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Common use of Distributions of Capital Clause in Contracts

Distributions of Capital. Except as expressly provided in this Agreement or as otherwise agreed by the Members, no Member shall be entitled to withdraw capital or to receive distributions of or against capital without the prior written consent of, and upon the terms and conditions agreed upon by, the Members. Each Member shall look solely to the assets of the Company for return of such Member’s capital contributions.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Emeritus Corp\wa\), Limited Liability Company Agreement, Agreement of Purchase and Sale

Distributions of Capital. Except as expressly provided in ------------------------ this Agreement or as otherwise agreed by the Members, no Member shall be entitled to withdraw capital or to receive distributions of or against capital without the prior written consent of, and upon the terms and conditions agreed upon by, the Members. Each Member shall look solely to the assets of the Company for return of such each other Member’s capital contributions.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Overseas Partners LTD)

Distributions of Capital. Except as expressly provided in this Agreement or as otherwise agreed by the Members, no Member shall be entitled to withdraw capital or to receive distributions of or against capital without the prior written consent of, and upon the terms and conditions agreed upon by, the Members. Each Member shall look solely to the assets of the Company for return of such Member’s capital contributions.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Capital Senior Living Corp)

Distributions of Capital. Except as expressly provided in this Agreement or as otherwise agreed by the MembersAgreement, no Member shall be entitled to withdraw capital or to receive distributions of or against capital without the prior written consent approval of, and upon the terms and conditions agreed upon by, the MembersBoard. Each Member shall look solely to the assets of the Company for return of such Member’s capital contributionsCapital Contributions. Nothing herein contained shall relieve any Member of such Member’s obligation to pay any liability or indebtedness owing the Company or the other Member by such Member, and the Company and the other Member shall be entitled at all times to enforce such obligations of such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Taylor Morrison Home Corp)