No Priorities of Members Sample Clauses

No Priorities of Members. Subject to the provisions of this Agreement, no Member will have a priority over any other Member as to any Distribution, whether by way of return of capital or by way of profits, or as to any allocation of Net Income, Net Loss or special allocations.
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No Priorities of Members. No Member shall have the right to the return of his or her contribution to the capital of the Company except as otherwise provided by, and in accordance with, the Act, the Articles of Organization and this Agreement. No Member shall have the right to demand or to receive property other than cash in return for his or her contribution to the Company, either as to the return of contributions of capital to Company or as to profits, losses, or distributions.
No Priorities of Members. Except as expressly provided in this Agreement or the SBIC Act, no Member shall have the right to demand or receive property other than cash in return for its Capital Contribution, nor shall any Member have priority over any other Member, either as to the return of its Capital Contribution or as to profits, losses or distributions. 6.5
No Priorities of Members. Subject to the provisions of this Agreement, no Member will have a priority over any other Member as to any Distribution.
No Priorities of Members. No Withdrawals of Capital. Except as otherwise specified in ARTICLE VI and in the Act, no Member shall have a priority over any other Member as to any Distribution, whether by way of return of capital or by way of profits, or as to any allocation of Net Profits or Net Losses. No Member shall have the right to withdraw or reduce its Capital Contributions in the Company except as a result of the dissolution of the Company or as otherwise provided in Section 4.3 or the Act, and no Member shall have the right to demand or receive property other than cash in return for its Capital Contributions.

Related to No Priorities of Members

  • Rights of Members Except as otherwise provided in this Agreement, (a) each Member shall look solely to the assets of the Company for the return of its Capital Contribution, (b) no Member shall have the right or power to demand or receive property other than cash from the Company and (c) except as provided in this Agreement, no Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations.

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