Priority and Return of Capital. No Series Member shall have priority over any other Series Member either as to the return of Capital Contributions or as to allocation of Profits, Losses or Distributions; provided that this Article 7.4 shall not apply to loans made to the Company by the Founder, a Series Manager or Series Member with respect to a Series, unless Member Classes specifically having such priority are provided in a Series Agreement.
Appears in 9 contracts
Samples: Series Limited Liability Company Agreement (VV Markets LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC)
Priority and Return of Capital. No Except as may be expressly provided in Section 11, no Member associated with a Series Member shall have priority over any other Series Member associated with such Series, either as to the return of Capital Contributions or as to allocation of ProfitsNet Income, Net Losses or Distributionsdistributions; provided that this Article 7.4 Section 8.5 shall not apply to loans made to the Company by the Founder, a Series Manager or Series Member with respect to a Series, unless Member Classes specifically having such priority are provided in a Series Agreement.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)
Priority and Return of Capital. No Except as may be expressly provided in Article IX, no Member associated with a Series Member shall have priority over any other Series Member associated with such Series, either as to the return of Capital Contributions or as to allocation of Profits, Losses or Distributionsdistributions; provided that this Article 7.4 Section 6.04 shall not apply to loans made to the Company by the Founder, a Series Manager or Series Member with respect to regarding a Series, unless Member Classes specifically having such priority are provided in a Series Agreement.
Appears in 2 contracts
Samples: Series Limited Liability Company Operating Agreement, Series Limited Liability Company Operating Agreement
Priority and Return of Capital. No Except as expressly provided in Article IX, members associated with the Series Member shall have no priority over any other member associated with the Series Member either as to for the return or profit, loss or distribution of Capital Contributions or as to allocation of Profits, Losses or Distributions; provided that this Article 7.4 shall capital contributions. This Section 6.04 does not apply to loans made by members to the Company in connection with the Series. Section 6.05 - Company: Members who receive distribution from the Company in connection with the Series shall be responsible for the Company only to the extent provided by the Founder, a Series Manager or Series Member with respect to a Series, unless Member Classes specifically having such priority are provided in a Series Agreementother applicable laws. Voting Members Section 7.
Appears in 1 contract
Samples: Operating Agreement