Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company.
Appears in 16 contracts
Samples: Operating Agreement (Jefferson Holdings Inc.), Operating Agreement (Jefferson Holdings Inc.), Operating Agreement (Owens Corning)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company. No distribution shall be made to the Member if such distribution is prohibited by the Act.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC), Limited Liability Company Operating Agreement (2420 Lakemont Avenue MM, LLC), Limited Liability Company Agreement (2420 Lakemont Avenue MM, LLC)
Limitations on Distributions. No distribution shall be declared and paid unless, if after the distribution is made, the value of assets of the Company are in excess of all would exceed the liabilities of the Company, except liabilities to the Members on account of their Capital Contributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Member on account of its interest in the Company if such distribution would violate any Applicable Law.
Appears in 9 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the fair value of assets of the Company are in excess of all would exceed the liabilities of the Company, except liabilities to the Members on account of their Capital Contributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Member on account of its interest in the Company if such distribution would violate any Applicable Law.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC), Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC), Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company.the
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC), Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC), Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC)
Limitations on Distributions. No distribution Distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their Capital Accounts.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Operating Agreement (Advanta Business Services Corp), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)
Limitations on Distributions. No distribution Distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to its Member and such distribution complies with applicable law.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their capital accounts.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Americas Power Partners Inc)
Limitations on Distributions. No distribution Distribution shall be declared and paid unless, after the distribution Distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to the Members on account of their Capital Accounts.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (NewGen Technologies, Inc), Limited Liability Company Agreement (NewGen Technologies, Inc)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their Capital Accounts.
Appears in 2 contracts
Samples: Operating Agreement (Citi TeeVee LLC), Operating Agreement (Fibermark Office Products LLC)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company. No distribution shall be made to a Member if such distribution is prohibited by the Act.
Appears in 2 contracts
Samples: Operating Agreement (Professional Teleconcepts, Inc.), Operating Agreement (C2 Utility Contractors LLC)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their Member Accounts.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Higher Education Funding I), Limited Liability Company Agreement (Higher Education Funding I)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their Capital Contributions.
Appears in 1 contract
Limitations on Distributions. No distribution Distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all the liabilities of the Company. Notwithstanding any other provision of this Agreement, the Company shall not make a Distribution to any Member on account of its Membership Interest if such Distribution would violate Section 18-607 of the Act.
Appears in 1 contract
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company., except liabilities to Members on account of their Capital Accounts. ARTICLE X
Appears in 1 contract
Samples: Member Control and Operating Agreement (Investors Real Estate Trust)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their capital contributions.
Appears in 1 contract
Samples: Operating Agreement (Gpacsub LLC)
Limitations on Distributions. No distribution Distribution shall be declared and paid made unless, after the distribution Distribution is made, the assets Property of the Company are is in excess of all liabilities of the Company, except liabilities to Members on account of their Capital Accounts.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Premier Finance Biloxi Corp)
Limitations on Distributions. No distribution Distribution shall be declared and paid unless, after the distribution Distribution is made, the assets of the Company are in excess of all liabilities of the Company.
Appears in 1 contract
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company. No distribution shall be made to the Shareholder if such distribution is prohibited by the Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (WVLT-TV, Inc.)
Limitations on Distributions. No distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Shareholders on account of their Capital Accounts.
Appears in 1 contract
Samples: Operating Agreement (ServiceMaster Consumer Services Limited Partnership)
