Common use of Cash Distributions Prior to Dissolution Clause in Contracts

Cash Distributions Prior to Dissolution. The Board of Directors shall have the right to determine the amount, if any, that should be distributed to the Member each year; provided, however, that no distribution shall be permitted to the extent prohibited by the Act. No distribution shall be determined a return or withdrawal of a capital contribution unless so designated by the Member or board of Directors.

Appears in 17 contracts

Samples: Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC)

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Cash Distributions Prior to Dissolution. The Board of Directors Managers shall have the right to determine the amount, if any, that should be distributed to the Member each year; provided, however, that no distribution shall be permitted to the extent prohibited by the Act. No distribution shall be determined a return or withdrawal of a capital contribution unless so designated by the Member or board Board of DirectorsManagers.

Appears in 8 contracts

Samples: Limited Liability Company Agreement (Catenary Coal Holdings Inc), Limited Liability Company Agreement (Catenary Coal Holdings Inc), Limited Liability Company Agreement (ICG Knott County, LLC)

Cash Distributions Prior to Dissolution. The Board of Directors shall have the right to determine the amount, if any, that should be distributed to the Member each year; provided, however, that no distribution shall be permitted to the extent prohibited by the Act. No distribution shall be determined a return or withdrawal of a capital contribution unless so designated by the Member or board Board of Directors.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC)

Cash Distributions Prior to Dissolution. The Board of Directors Member shall have the right to determine the amount, if any, that should be distributed to the Member each year; provided, however, that no distribution shall be permitted to the extent prohibited by the Act. No distribution shall be determined a return or withdrawal of a capital contribution unless so designated by the Member or board of DirectorsMember.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC)

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Cash Distributions Prior to Dissolution. (a) The Board of Directors Managers shall have the right to determine the amounthow much, if any, that should be distributed cash the Company shall distribute to the Member each year; from time to time. (b) Notwithstanding anything to the contrary herein provided, however, that no distribution hereunder shall be permitted to the extent prohibited by the Act. . (c) No distribution of cash shall be determined a return or withdrawal of a capital contribution unless so designated by the Member or board Board of DirectorsManagers.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Arch Development, LLC)

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