Certain Distributions Prohibited. Anything in this Agreement to the contrary notwithstanding, no distribution shall be made to any Member if, and to the extent that, such distribution would not be permitted under the Delaware Act.
Certain Distributions Prohibited. Anything in this Article VIII to the contrary notwithstanding, all Company distributions shall be subject to the following limitations:
(i) No distribution shall be made to any Member if, and to the extent that, such distribution would not be permitted under the LLC Act.
(ii) No distribution other than a Tax Distribution shall be made to any Member to the extent that such distribution, if made, would cause the deficit balance, if any, in the Capital Account of such Member (determined without regard to any allocations made pursuant to Section 7.4(c)) to exceed such Member's Restoration Amount.
Certain Distributions Prohibited. Notwithstanding anything in this Agreement to the contrary, all Partnership distributions shall be subject to the following limitations:
(a) No distribution shall be made to any Partner if, and to the extent that, such distribution would not be permitted under Section 17-607 of the Delaware Act or other applicable law.
(b) No distribution shall be made to any Partner to the extent that such distribution, if made, would create or increase a deficit balance in the Capital Account of such Partner.
(c) Notwithstanding anything in the Delaware Act or this Agreement to the contrary, in the event of a Liquidating Distribution, a Partner may be compelled in accordance with Section 12.01 to accept a distribution of Subordinated Debentures, cash or any other asset in kind from the Partnership even if the percentage of the asset distributed to it exceeds a percentage of that asset which is equal to the percentage in which such Partner shares in distributions from the Partnership.
Certain Distributions Prohibited. Anything in this Article 7 to the contrary notwithstanding:
(a) No distribution shall be made to any Partner if, and to the extent that, such distribution would not be permitted under Sections 17-607(a) or 17-804(a) of the Delaware Act; and
(b) No distribution other than a Tax Distribution shall be made to any Partner to the extent that such distribution, if made, would cause the deficit balance, if any, in the Capital Account of such Partner to exceed such Partner’s Restoration Amount or would further reduce an existing balance (as so determined) that is already negative in an amount exceeding such Partner’s Restoration Amount.
Certain Distributions Prohibited. Notwithstanding ---------------------------------- anything in this Agreement to the contrary, all Partnership distributions shall be subject to the following limitations:
(a) No distribution shall be made to any Partner if, and to the extent that, such distribution would not be permitted under Section 17-607 of the Delaware Act or other applicable law.
(b) No distribution shall be made to any Partner to the extent that such distribution, if made, would create or increase a deficit balance in the Capital Account of such Partner.
(c) Other than Liquidating Distributions or as otherwise provided in an Action, no distribution of Partnership property shall be made in kind. Notwithstanding anything in the Delaware Act or this Agreement to the contrary, in the event of a Liquidating Distribution, a Partner may be compelled in accordance with Section 12.01 to accept a distribution of Subordinated Debentures, cash or any other asset in kind from the Partnership even if the percentage of the asset distributed to it
exceeds a percentage of that asset which is equal to the percentage in which such Partner shares in distributions from the Partnership.
Certain Distributions Prohibited. 19 ARTICLE XI - DURATION OF THE COMPANY..........................................20
Certain Distributions Prohibited. Anything in this Agreement to the contrary notwithstanding:
(a) No distribution shall be made to any Partner if, and to the extent that, such distribution would not be permitted under the Delaware Act; and
(b) No distribution other than a Tax Distribution shall be made to any Partner to the extent that such Partner has — or would have, as a result of such distribution — a Capital Account deficit balance in excess of such Partner’s Restoration Amount (provided, however, that for this purpose Capital Account balances shall be determined without regard to any allocations made pursuant to Part 1 of Appendix II other than 1.1 thereof).
Certain Distributions Prohibited. (a) Notwithstanding anything in this Article 7 to the contrary, no distribution shall be made to any Member if, and to the extent that, such distribution would not be permitted under Sections 18-607(a) or 18-804(a) of the Delaware Act.
(b) Except as otherwise determined by the General Partner, no distribution shall be made to a Member if, and to the extent that, such distribution would cause or increase a negative balance in such Member’s Capital Account (determined for this purpose by increasing the Member’s Capital Account balance by any amount the Member would be obligated to restore to the Company within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(c), including pursuant to 10.5.2(a), 10.5.2(b), 10.5.2(c) or 10.5.2(d), or is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5) if, immediately prior to the distribution, each asset of the Fund and the Company (other than the Company’s interest the Fund) were sold for an amount equal to its fair market value, and the Fund and the Company were liquidated). The amount of any distribution that is not made to a Member as a result of the operation of this 7.5(b) may be made to the other Members pursuant to the clause of 7.2.1 that such distribution otherwise would have been made. The foregoing provisions of this 7.5(b) are intended to cause the Company interests with respect to the GP Special Distributions and allocations attributable thereto to qualify as Profits Interest. ARTICLE 8 -- ACCOUNTS; ALLOCATIONS
Certain Distributions Prohibited. Anything in this Article VIII to the contrary notwithstanding, no distribution will be made to any Member if, and to the extent that, such distribution would not be permitted under the Act or other applicable law.
Certain Distributions Prohibited. RETURN BY GENERAL PARTNER OF CERTAIN DISTRIBUTIONS. .......................................................................... 7.4.1 General. ..
