Common use of Members Without Units Clause in Contracts

Members Without Units. Notwithstanding any provision in this Article VI to the contrary, no allocation or distribution shall be made to any Member who does not own a Unit.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Members Without Units. Notwithstanding any provision in this Article VI to the contrary, no allocation or distribution shall be made to any Member who does not own a Unit, including any Affiliate Member.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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