Common use of Capital Withdrawal Rights, Interest and Priority Clause in Contracts

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that distributions pursuant to Article VII represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Chatham Lodging Trust), Limited Liability Company Agreement (Chatham Lodging Trust), Limited Liability Company Agreement (Chatham Lodging Trust)

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Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that distributions pursuant to Article VII represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest Units in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Keane Group, Inc.), Limited Liability Company Agreement (Keane Group, Inc.), Liability Company Agreement (Albertsons Companies, Inc.)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s 's Capital Accounts Account in whole or in part until the dissolution, liquidation dissolution and winding-up of the Company, except to the extent that as distributions pursuant to Article VII VI may represent returns of capital. No Member shall be entitled to receive or be credited with any interest on the balance in such Member's Capital Account at any time. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the other Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of on its Percentage Interest in the Company Membership Interests or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Fortress Brookdale Acquisition LLC), Limited Liability Company Agreement (Fortress Registered Investment Trust)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts Contribution in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that of distributions pursuant to Article VII VI hereof may represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the other Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of on its Percentage Interest in the Company Units or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Green Tree SerVertis Acquisition LLC), Limited Liability Company Agreement (Green Tree SerVertis Acquisition LLC)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that as distributions pursuant to Article VII may represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the Members Common Member or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest percentage interest in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Safeway Stores 42, Inc.)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that distributions pursuant to Article VII represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the Initial Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Chatham Lodging Trust)

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Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s 's Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that as distributions pursuant to Article VII may represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the other Members or as otherwise allowed by this Agreement shall be liable to the Company thereof for any damages suffered by the Company thereof on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest Interests in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 1 contract

Samples: Operating Agreement (Gerova Financial Group LTD)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s 's Capital Accounts Account in whole or in part until the dissolution, liquidation dissolution and winding-up of the Company, except to the extent that as distributions pursuant to Article VII VI may represent returns of capital. No Member shall be entitled to receive or be credited with any interest on the balance in such Member's Capital Account at any time. A Member who withdraws or purports to withdraw with draw as a Member of the Company without the consent of all of the other Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by the Company on account of the breach and shall not be entitled to receive any payment in respect of on its Percentage Interest in the Company Mem bership Interests or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Capital Z Financial Services Fund Ii Lp)

Capital Withdrawal Rights, Interest and Priority. Except as expressly provided in this Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that as distributions pursuant to Article VII may represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the other Voting Members or as otherwise allowed by this Agreement shall be liable to the Company thereof for any damages suffered by the Company thereof on account of the breach and shall not be entitled to receive any payment in respect of its Percentage Interest percentage interest in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members.

Appears in 1 contract

Samples: Operating Agreement (FUND.COM Inc.)

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