Non-Cash Distributions. Whenever a distribution provided for in this Article VIII shall be payable in property other than cash, the value of such distribution shall be deemed to be the Gross Asset Value of such property.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (NextWave Wireless LLC), Limited Liability Company Agreement (NextWave Wireless LLC), Limited Liability Company Agreement (NextWave Wireless LLC)
Non-Cash Distributions. Whenever a distribution provided for in this Article VIII IX shall be payable in property other than cash, the value of such distribution shall be deemed to be the Gross Asset Value of such property.
Appears in 2 contracts
Samples: Subscription Agreement (Blockchain Industries, Inc.), Subscription Agreement (Blockchain Industries, Inc.)
Non-Cash Distributions. Whenever a distribution provided for in this Article VIII shall be payable in property other than cash, the value amount of such the distribution shall be deemed to be equal the Gross Asset Value of such property.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Solid Biosciences, LLC)
Non-Cash Distributions. Whenever a distribution provided for in this Article VIII shall be payable in property other than cash, the value of such distribution shall be deemed to be the Gross Asset Value gross fair market value of such propertyproperty at the time of distribution as determined by the Manager in its sole discretion.
Appears in 1 contract
Samples: Limited Liability Company Agreement (L Brands Service Company, LLC)
Non-Cash Distributions. Whenever a distribution provided for in this Article VIII ARTICLE VII shall be payable in property other than cash, the value of such distribution shall be deemed to be the Gross Asset Value of such property.
Appears in 1 contract
Samples: LLC Interest Purchase Agreement (Mister Goody, Inc.)
