Common use of Optional Loan Clause in Contracts

Optional Loan. The Member may in the Member’s sole discretion loan money to the Company on terms mutually agreeable to the Company and the Member. In the absence of such agreement, the unpaid principal balance of such loan will bear interest from the time the loan is made through the date of repayment at the per annum rate equal to the prime rate published from time to time in The Wall Street Journal. In no event will the rate of interest computed hereunder exceed the maximum rate permitted by applicable law. The interest rate will be adjusted on the date of a change in such prime rate.