Rights of Members; Resignation. (a) Except as otherwise provided in this Agreement, each Member shall look solely to the property of the Company for the return of its Capital Contributions, and, except in respect of the Company’s Indebtedness or obligations to a Member, shall have no right or power to demand or receive property other than cash from the Company. (b) No Member shall resign from the Company (in its capacity as a Member) prior to the dissolution and winding up of the Company in accordance with this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bioventus Inc.), Limited Liability Company Agreement (Bioventus Inc.)
Rights of Members; Resignation. (a) Except as otherwise provided in this Agreement, each Member shall look solely to the property of the Company for the return of its Capital Contributions, and, except in respect of the Company’s Indebtedness or obligations to a Member, shall have no right or power to demand or receive property other than cash from the Company.
(b) No Member shall resign from the Company (in its capacity as a Member) prior to the dissolution and winding up of the Company in accordance with this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Express Parent LLC)
Rights of Members; Resignation. (a) Except as otherwise provided in this Agreement, each Member shall look solely to the property assets of the Company for the return of its Capital Contributions, and, except capital contributions (and then only in respect of accordance with the Company’s Indebtedness or obligations to a Member, distribution provisions set forth in Article 6) and shall have no right or power to demand or receive property other than cash from the Company.
(b) No Member shall resign from the Company (in its capacity as a Member) prior to the dissolution and winding up of the Company in accordance with this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (American Homes 4 Rent)
Rights of Members; Resignation. (a) Except as otherwise provided in this Agreement or in any agreement referred to in this Agreement, each Member shall look solely to the property assets of the Company for the return of its Capital Contributions, and, except in respect of the Company’s Indebtedness or obligations to a Member, Contributions and shall have no right or power to demand or receive property other than cash from the Company.
(b) No Member shall resign from the Company (in its capacity as a Member) prior to the dissolution and winding up of the Company in accordance with this AgreementAgreement except as a consequence of a permitted Transfer of all of such Member's Interest.
Appears in 1 contract
Samples: Operating Agreement (Bluerock Residential Growth REIT, Inc.)
Rights of Members; Resignation. (a) Except as otherwise provided in this Agreement or in any agreement referred to in this Agreement, each Member shall look solely to the property assets of the Company for the return of its Capital Contributions, and, except in respect of the Company’s Indebtedness or obligations to a Member, Contributions and shall have no right or power to demand or receive property other than cash from the Company.
(b) No Member shall resign from the Company (in its capacity as a Member) prior to the dissolution and winding up of the Company in accordance with this AgreementAgreement except as a consequence of a permitted Transfer of all of such Member’s Interest.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
