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: Operating Agreement (Manitowoc FSG Operations, LLC), Operating Agreement (Manitowoc FSG Operations, LLC), Limited Liability Company 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), Company Agreement (GA Industries Holdings, LLC), Limited Liability Company Agreement (GA Industries Holdings, LLC)
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 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 shall be declared or made if, and 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 (as determined in accordance with accounting principles applied on a consistent basis under the Company’s method of accounting), except liabilities to Members on account of their Capital Contributions.
Appears in 1 contract
Samples: Company Agreement (NGL Supply Terminal Company, LLC)
