Distribution of Company Funds - In General. (a) Except as necessary to comply with the Sections of this Article VI, the Board of Managers, in its sole discretion, may distribute all Net Operating Cash Flow of the Company over and above Reasonable Reserves to the Members on a pro rata basis based on the proportion of Units then held by each such Member to the total number of Units then issued and outstanding. (b) Except as necessary to comply with certain of the following Sections of this Article VI, all other cash flow of the Company shall be distributed among the Members of the Company as determined by Supermajority Approval of the Board on a pro rata basis based on each Member’s Unit Proportion.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
