Right to Distributions. No Member shall have the right to receive distributions of property from the Company. No Member shall have the right to receive, and the Board of Directors shall not have the right to make, distributions to a Member which include a return of all or any part of its Capital Contribution, except to the extent of Cash Flow distributions, and Company property available for distribution on dissolution of the Company, if any.
Appears in 3 contracts
Samples: Membership Interest Purchase & Assignment Agreement, Operating Agreement (Telos Corp), Membership Interest Purchase & Assignment Agreement (Telos Corp)
Right to Distributions. No Member shall have the right to receive distributions of property from the Company. No Member shall have the right to receive, and the Board of Directors Company shall not have the right to make, distributions to a Member which include a return of all or any part of its Capital Contribution, except to the extent of Cash Flow distributions, and Company property available for distribution on dissolution of the Company, if any.
Appears in 1 contract
Samples: Formation/Operating Agreement
