Distribution of LLC Funds. (a) Subject to Section 4.05, the Members shall be entitled to receive distributions only (i) when determined by the Board, (ii) as contemplated by Section 11.03 or (iii) as contemplated by Sections 4.02 and 11.04 upon a liquidation or dissolution of the LLC. To the extent that the Board determines that any distributions shall be made to the Members other than the distribution of Non-Cumulative Dividends pursuant to Section 4.01(a) or distributions pursuant to Section 11.03 or 11.04, such distributions shall be distributed to the Members in the following order of priority:
Appears in 3 contracts
Samples: Operating Agreement (Arvinas Holding Company, LLC), Operating Agreement (Arvinas Holding Company, LLC), Operating Agreement (Arvinas Holding Company, LLC)
Distribution of LLC Funds. (a) Subject to Section 4.052.05, the Members shall be entitled to receive distributions only (ix) when determined by the Board, (iiy) as contemplated by Section 11.03 10.03 or (iiiz) as contemplated by Sections 4.02 and 11.04 upon a liquidation Section 10.04 in the event of any voluntary or involuntary liquidation, dissolution or winding up of the LLCLLC or Deemed Liquidation Event. To the extent that the Board determines that any distributions shall be made to the Members other than the distribution of Non-Cumulative Dividends pursuant to Section 4.01(a) or distributions pursuant to Section 11.03 10.03 or 11.0410.04, such distributions shall be distributed to the Members in the following order of priority:
Appears in 2 contracts
Samples: Operating Agreement (Day One Biopharmaceuticals Holding Co LLC), Operating Agreement (Day One Biopharmaceuticals Holding Co LLC)
