Loans From Shareholders Sample Clauses

The "Loans From Shareholders" clause defines the terms under which shareholders may provide loans to the company. It typically outlines the conditions for such loans, including interest rates, repayment schedules, and any security or priority these loans may have compared to other company debts. For example, it may specify whether shareholder loans are subordinated to bank loans or if they require board approval. The core function of this clause is to ensure transparency and fairness in financial dealings between shareholders and the company, preventing conflicts of interest and clarifying the rights and obligations associated with shareholder financing.
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Loans From Shareholders. Loans by a Shareholder to the Company shall not constitute Capital Contributions. If any Shareholder shall advance funds to the Company (other than funds to purchase Member Interests), then the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Shareholder. The amount of any such excess advances shall be a debt obligation of the Company to such Shareholder and shall be payable or collectible only out of the Company Assets in accordance with the terms and conditions upon which such advances are made.
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Loans From Shareholders. The Company may from time to time borrow funds from Shareholders on such terms and conditions deemed acceptable by the Board of Managers. Loans by Shareholders to the Company shall not be considered Consideration for a Unit or any other type of special or unique consideration. The amount of such loans shall be a debt of the Company to such Shareholder and shall be payable or collectable in accordance with the terms and conditions upon which such loans are made.
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Loans From Shareholders. Loans by Shareholders to the LLC shall not be considered Capital Contributions. If any Shareholder shall loan funds to the LLC in excess of the amounts required hereunder to be contributed by such Shareholder to the capital of the LLC, the making of such loans shall not result in any increase in the amount of the Capital Account of such Shareholder. The amount of any such loans shall be a debt of the LLC to such Shareholder and shall be payable or collectible in accordance with the terms and conditions upon which such loans are made; provided, that such terms and conditions are no more favorable to such lending Shareholder than those which would be agreed to in an orderly transaction with a willing, unaffiliated lender in an arm's-length transaction.
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Loans From Shareholders. The obligations to each of ▇▇▇▇ ▇▇▇▇▇▇▇, M.D. in the principal amount of $680,820.58 and ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ in the principal amount of $100,000; provided, however, that the such obligations shall be amended and restated in the form of the Subordinated Promissory Note attached hereto as Exhibit B (the “Note”). At the Closing, Buyer shall execute a Note in favor of each of ▇▇. ▇▇▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇▇▇ in the principal amount set forth above.
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Loans From Shareholders. The Board may, from time to time make a written request to the Shareholders for a Shareholder Loan. The Board’s request for Shareholder Loans shall be made to each Shareholder pro rata in proportion to its shareholdings in the capital of the Corporation. A Shareholder may advance the money requested from it within 15 Business Days of receipt of the written request for the Shareholder Loan but shall not be required to do so. If a Shareholder advances funds to the Corporation pursuant to the terms of this clause 6.1, then the Shareholder shall be entitled to receive interest on the amount advanced by it at a rate equal to the Prime Rate plus 3% per annum, which interest shall be payable monthly on the outstanding balance of such disproportionate Shareholder Loan until that amount is repaid.
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Related to Loans From Shareholders

  • Loans From Members Loans by Members to the Company shall not be considered Capital Contributions. Subject to the provisions of Section 3.01(c), the amount of any such advances shall be a debt of the Company to such Member and shall be payable or collectible in accordance with the terms and conditions upon which such advances are made.

  • Loans from Partners Loans by a Partner to the Partnership shall not constitute Capital Contributions. If any Partner shall advance funds to the Partnership in excess of the amounts required hereunder to be contributed by it to the capital of the Partnership, the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Partner. The amount of any such excess advances shall be a debt obligation of the Partnership to such Partner and shall be payable or collectible only out of the Partnership assets in accordance with the terms and conditions upon which such advances are made.

  • Loans from Affiliates If any loans are made to the Company by an Affiliate of the Advisor, the maximum amount of interest that may be charged by such Affiliate shall be the lesser of (i) 1% above the prime rate of interest charged from time to time by The Bank of New York and (ii) the rate that would be charged to the Company by unrelated lending institutions on comparable loans for the same purpose. The terms of any such loans shall be no less favorable than the terms available between non-Affiliated Persons for similar commercial loans.

  • Distributions to Shareholders (a) The Trustees shall from time to time distribute ratably among the Shareholders of any class of Shares, or any series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, such proportion of the net profits, surplus (including paid-in surplus), capital, or assets held by the Trustees as they may deem proper or as may otherwise be determined in accordance with this Declaration. Any such distribution may be made in cash or property (including without limitation any type of obligations of the Trust or any assets thereof) or Shares of any class or series or any combination thereof, and the Trustees may distribute ratably among the Shareholders of any class of shares or series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, additional Shares of any class or series in such manner, at such times, and on such terms as the Trustees may deem proper or as may otherwise be determined in accordance with this Declaration. (b) Distributions pursuant to this Section 9.2 may be among the Shareholders of record of the applicable class or series of Shares at the time of declaring a distribution or among the Shareholders of record at such later date as the Trustees shall determine and specify. (c) The Trustees may always retain from the net profits such amount as they may deem necessary to pay the debts or expenses of the Trust or to meet obligations of the Trust, or as they otherwise may deem desirable to use in the conduct of its affairs or to retain for future requirements or extensions of the business. (d) Inasmuch as the computation of net income and gains for Federal income tax purposes may vary from the computation thereof on the books, the above provisions shall be interpreted to give the Trustees the power in their discretion to distribute for any fiscal year as ordinary dividends and as capital gains distributions, respectively, additional amounts sufficient to enable the Trust to avoid or reduce liability for taxes.

  • Proceeds from Shares Sold The Custodian shall receive funds representing cash payments received for Shares issued or sold from time to time by the Funds, and shall promptly credit such funds to the account(s) of the applicable Portfolio(s). The Custodian shall promptly notify each applicable Fund of Custodian's receipt of cash in payment for Shares issued by such Fund by facsimile transmission or in such other manner as the Fund and Custodian may agree in writing. Upon receipt of Proper Instructions, the Custodian shall: (a) deliver all federal funds received by the Custodian in payment for Shares in payment for such investments as may be set forth in such Proper Instructions and at a time agreed upon between the Custodian and the applicable Fund; and (b) make federal funds available to the applicable Fund as of specified times agreed upon from time to time by the applicable Fund and the Custodian, in the amount of checks received in payment for Shares which are deposited to the accounts of each applicable Portfolio.