Distributions to Record Holders. (a) The Managing Member may adopt a cash distribution policy, which it may change from time to time without amendment to this Agreement. (b) The Company will make distributions, if any, to all Record Holders of Units, Pro Rata. (c) Notwithstanding Section 6.3(b), in the event of the dissolution and liquidation of the Company, all cash received during or after the Quarter in which the Liquidation Date occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (d) Each distribution in respect of a Unit shall be paid by the Company, directly or through any other Person or agent, only to the Record Holder of such Unit as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Company’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Viper Energy, Inc.), Limited Liability Company Agreement (Viper Energy, Inc.), Limited Liability Company Agreement (Rattler Midstream Lp)
