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.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (RPC Bramlage, Inc.), Limited Liability Company Agreement (RPC Bramlage, Inc.), Limited Liability Company Agreement (RPC Bramlage, Inc.)
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 ActAct or other applicable law.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Aep Industries Inc)
