Return of Distributions. Members who receive distributions made in violation of the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this Agreement, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
Appears in 20 contracts
Samples: Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC)
Return of Distributions. Members who receive Except for distributions made in violation of the Act Act, other applicable law, or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this LLC Agreement, no the Managing Member shall not be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a the Managing Member or paid by a the Managing Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Managing Member.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (BMW Fs Securities LLC), Limited Liability Company Agreement (Financial Services Vehicle Trust), Limited Liability Company Agreement (BMW Fs Securities LLC)
Return of Distributions. Members who receive distributions made in violation of the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this Agreement, no Member or Economic Interest Owner shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or Economic Interest Owner or paid by a Member or Economic Interest Owner for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the MemberMember or Economic Interest Owner.
Appears in 7 contracts
Samples: Index Operating Agreement, Limited Liability Company Agreement (Solar Power, Inc.), Operating Agreement (ARAMARK FHC Kansas, Inc.)
Return of Distributions. Members who receive receiving distributions made in violation of the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this Agreement, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
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)
Return of Distributions. Members who receive receiving distributions made in violation of this Agreement or the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of this Agreement or the Act or this AgreementAct, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (L Brands Service Company, LLC)
Return of Distributions. Members who receive distributions made in ----------------------- violation of the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this Agreement, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
Appears in 1 contract
Samples: First American Financial Corp
Return of Distributions. Members who receive distributions made in violation of the Act or this Agreement shall return such distributions to the Company. (a) Except for for: (i) those distributions made in violation of the Act or this Agreement; or (ii) as required pursuant to 7.6(b) below, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
Appears in 1 contract
Samples: Operating Agreement (Sports Entertainment Enterprises Inc)