Loans from Members definition

Loans from Members. Any Member may advance funds to the Company if funds are deemed necessary by the Manager. The advances will be evidenced by the Company's note payable to the lending Member. The note will provide for a rate of interest mutually acceptable to the Manager and the Member advancing funds to the Company; provided, however, such rate of interest shall be commercially reasonable.
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Examples of Loans from Members in a sentence

  • Loans from Members to the Company shall not be considered Capital Contributions.

  • As a part of energy management and water conservation the controller via its remote software package shall data log and provide water usage per day, week, month and year.

  • Announced the COVID-19 Assistance Fund to support the Papua New Guinea National Government, the Eastern Highlands and Morobe Provincial Governments and local communities in PNG with 1.5 million Papua New Guinea Kina (US$0.4 million).

  • The UFr offers students the possibility to attain high levels of competence in two of the national languages of Switzerland, with the advantages which this offers in terms of employability.

  • The Capital Accounts are maintained for the sole purpose of allocating items of income, gain, loss, and deduction among the Members and shall have no effect on the amount of any Distributions to any Members, pursuant to ARTICLE VII, ARTICLE XII or otherwise.Section 5.07Treatment of Loans from Members.

  • Loans from Members (and their Affiliates) will be on terms comparable to those that could be obtained by the Company in an arm’s-length financing with a Third Party, as determined in good faith by the Board.

  • Borrowings consisted of the following as of December 31, 2017 and 2016 (in thousands): Loans from Members The Company’s debt obligations consist of fixed rate committed loan facilities from Constellium U.S. and Tri-Arrows (collectively, the “Issuers”) (“Member Loans”).

  • Loans from Members During the year ended October 31, 2020, the Members made a short-term loan to the Company of $3,600,000 which was repaid during the year.

  • Each day RCS staff work with both coworkers and stakeholders from diverse backgrounds.

  • Interest on Loans from Members 7(G) The maximum rate of interest payable on money borrowed from a member pursuant to the proviso of the third paragraph of the Memorandum of Association shall be determined by the Council.

Related to Loans from Members

  • Class B Members means all such Persons.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1 of the Agreement.

  • Initial Capital Contributions has the meaning set forth in Section 3.01.

  • Initial Capital Contribution has the meaning set forth in Section 4.1.

  • Class A Members means those Members who have purchased Class A Interests.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Non-Investment Personnel means any Employee that does not meet the definition of Investment Personnel as listed above.

  • New Members As Defined By the Public Employees’ Pension Reform Act of 2013 (PEPRA)

  • Rollover Loan means one or more Loans:

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Class B Invested Amount means, on any date of determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero.

  • Founding Members means the collective reference to American Multi-Cinema, Inc., a Missouri corporation, Cinemark Media, Inc., a Delaware corporation, and Regal CineMedia Holdings, LLC, a Delaware limited liability company.

  • Payments in lieu of contributions means the money payments to

  • collective investment scheme means any arrangements with respect to property of any description, including money, the purpose or effect of which is to enable Persons taking part in the arrangements (whether by becoming owners of the property or any part of it or otherwise) to participate in or receive profits or income arising from the acquisition, holding, management or disposal of the property or sums paid out of such profits or income.

  • Additional Capital Contributions shall have the meaning set forth in Section 5.3.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • In-kind contributions means services and goods as approved by the department that are provided by a grant recipient toward completion of a department-approved local snowmobile program under section 82107.

  • Class B Initial Invested Amount means the sum of the aggregate initial principal amount of the Class B Certificates, which is $48,000,000 on the Closing Date, and the aggregate initial principal amount of any Additional Class B Certificates.

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Equity Contributions means the equity to be contributed by the Equity Investor to Borrower, in accordance with and subject to the terms of the Partnership Agreement.