Common use of Distributions to INC Clause in Contracts

Distributions to INC. Notwithstanding the foregoing in this Section 4.01, the Managing Member, in its sole discretion, may authorize that cash be paid to INC (which payment shall be made without pro rata distributions to the other Members) in exchange for the redemption, repurchase or other acquisition of INC’s Units to the extent that such cash payment is used to redeem, repurchase or otherwise acquire an equal number of Equity Securities of INC in accordance with Section 3.06(a). For the avoidance of doubt, distributions made under this Section 4.01(b) may not be used to pay dividends or distributions on Equity Securities of INC.

Distributions to INC. Notwithstanding the foregoing in this Section 4.01, the Managing Member, in its sole discretion, may authorize that cash be paid to INC (which payment shall be made without pro rata distributions to the other Members) in exchange for the redemption, repurchase or other acquisition of INC’s Units to the extent that such cash payment is used to redeem, repurchase or otherwise acquire an equal number of Equity Securities of INC in accordance with Section 3.06(a). For the avoidance of doubt, distributions made under this Section 4.01(b) may not be used to pay dividends or distributions on Equity Securities of INC.. (c)