Common use of Maintenance of Capital Accounts; Withdrawals; Interest Clause in Contracts

Maintenance of Capital Accounts; Withdrawals; Interest. A single Capital Account shall be maintained for each of the Members. No Member shall be entitled to withdraw or receive any part of its Capital Account or receive any distribution with respect to its Interest except as provided in this Agreement. No Member shall be entitled to receive any interest on its Capital Account or Capital Contributions amount except as provided in this Agreement. Each Member shall look solely to the assets of the LLC for the return of its Capital Contributions and distributions with respect to its Interest and, except as otherwise provided in this Agreement, shall have no right or power to demand or receive any property or cash from the LLC. No Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations, except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sinclair Broadcast Group Inc)

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Maintenance of Capital Accounts; Withdrawals; Interest. A single Separate Capital Account Accounts shall be maintained for each of the Members. No Except as otherwise provided in this Agreement, (i) no Member shall be entitled to withdraw or receive any part of its Capital Account or receive any distribution with respect to its Interest except as provided in this Agreement. No Interest, (ii) no Member shall be entitled to receive any interest on its Capital Account or Capital Contributions amount except as provided in this Agreement. Each Contributions, (iii) each Member shall look solely to the assets of the LLC for the return of its Capital Contributions Contributions, Capital Accounts, and distributions with respect to its Interest andInterest, except as otherwise provided in this Agreement, (iv) no Member shall have no any right or power to demand or receive any property or cash from the LLC. No , and (v) no Member shall have priority over any other Member as to the return of its Capital Contributions, Capital Accounts, distributions or allocations, except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (EcoReady Corp)

Maintenance of Capital Accounts; Withdrawals; Interest. A single Separate Capital Account Accounts amounts shall be maintained for each of the Members. No Member Members shall be entitled to withdraw or receive any part of its Capital Account or receive any distribution with respect to its Interest except as provided in this Agreement. No Member shall be entitled to receive any interest on its Capital Account or Capital Contributions amount except as provided in this AgreementAccount. Each Member shall look solely to the assets of the LLC for the return of its Capital Contributions and distributions with respect to its Interest and, except as otherwise provided in this Agreement, shall have no right or power with respect to its Interest to demand or receive any property or cash from the LLC. No Member shall have priority over any other Member as to the return of its Capital Contributions, LLC distributions or allocations, allocations relating to its Units except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Level Brands, Inc.)

Maintenance of Capital Accounts; Withdrawals; Interest. A single Capital Account Accounts shall be maintained for each of the Members. No Member shall be entitled to withdraw or receive any part of its Capital Account or to receive any distribution with respect to its Interest except as provided in this Agreement. No Member shall be entitled to receive any interest on its Capital Account Contributions or with respect to its Capital Contributions amount except as provided in this AgreementAccount. Each Member shall look solely to the assets of the LLC for the return of its Capital Contributions and distributions with respect to its Interest and, except as otherwise provided in this Agreement, shall have no right or power to demand or receive any property or cash from the LLC. No Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations, except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2with respect to distributions.

Appears in 1 contract

Samples: Member Interest Purchase Agreement (Aldila Inc)

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Maintenance of Capital Accounts; Withdrawals; Interest. A single Separate Capital Account Accounts shall be maintained for each of the Members. Capital Accounts shall be maintained in accordance with the requirements of Section 704(b) of the Code and the applicable Treasury Regulations thereunder. No Member shall be entitled to withdraw or receive any part of its Capital Account or receive any distribution with respect to any of its Interest Units except as provided in this Agreement. No Member shall be entitled to receive any interest on its his Capital Contributions or Capital Account or Capital Contributions amount except as provided in this Agreement. Each Member shall look solely to the assets of the LLC for the return of its Capital Contributions and distributions with respect to its Interest Units and, except as otherwise provided in this Agreement, shall have no right or power to demand or receive any property or cash from the LLC. No Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations, except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Dover Glen, Inc.)

Maintenance of Capital Accounts; Withdrawals; Interest. A single Capital Account Accounts shall be maintained for each of the Members. No Member shall be entitled to withdraw or receive any part of its Capital Account or to receive any distribution with respect to its Interest except as provided in this Agreement. No Member shall be entitled to receive any interest on its Capital Contributions or with respect to its Capital Account or Capital Contributions amount except as provided in this Agreement. Each Member shall look solely to the assets of the LLC Company for the return of its Capital Contributions and distributions with respect to its Interest and, except as otherwise provided in this Agreement, shall have no right or power to demand or receive any property or other than cash from the LLCCompany. No Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations, except as provided in this Agreement, including, for the avoidance of doubt, in Section 4.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Axiall Corp/De/)

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