Limitation of Distributions. Distributions will be subject to the provision by the JV for: (i) all JV liabilities in accordance with the Arizona Act, and (ii) reserves for liabilities taken in accordance with Section 4.7. The unused portion of any reserve shall be distributed after the Management Committee has determined that the need therefor has ceased.
Appears in 2 contracts
Samples: Limited Liability Company (Teknik Digital Arts Inc.), Joint Venture and Limited Liability Company Agreement (Teknik Digital Arts Inc.)
Limitation of Distributions. Distributions will be subject to the provision by the JV for: (i) all JV liabilities in accordance with the Arizona Act, and (ii) reserves for liabilities taken in accordance with Section 4.7. The unused portion of any reserve shall be distributed after the Management Committee has determined that the need therefor has ceased.accordance
Appears in 2 contracts
Samples: Limited Liability Company (Teknik Digital Arts Inc.), Joint Venture and Limited Liability Company Agreement (Teknik Digital Arts Inc.)
