Voluntary Withdrawal of Members and Withdrawal Payments. No Class A Member or Assignee shall have the right to resign or withdraw except with the approval of the Managing Member and shall not receive a distribution of the principal portion of all or part of its Capital Contribution in redemption of such Class A Member’s Interest (“Capital Withdrawal”) except as set forth below:
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Voluntary Withdrawal of Members and Withdrawal Payments. No Class A Member or Assignee shall have the right to resign or withdraw except with the approval of the Managing Member and shall not receive a distribution of the principal portion of all or part of its Capital Contribution in redemption of such Class A Member’s 's Interest (“"Capital Withdrawal”") except as set forth below:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC)
Voluntary Withdrawal of Members and Withdrawal Payments. No Class A Member or Assignee shall have the right to resign or withdraw except with the approval of the Managing Member and shall not receive a distribution of the principal portion of all or part of its Capital Contribution in redemption of such Class A Member’s 's Interest (“"Capital Withdrawal”") except as set forth below:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
