Distribution Policy. Distributions of Distributable Cash from the Company may be made at any time as determined by the Board, in their sole and absolute discretion. Distributions will only be made to the extent Distributable Cash is available to the Company, as determined by the Board in its sole and absolute discretion, without requiring (i) the sale or pledge of Company assets at a time or on terms that the Board believes are not in the best interests of the Company, or (ii) a reduction in reserves that the Board determines are necessary or desirable for working capital or other Company purposes.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
