Consequences of Distributions. Upon the determination to distribute, remit, or pay funds in any manner expressly provided in this Article V, made in good faith, the Members shall incur no liability on account of such distribution, even though such distribution may have resulted in the LLC retaining insufficient funds for the operation of its business, which insufficiency resulted in loss to the LLC or necessitated the borrowing of funds by the LLC.
Appears in 4 contracts
Samples: Operating Agreement (O Charleys Inc), Operating Agreement (O Charleys Inc), Operating Agreement (O Charleys Inc)
Consequences of Distributions. Upon the determination to distribute, remit, or pay funds in any manner expressly provided in this Article V, made in good faith, the Members no Member or Board Member shall incur no any liability on account of such distribution, even though such distribution may have resulted in the LLC retaining insufficient funds for the operation of its business, which insufficiency resulted in loss to the LLC or necessitated the borrowing of funds by the LLC.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (O Charleys Inc), Limited Liability Company Agreement (O Charleys Inc)
Consequences of Distributions. Upon the determination to distribute, remit, remit or pay funds in any manner expressly provided in this Article V, made in good faith, the Members shall incur no liability on account of such distribution, even though such distribution may have resulted in the LLC retaining insufficient funds for the operation of its business, which insufficiency resulted in loss to the LLC or necessitated the borrowing of funds by the LLC.
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