Member Loans definition

Member Loans has the meaning given that term in Section 2.3 hereof.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Member Loans means loans made by the Members to Nevada JV, evidenced by promissory notes or other evidence of indebtedness, which in all cases shall only be made on a proportionate basis based on each Member’s Proportionate Interest.

Member Loans. As defined in Section 3.3.

Examples of Member Loans in a sentence

Further, as a condition to each Member’s obligation to consummate a Company Sale, the Members Working Capital Facility will be terminated and all Member Loans outstanding thereunder will be paid off prior to or concurrent with the closing of such transaction.
Any Company Loan shall be expressly subordinated to all Member Loans and to any senior credit facility of the Company to the extent required by such senior credit facility, and the Defaulting Member shall bear all reasonable and customary costs and expenses related thereto and to the negotiation and documentation thereof, including reasonable fees and expenses of the counsel and accountants of the Company and the Member making such Company Loan.
The Members Working Capital Facility shall be terminated and all Member Loans outstanding thereunder shall be paid off prior to or concurrent with the closing of the sale of the Triggering Member’s Company Interests to the Non-Triggering Member.
If the Triggering Member accepts the Non-Triggering Member’s offer as set forth in the Approved Sale Report Notice, then the Approved Sale Report Notice shall constitute the legally binding obligation of each Member to complete the proposed purchase of such Units and Equity Securities and any Company Loans and Member Loans held by the Triggering Member on the terms and conditions set forth therein.

More Definitions of Member Loans

Member Loans has the meaning set forth in Section 4.2.

Member Loans means loans made by the Members to DGD under the Members Working Capital Facility.

Member Loans means the loans from time to time made to the Company by a Member (the "MEMBER LENDERS") pursuant to Section 3.2, which shall be accounted for by the Company, be an obligation of the Company payable to the Member Lenders, bear interest at the applicable Interest Rate, and require scheduled (but not necessarily full) payments (applied first to accrued interest and then to reduction of principal) from time to time (pro rata to each Member Lender based on Member Loans then outstanding) as appropriate prior to determination and distribution of Cash Available from Operations, Net Financing Proceeds or Net Sales Proceeds. Member Loans shall not be treated as Capital Contributions to the Company.

Member Loans means any loan of cash or other property by the Company to a Member.

Member Loans has the meaning set forth in Section 6.5.

Member Loans means, collectively, loans from members or the managing member of Borrower, or their Affiliates, made in accordance with the terms of the Organizational Agreement of Borrower, which are subordinate both in payment and priority of Liens to the Loan and the Loan Documents pursuant to a subordination agreement in favor of Lender binding upon such Person.

Member Loans is defined in Section 2.2.