Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, Members holding a majority of the Membership Interests may elect from time to time to cause the Company to make distributions. Distributions shall be made to the Members in proportion to their Membership Interests.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Manager may elect from time to time to cause the Company to distribute Distributable Cash to the Members, which Distributions shall be in the following order of priority:
(a) first, to the Members in proportion to their Adjusted Capital Contributions until each Member’s Adjusted Capital Contribution has been reduced to zero; and
(b) finally, to the Members in proportion to their Percentage Interests.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Manager may elect from time to time to distribute Distributable Cash to the Members, which distributions shall be in the following order of priority:
(a) To the Economic Interest Owners of the Class A Preferred Units until an amount equal to 120% of the Class A Preferred Face Value per each Class A Preferred Unit has been distributed to the Economic Interest Owners of the Class A Preferred Units in proportion to their Class A Percentage Interests; and
(b) To the Members in proportion to their Percentage Interests. All such distributions shall be made only to the persons who, according to the books and records of the Company, are the holders of record of the Economic Interests in respect of which such distributions are made on the actual date of distribution. Neither the Company nor the Manager shall incur any liability for making distributions in accordance with this Section 6.5.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Board (and only the Board) may elect from time to time to cause the Company to distribute Distributable Cash to the Members, which Distributions shall be in the following order of priority:
(a) first, to the Members with Unpaid Preferred Returns, in proportion to their Unpaid Preferred Return until each Member’s Unpaid Preferred Return has been reduced to zero;
(b) second, to those Members with positive Adjusted Capital Contributions, in proportion to their positive Adjusted Capital Contributions, until each Member’s Adjusted Capital Contribution has been reduced to zero; and
(c) third, to the Members in proportion to their Percentage Interests.
Distribution of Assets by the Company. Subject to applicable law ------------------------------------- and any limitations contained elsewhere in this Agreement, no distribution shall be made if, after giving effect to the distribution, (a) the Company would not be able to pay its debts as they become due in the usual course of business, or (b) the Company's total assets would be less than the sum of its total liabilities.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, in such amount and at such times as the Members shall determine by Super Majority Interest, the Members shall distribute from time to time Distributable Cash to the Members, which distributions will be in the following order of priority:
(a) To the Members in proportion to their unreturned Capital Contributions until each Member has recovered its Capital Contributions; and
(b) To the Members in proportion to their Percentage Interests. All such distributions will be made only to the Persons who, according to the books and records of the Company, are the holders of record of the Economic Interests in respect of which such distributions are made on the actual date of distribution. Subject to Section 6.7, neither the Company nor any Member will incur any liability for making distributions in accordance with this Section 6.5.
Distribution of Assets by the Company. In case the Company shall, at any time during the Exchange Period, declare or make any cash or other distribution to all holders of Common Stock (each, a "Company Distribution"), then, upon the exchange of each Share, the Buyer shall be required to also transfer back to the Company the amount of such cash or other assets as Buyer receives in the Company Distribution with respect to such Share.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Managers may elect from time to time to distribute Distributable Cash to the Members, which distributions shall be in the following order of priority:
(a) To the Members in proportion to their unreturned Capital Contributions until each Member has recovered his or her Capital Contributions; and
(b) To the Members in proportion to their Percentage Interests. All such distributions shall be made only to the Persons who, according to the books and records of the Company, are the holders of record of the Economic Interests in respect of which such distributions are made on the actual date of distribution. Neither the Company nor any Manager shall incur any liability for making distributions in accordance with this Section 6.5.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Members may unanimously elect from time to time to cause the Company to make cash or other distributions. Distributions shall be first to the Members in proportion to their unreturned capital contributions until each Member has recovered its capital contributions, and then to the Members in proportion to their Percentage Interests. A Member's capital contribution shall, for purposes of this Paragraph 5.4, be deemed to include any payments by a Member of an affiliate of a Member pursuant to a personal guarantee on any obligations of the Company. Notwithstanding the preceding terms of this Paragraph 5.4, except to the extent such distribution may be in violation of the Act, the Company shall distribute annually to the Members an amount equal to the State and Federal income tax liability of a Member at the appropriate combined State and Federal marginal tax brackets which such Member would incur on account of the Member being required to report on his State or Federal income tax return such Member's pro rata share of the Net Profits of the Company allocated to such Member pursuant to Paragraph 5.2 (as applicable to an individual residing solely in California and determined after giving effect to any deduction of State taxes for Federal income tax purposes), prior to the due date for such payment to the appropriate tax authority.
Distribution of Assets by the Company. Subject to applicable law and any limitations contained elsewhere in this Agreement, the Managers may elect from time to time to distribute Distributable Cash to the Members, which distributions shall be in the following order of priority:
(i) First to the holders of the Preferred Units in an amount equal to distributions provided for in Preferred Unit Certificates until such time as they shall have received cumulative distributions in accordance with the terms of said Certificates.
(ii) All remaining Distributable Cash shall be distributed to the Members in accordance with their Percentage Interests. All such distributions shall be made only to the Persons who, according to the books and records of the Company, are the holders of record of the Economic Interests in respect of which such distributions are made on the actual date of distribution. Neither the Company nor any Manager shall incur any liability for making distributions in accordance with this Section 6.4.
