Allocations and Distributions. The LLC's profits and losses shall be allocated to the Member. At the time determined by a majority of the Managers, the Managers may cause the LLC to distribute to the Member any cash held by it which is neither reasonably necessary for the operation of the LLC nor the performance of its contractual obligations, nor which is in violation of Sections 18-607 or 18-804 of the Act or any contractual agreement binding on the LLC.
Appears in 46 contracts
Samples: Operating Agreement (Leasehold Resource Group LLC), Limited Liability Company Operating Agreement (Leasehold Resource Group LLC), Operating Agreement (Leasehold Resource Group LLC)
Allocations and Distributions. The LLC's profits and losses shall be allocated to the Member. At the time determined by a majority of the Managers, the Managers may cause the LLC to distribute to the Member any cash held by it which is neither reasonably necessary for the operation of the LLC nor the performance of its contractual obligations, nor which is not in violation of Sections 18-607 or 18-804 of the Act or any contractual agreement binding on the LLC.
Appears in 40 contracts
Samples: Limited Liability Company Operating Agreement (Leasehold Resource Group LLC), Limited Liability Company Operating Agreement (Leasehold Resource Group LLC), Limited Liability Company Operating Agreement (Leasehold Resource Group LLC)
