Examples of Voluntary Loan in a sentence
If any Partner shall so lend monies, each such loan (a "Voluntary Loan") shall be an obligation of the Partnership and (except for Subordinated Loans) shall be repayable to such Partner on the same basis and with the same rate of interest as would be applicable to a comparable loan to the Partnership from a third party.
Any loan by a Partner or its Affiliate, other than an Operating Loan, shall be a Voluntary Loan, shall bear interest per annum at a rate equal to two percent in excess of the Prime Rate (but not in excess of the lawful maximum rate) and shall be repayable as set forth in Article IX hereof (to the extent permitted by each Authority); provided, however, that any Voluntary Loan shall be made solely for the benefit of the Partnership.
If any Partner shall advance funds to the Partnership other than the amount of its Capital Contribution, the amount of such advance shall not be considered a contribution to the capital of the Partnership, but shall be deemed either an Operating Loan or a Voluntary Loan and shall be subject to the provisions of Section 4.4 hereof.
Each such Voluntary Loan shall bear interest at the Loan Rate and shall be payable in accordance with Section 6.3.
No Voluntary Loan by the General Partners or its Affiliates may be made to the Partnership in substitution of its obligation to make Operating Loans to the Partnership.
Unless otherwise expressly indicated to the contrary elsewhere in this Agreement, any such advance shall be considered a Voluntary Loan in accordance with Section 4.2 below.
The timing, terms and conditions of each such Voluntary Loan shall be subject to the approval of each of the parties hereto; provided that in no event shall any Voluntary Loan bear interest in excess of the Prime Rate.
The timing, terms and conditions of each such Voluntary Loan shall be subject to the approval of each of the parties hereto; provided that in no event -------- shall any Voluntary Loan bear interest in excess of the Prime Rate.
In addition to a Voluntary Loan, Sellers’ Representative, acting on behalf of the Interested Parties, may borrow funds from third parties upon commercially reasonable terms and in such amounts as he deems necessary or appropriate to effectuate the terms of this Agreement.
No Centerline Party will make any Fund Voluntary Loan unless (i) through the Master Note and (ii) through a Receivables Assignor, with respect to which CFin Holdings is the payee thereof.