Priority Among Members Sample Clauses
The 'Priority Among Members' clause establishes the order in which members of an organization or entity are entitled to receive distributions, payments, or other benefits. In practice, this clause specifies whether certain members have preferential rights over others, such as receiving returns on investment before other members or being paid first in the event of liquidation. By clearly defining the hierarchy of entitlements, this clause helps prevent disputes among members and ensures transparency in the allocation of financial benefits.
Priority Among Members. No Member shall be entitled to any priority or preference over any other Member in regard to the return of capital or distribution of profits of the Company.
Priority Among Members. Except as expressly provided in this Agreement (including the Exhibits hereto), no Member or Assignee shall have priority over any other Member or Assignee either as to the return of Capital Contributions or, except to the extent provided by Sections 6.2 or 6.3 hereof, or otherwise expressly provided in this Agreement, as to profits, losses or distributions.
Priority Among Members. No Member or Assignee shall have priority over any other Member or Assignee except to the extent specifically provided in this Agreement, including, without limitation, Article XV hereof.
Priority Among Members. No Member shall be entitled to any priority or preference over any other Member in regard to the affairs of the Company or any Series. The allocation of items of income or expense among only those persons who were Members during a monthly period to which such item of income or expense relates shall not be deemed a priority or preference in favor of any Member.