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.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Manitowoc FSG Operations, LLC), Operating Agreement (Manitowoc FSG Operations, LLC), Operating Agreement (Manitowoc FSG Operations, LLC)
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, excluding liabilities to the Member on account of its Initial Capital Contribution and Additional Capital Contributions.
Appears in 9 contracts
Samples: Operating Agreement (Jacob Leinenkugel Brewing Co., LLC), Limited Liability Company Agreement (GA Industries Holdings, LLC), Company Agreement (GA Industries Holdings, LLC)
Limitations Upon Distributions. No distribution shall be declared or made if, after giving effect to t 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.
Appears in 1 contract
Samples: Operating Agreement
Limitations Upon Distributions. No distribution Distribution shall be declared or made if, after giving effect to the distributionDistribution, 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.the
Appears in 1 contract
Samples: Operating Agreement (Kti Inc)
Limitations Upon Distributions. No distribution Distribution shall be declared or made if, after giving effect to the distributionDistribution, 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. Except as otherwise may be permitted upon liquidation of the Company under Section 9.3 or as may be approved by Unanimous Vote, the Company shall not make any Distribution to the Members in property other than in cash.
Appears in 1 contract
Limitations Upon Distributions. No distribution shall be declared or made ifand paid unless, after giving effect to the distributiondistribution is made, 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 are in excess of all liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement
