Distributions in Error Sample Clauses
The "Distributions in Error" clause addresses situations where payments or distributions are made incorrectly, such as overpayments or payments to the wrong party. Typically, this clause outlines the procedures for identifying such errors, notifying the affected parties, and recovering or returning the mistaken funds. Its core practical function is to ensure that any financial mistakes are promptly corrected, thereby maintaining the integrity of the payment process and preventing unjust enrichment.
Distributions in Error. Any distributions pursuant to this Section 5.01 made in error or in violation of Section 18-607(a) of the Act, will, upon good faith demand by the Managing Member (or the Holdings Member, if such distribution in error was received by the Managing Member), be returned to the Company.
Distributions in Error. Any distributions pursuant to this Article V made in error or in violation of Section 18-607(a) of the Act, will, upon demand by the General Partner, be returned to the Partnership.
Distributions in Error. Any distributions pursuant to this Section 5.01 made in error or in violation of Section 18-607(a) of the Act, will, upon demand by the Board, be returned to the Company.
Distributions in Error. Any distributions pursuant to this Article VI made in error or in violation of Section 18-607(a) of the Act, shall, upon demand by the Board of Directors, be returned to the Company.
Distributions in Error. Any distributions pursuant to this Section 5.1 made in error or in violation of the Delaware LLC Act will, upon demand by the Board, be returned to the Company.
Distributions in Error. The General Partner shall be required to ---------------------- return to the Partnership any distribution which was made to the General Partner in error.