Common use of Priority and Return of Capital Clause in Contracts

Priority and Return of Capital. Except as may be expressly provided in Sections 8.01 and 14.04, no Member or Economic Interest Owner shall have priority over any other Member or Economic Interest Owner, either as to the return of Capital Contributions or as to Profits, Losses or Distributions. This Section shall not apply to loans (as distinguished from Capital Contributions) which a Member has made to the Company. No Member shall have the right to (i) have that Member’s Units redeemed or (ii) subject to Article VIII, Article XI and Article XIV, otherwise receive Property of the Company, even if that Member dissociates prior to termination of the Company. To the extent a Member has a right to demand a distribution or return of the Member’s Capital Contributions, the Member shall have only the right to demand and receive cash therefor.