Limitations Upon Distributions. No distribution shall be declared or made if, after giving effect to the distribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company.
Limitations Upon Distributions. No distribution shall be made if such distribution would violate any contract or agreement to which the Company is then a party or any Applicable Law then applicable to the Company.
Limitations Upon Distributions. No Distribution shall be declared and paid if payment of such Distribution would cause the Company to violate any limitation on distributions provided in the Act.
Limitations Upon Distributions. No distribution shall be made to the Member if, in the sole discretion of the Manager, (a) the Company would not be able to pay its debts as they become due in the usual course of business; (b) the Company’s total assets would be less than the sum of its total liabilities; or (c) such distribution would otherwise constitute a violation of the Act.
Limitations Upon Distributions. Anything in this LLC Agreement to the contrary notwithstanding, no distribution will be made to a Member if:
(a) Such Member has an Adjusted Deficit Capital Account, or if such distribution would cause such Member to have an Adjusted Deficit Capital Account.
(b) After giving effect to the distribution, the fair value of the liabilities of the Company exceeds the fair value of all assets of the Company, excluding those liabilities (i) to Members on account of their Capital Accounts, and (ii) for which the recourse of creditors is limited to specified Property, but then also excluding that Property from the calculation of assets. The fair market value of Property that is subject to a liability for which the recourse of creditors is limited will be included in the assets of the Company only to the extent the fair market value of that Property exceeds that liability;
(c) The distribution would violate the provisions of §18-607 of the Act or any other Law; or
(d) The distribution would violate the provision of any instrument evidencing loans made to the Company by Third Party financial institutions.
Limitations Upon Distributions. (a) No distributions shall be made and paid if, after the distribution is made either;
(i) the Company would be insolvent; or
(ii) the net assets of the Company would be less than zero.
(b) The Managers may base a determination that a distribution may be made under Section 9.4 in good faith reliance upon a balance sheet and profit and loss statement of the Company fairly reflecting the financial condition of the Company.
Limitations Upon Distributions. Notwithstanding Section 3.4, no distribution shall be made to the Members to the extent that such distribution would violate the Act or any other applicable law.
Limitations Upon Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution to any Member unless, after giving effect to such distribution, the assets of the Company will be in excess of all liabilities of the Company (except liabilities for which the recourse of creditors is limited to specific Property of the Company). For purposes of the immediately preceding sentence, the fair value of Company Property that is subject to a liability for which the recourse of creditors is limited shall be included in the assets of the Company only to the extent the fair value of that Property exceeds that liability. Notwithstanding any provision to the contrary contained in this Agreement, the Company, and the Members on behalf of the Company, shall not make a distribution to any Member on account of its Economic Interest in the Company if such distribution would violate Section 18-607 of the Delaware Act or other applicable law.
Limitations Upon Distributions. No distribution shall be declared and paid unless, after the distribution is made, the fair market value of the assets of the Company are in excess of all liabilities of the Company.
Limitations Upon Distributions. Notwithstanding anything to the contrary in Section 4.6, no distribution shall be made if such distribution would violate the Delaware Act.
