Common use of Capital Payments Clause in Contracts

Capital Payments. (a) Subject to the terms of this Article 12, (i) Class B Preferred Securityholders shall receive periodic Capital Payments, if any, in accordance with Article 10 of this Agreement only when, as and if declared or deemed declared by the Board of Directors and (ii) Class A Preferred Securityholders and Common Securityholders shall receive periodic distributions, subject to Article 10 of this Agreement and to the provisions of the LLC Act, only when, as and if declared by the Board of Directors. (b) A Securityholder shall not be entitled to receive any Capital Payment or other distribution with respect to any Class B Capital Payment Date (and any such Capital Payment or other distribution shall not be considered due and payable), irrespective of whether such Capital Payment or other distribution has been declared by the Board of Directors, until such time as the Company shall have funds legally available for the payment of such Capital Payment or such other distribution to such Securityholder pursuant to the terms of this Agreement and the LLC Act, and notwithstanding any provision of Section 18-606 of the LLC Act to the contrary, until such time, a Securityholder shall not have the status of a creditor of the Company, or the remedies available to a creditor of the Company.

Capital Payments. (a) Subject to the terms of this Article 1212 and the provisions of the LLC Act, (i) Class B Preferred Securityholders shall receive periodic Capital Payments, if any, in accordance with Article 10 of this Agreement only when, as and if declared or deemed declared by the Board of Directors Directors, and (ii) Class A Preferred Securityholders and Common Securityholders shall receive periodic distributions, if any, subject to Article 10 of this Agreement and to the provisions of the LLC ActAgreement, only when, as and if declared by the Board of Directors. (b) A Securityholder shall not be entitled to receive any Capital Payment or other distribution with respect to any Class B Capital Payment Date (and any such Capital Payment or other distribution shall not be considered due and payable), irrespective of whether such Capital Payment or other distribution has been declared (or is deemed declared) by the Board of Directors, until such time as the Company shall have funds legally available for the payment of such Capital Payment or such other distribution to such Securityholder pursuant to the terms of this Agreement and the LLC Act, and notwithstanding any provision of Section 18-606 of the LLC Act to the contrary, until such time, a Securityholder shall not have the status of a creditor of the Company, or the remedies available to a creditor of the Company.

Capital Payments. (a) Subject to the terms of this Article 1212 and the provisions of the LLC Act, (i) Class B Preferred Securityholders shall receive periodic Capital Payments, if any, in accordance with Article 10 of this Agreement only when, as and if declared or deemed declared by the Board of Directors and (ii) Class A Preferred Securityholders and Common Securityholders shall receive periodic distributions, if any, subject to Article 10 of this Agreement and to the provisions of the LLC ActAgreement, only when, as and if declared by the Board of Directors. (b) A Securityholder shall not be entitled to receive any Capital Payment or other distribution with respect to any Class B Capital Payment Date (and any such Capital Payment or other distribution shall not be considered due and payable), irrespective of whether such Capital Payment or other distribution has been declared (or is deemed declared) by the Board of Directors, until such time as the Company shall have funds legally available for the payment of such Capital Payment or such other distribution to such Securityholder pursuant to the terms of this Agreement and the LLC Act, and notwithstanding any provision of Section 18-606 of the LLC Act to the contrary, until such time, a Securityholder shall not have the status of a creditor of the Company, or the remedies available to a creditor of the Company.

Capital Payments. (a) Subject to the terms of this Article 12, (i) Class B Preferred Securityholders shall receive periodic Capital Payments, if any, in accordance with Article 10 of this Agreement only when, as and if declared or deemed declared by the Board of Directors and (ii) Class A Preferred Securityholders and Common Securityholders shall receive periodic distributions, subject to Article 10 of this Agreement and to the provisions of the LLC Act, only when, as and if declared by the Board of Directors. (b) A Securityholder shall not be entitled to receive any Capital Payment or other distribution with respect to any Class B Capital Payment Date (and any such Capital Payment or other distribution shall not be considered due and payable), irrespective of whether such Capital Payment or other distribution has been declared by the Board of Directors, until such time as the Company shall have funds legally available for the payment of such Capital Payment or such other distribution to such Securityholder pursuant to the terms of this Agreement and the LLC Act, and notwithstanding any provision of Section 18-606 of the LLC Act to the contrary, until such time, a Securityholder shall not have the status of a creditor of the Company, or the remedies available to a creditor of the Company.