Distribution Entitlement. For purposes of receiving distributions, a Transfer of Membership Interests in accordance with this Article 11 shall be effective on the first day of the month following the day on which the requirements of this Article 11 have been satisfied, or at such earlier time as the Managing Member reasonably determines. Distributions made after the effective date shall be made to the transferee of such Membership Interests.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (MEADWESTVACO Corp), Limited Liability Company Agreement (Plum Creek Timber Co Inc)
Distribution Entitlement. For purposes of receiving distributions, a Transfer of Membership Interests made in accordance with this Article 11 ARTICLE 12 shall be effective on the first day of the month following the day on which the requirements of this Article 11 ARTICLE 12 have been satisfied, or at such earlier time as the Managing Member Board reasonably determinesDetermines. Distributions made after the effective date shall be made to the transferee of such Membership InterestsTransferee.
Appears in 1 contract
Samples: Operating Agreement (Watsco Inc)
Distribution Entitlement. For purposes of receiving distributions, a Transfer of Membership Interests made in accordance with this Article 11 12 shall be effective on the first day of the month following the day on which the requirements of this Article 11 12 have been satisfied, or at such earlier time as the Managing Member Board reasonably determinesDetermines. Distributions made after the effective date shall be made to the transferee of such Membership InterestsTransferee.
Appears in 1 contract
Samples: Operating Agreement (Watsco Inc)
