LSL Loans Sample Clauses
LSL Loans. The business of the Company is also to make LSL Loans and, through the exercise of Warrants, to acquire equity interests in Special Purpose LLCs that own LSL Properties. In connection therewith and without limiting the foregoing, the Company shall have the power to engage in any and all activities related or incidental thereto, all for the benefit of the Members.
LSL Loans. In the event the Company requires capital to make an LSL Loan, the Manager shall be entitled to require an additional capital contribution with respect thereto (an "LSL CAPITAL CONTRIBUTION") from the Members in an amount not in excess of the amount of the LSL Loan (determined in accordance with Paragraph 3(c)(i)
LSL Loans. The Company shall not directly acquire or own any LSL Property, but shall, if the Members elect, make LSL Loans in accordance with Schedule 3.6(i) hereto. If the Members elect to make an LSL Loan, the related LSL Property shall be acquired by a Special Purpose LLC in accordance with the provisions of this Section 3.6 and Schedule 3.6(i) hereto. Unless and until the Company exercises a Warrant to acquire, and does acquire, an equity interest in a Special Purpose LLC, the Company shall not be liable for any costs and expenses relating to the holding for investment, preservation, management, operation, improvement, leasing, selling, exchange or transfer of, the financing or refinancing of the First Mortgage Loan with respect to, or any other use of, any LSL Property, except as expressly set forth in this Agreement. If the Company makes one or more LSL Loans, the Members agree that, with respect to each LSL Loan made by the Company, in the event of default on an LSL Note, the Members will agree to vote in favor of the Company's exercise of its right to foreclose on the security securing such LSL Note unless there is clearly demonstrable good cause for not doing so based on reasonable commercial standards of a real estate investment creditor.