Common use of Identity of Distributees Clause in Contracts

Identity of Distributees. Distributions shall be made only to persons who, according to the books and records of the Company, are the owners of record of Membership Interests on a date to be determined by the Manager. Neither the Manager nor the Company shall incur any liability for making distributions in accordance with the preceding sentence, whether or not the Manager has knowledge or notice of any transfer of ownership of any Membership Interests.