Distributions of Available Cash from Operations. Subject to the provisions of the Senior Loan Documents (or any other loan documents entered into in accordance with the provisions of Section 5.1(b)(ii)), the Annual Budget, the Company shall make distributions of Available Cash from Operations quarterly; provided, notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Members if such distribution would violate Section 18-607 of the Delaware Act or any other applicable law. Except as provided in Section 4.2, the Company, in any given quarter, may not make any distributions which would cause the amount of working capital to be less than the Threshold Working Capital Amount. If such distribution shall inadvertently be made, the Members agree to immediately return such excess amount distributed to the Company (and such returned excess amount shall not be treated as a Capital Contribution). Distributions of Available Cash From Operations shall be made in the following order of priority:
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Sentio Healthcare Properties Inc), Limited Liability (Sentio Healthcare Properties Inc), Limited Liability Company Agreement (Sentio Healthcare Properties Inc)
