Temporary Advances. A Member or its Affiliates, with Board Approval, may make loans (“Temporary Advances”) to temporarily fund obligations for Valid Company Purposes until Capital Contributions are made by the Members as set forth in Section 4.1. Such Temporary Advances plus interest at the Temporary Advance Rate shall be returned from any Capital Contributions by the Members under Section 4.1, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid in accordance with Section 6.1.
Temporary Advances. Following a notice from the Administrative Agent pursuant to Section 3.01 above relating to a Capital Contribution, a Member (the “Advancing Member”), in its discretion and in addition to its own Capital Contribution relating to that notice, may make loans (“Temporary Advances”) to temporarily fund the Company or people or entities in which the Company has already invested until Capital Contributions (“Delayed Contributions”) are made by the Members (each, a “Delayed Member”) who have not yet made Capital Contributions relating to the notice as set forth in Section 3.01. Any Temporary Advances shall be repaid from the Delayed Members’ Capital Contributions under Section 3.01 (including from any Delayed Contributions), with any unreturned Temporary Advances and any Temporary Advance Fees paid as set forth in Section 5.01.
Temporary Advances. (a) Subject to Board Approval, one or more Members or their subsidiaries, in its discretion, may make loans (each, a “Temporary Advance”) to temporarily fund the obligations of another Member who fails to make Capital Contributions as set forth in Section 3.1 or to provide the funding contemplated by Section 3.2(b) (“Non-Contributing Member”), by paying the amount of such Temporary Advance to the Company on behalf of the Non-Contributing Member. Temporary Advances plus interest at the Temporary Advance Rate accrued thereon, shall be repaid directly by the Non-Contributing Member or be returned, as and when available, from Investment Proceeds otherwise distributable to such Non-Contributing Member (and such distributions shall be treated for all purposes of this Agreement as distributed to such Non-Contributing Member); provided, that, a Member’s repayment of interest in respect of a Temporary Advance shall not reduce the amount of such Member(s) remaining Capital Commitment. For example, if the Company has called Capital Contributions of $200 from the Members (i.e., $100 per Member), and one Member contributes $200 because the Non-Contributing Member is unwilling or unable to contribute its $100 before the date required by Section 3.1, then the $100 advanced on behalf of the Non-Contributing Member shall constitute a Temporary Advance. The parties agree that the Temporary Advances shall be a non-recourse loan from the Member making such Temporary Advance to the Non-Contributing Member followed by a Capital Contribution by the Non-Contributing Member to the Company.
Temporary Advances. (a) A Member may (i) in its discretion, if the Company does not have sufficient liquidity to pay its obligations as they come due, make loans to temporarily fund the Company until Capital Contributions are made by the Members as set forth in Section 3.1, (ii) with the written consent of the other Member, make loans to temporarily fund the Company in order to make Investments until Capital Contributions are made by the Members as set forth in Section 3.1 or (iii) with Prior Board Approval, contribute property with a fair market value in excess of such Member’s required Capital Contribution on such date (such loan or the amount of such excess, a “Temporary Advance”).
Temporary Advances. The BDC, in its discretion, may make loans (“Temporary Advances”) to temporarily fund obligations of the Fund in respect of Underlying Loans (which have been made or acquired with the approval of the Board of Managers) or Fund Expenses until Capital Contributions are made by the Members as set forth in Section 3.1. Each Temporary Advance plus interest at the Temporary Advance Rate shall constitute an obligation of the Fund to the BDC and shall be returned by the Fund to the BDC.
Temporary Advances. 13 Section 4.03 Defaulting Members ..................................................................................13 Section 4.04 Interest or Withdrawals ..............................................................................14 Section 4.05 Admission of Additional Members ............................................................14 Section 4.06 Alternative Investment Vehicle .................................................................14
Temporary Advances. (First Shift) Temporary advances represent a service available to qualified Comdata clients to accommodate volume related events. This is a core service we provide to Cash, Fuel, and MasterCard customers. This service is not intended to be available for the routine/repetitive daily management of an account. It should be considered the exception rather than the rule. When to temp: • If the need for a temp is created due to a Comdata error. Advance only up to the amount of the error and no fee should be billed. • Account is in good standing (see definition below) When not to temp: • Account is not in good standing • Customer was set up within the last 3 months unless it is a Comdata error or the advance is just enough to move a driver off the pump. Policy: • Accounts in good standing- For collectors, grant advance for amount requested, not to exceed one-half of the amount of the payment. For individuals with lending authority, the amount of the advance should not exceed the individual’s authority, payment verification (see definition below) of immediate payment sufficient to bring the account balance below the credit limit and current. • Temporary advances for Comdata initiated ACH are acceptable if the draft will occur within the next two (2) days. The amount of the temp is not to exceed 20% of the credit limit. Any deviation must be escalated to a supervisor or above. If the credit limit is not adequate for the customer’s usage, escalate to the appropriate sales associate. • All advances should be accompanied by the appropriate xxxx temp comment in eCredit. The temporary advance is due to a Comdata error no xxxx temp comment is required. If the temporary advance is for a MasterCard account no xxxx temp comment is required because MasterCard accounts are billed overlimit fees. In the event eCredit is not available; the appropriate xxxx temp comment should be placed in Telemar. COMDATA NETWORK, INC. CREDIT & COLLECTIONS POLICIES & PROCEDURES Proprietary, MasterCard, Merchant Solutions, Branded Debit VERSION: 17 PAGE 36 ORIGINAL POLICY DATE: 09/30/1999 REVISION DATE: 08/15/2014 SUBJECT: CREDIT & COLLECTIONS POLICIES AND PROCEDURES Exceptions: • Temporary advances without payment confirmation may be given to comcash accounts up to a maximum of $1,000 if account has been established more than three months. • Accounts in good standing without payment confirmation may be granted a temporary advance up to a maximum of 10% of their credit limit (not to exceed $5,00...
Temporary Advances. (a) Subject to Board Approval, one or more Members or their subsidiaries, in its discretion, may make loans (each, a “Temporary Advance”) to temporarily fund obligations for Valid Company Purposes until Capital Contributions are made by the Members as set forth in Section 3.1. Such Temporary Advances plus interest at the Temporary Advance Rate shall be returned from any Capital Contributions made by the Member(s) not making Temporary Advances under Section 3.1 or, as and when available, from Investment Proceeds, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid as set forth in Section 5.1; provided, that, a Member’s repayment of interest in respect of a Temporary Advance shall not reduce the amount of such Member(s) remaining Capital Commitment. For example, if the Company has called Capital Contributions of $200 from the Members (i.e., $100 per Member), and one Member contributes $200 because the other Member is unwilling or unable to contribute its $100 before the date required by Section 3.1, then the $100 advanced on behalf of the other Member shall constitute a Temporary Advance.
Temporary Advances. (a) A Member may (i) with the written consent of the other Member, make loans to temporarily fund the Company in order to temporarily fund the Company or to make Investments until Capital Contributions are made by the Members as set forth in Section 3.1 or (ii) with Prior Board Approval, contribute property with a fair market value in excess of such Member’s required Capital Contribution on such date (such loan or the amount of such excess, a “Temporary Advance”).
Temporary Advances. In the event the Company requires capital sooner than a Contribution Due Date, MRCC may make an advance of the required amount (a “Temporary Advance”). Any Temporary Advance shall accrue interest at the average LIBOR Rate during such period (expressed as an annual rate) plus four percent (4.0%) per annum from the date upon which an amount is advanced until the date it is repaid to MRCC. Repayment of a Temporary Advance shall be made from capital contributions or other Company assets, as soon as either of such sources of repayment reasonably becomes available.
