Liability for Wrongful Distributions. A Member who receives a distribution from the Company which the Member knows to be in violation of this Agreement or the Act shall be liable to the Company for the amount of such distribution for a period of three (3) years after it was made.
Appears in 3 contracts
Samples: Note, Operating Agreement, Operating Agreement
Liability for Wrongful Distributions. A If a Member who receives a distribution from the Company which the Member knows to be in violation of this Agreement or the Act Act, the Member shall be liable to the Company for the amount of such distribution for a period of three (3) years after it was made.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Gym-Card, LLC)
Liability for Wrongful Distributions. A Member who receives a distribution from the Company which the Member knows to be in violation of this Agreement or the Act shall be liable to the Company for the amount of such distribution for a period of three (3) years after it was made.
Appears in 2 contracts
Samples: Operating Agreement (Edison Nation, Inc.), Operating Agreement
Liability for Wrongful Distributions. A Member who receives a distribution from the Company which the Member knows to be in violation of this Agreement or the Act LLC Law shall be liable to the Company for the amount of such distribution for a period of three (3) years after it was madefrom the date of the distribution.
Appears in 1 contract
