Common use of Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company Clause in Contracts

Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided herein, a Member may not withdraw from the Company without the written consent of the other Member. In no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by the other Member.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

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Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided herein, a Member may not withdraw from the Company without the written consent of the other MemberMembers. In no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by the other MemberMembers.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided herein, a Member may not withdraw from the Company without the written consent of DTO Management and the other Member. In Supermajority Vote of the Members and in no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by DTO Management and by the other MemberSupermajority Vote of the Members.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Inc), Operating Agreement (Medcath Corp)

Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided herein, a Member may not withdraw from the Company without the written consent of the other Member. In no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by the other Member.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise expressly provided hereinin this Agreement, a Member may not withdraw from the Company without the written consent of the other MemberInitial Members. In no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by the other MemberBoard.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

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Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with the requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided hereinin Article VIII, a Member may not withdraw from the Company without the written consent of the other MemberRequired Members. In no case shall a Member have the right to have its Membership Interest redeemed by the Company unless approved by the other MemberRequired Members.

Appears in 1 contract

Samples: Operating Agreement (Medcath Corp)

Maintenance of Capital Accounts; Withdrawals of Capital; Withdrawals from the Company. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein. Except as otherwise provided in this Agreement, each Member shall look solely to the assets of the Company for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Company. 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. Except as otherwise provided herein, a Member may not withdraw from the Company without the written consent of the other MemberRequired Members. In no case shall a Member have the right to have require that his, her or its Membership Interest be redeemed by the Company unless approved by the other MemberRequired Members.

Appears in 1 contract

Samples: Operating Agreement (Medcath Corp)

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