Common use of Withdrawal or Reduction of Capital Contributions Clause in Contracts

Withdrawal or Reduction of Capital Contributions. A Member shall ------------------------------------------------ not receive from the Company any portion of a Capital Contribution until all indebtedness, liabilities of the Company, except any indebtedness, liabilities and obligations to Members on account of their Capital Contributions, have been paid or there remains property of the Company sufficient to pay them. A Member, irrespective of the nature of the Capital Contribution of such Member, has only the right to demand and receive cash in return for such Capital Contribution.

Appears in 4 contracts

Samples: Operating Agreement Operating Agreement (Mediacom LLC), Operating Agreement (Mediacom LLC), Operating Agreement (Mediacom LLC)

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Withdrawal or Reduction of Capital Contributions. A Member shall ------------------------------------------------ not receive from the Company any portion of a Capital Contribution until all indebtedness, indebtedness and liabilities of the Company, except any indebtedness, liabilities and obligations to Members on account of their Capital Contributions, have been paid or there remains property of the Company Company, in the reasonable discretion of the Managers, sufficient to pay them. A Member, irrespective of the nature of the Capital Contribution of such Member, has only the right to demand and receive cash in return for such Capital Contribution.

Appears in 1 contract

Samples: Operating Agreement (Victory Entertainment Corp)

Withdrawal or Reduction of Capital Contributions. A Member shall ------------------------------------------------ not receive from the Company any portion of a Capital Contribution until all indebtedness, liabilities of the Company, except any indebtedness, liabilities and obligations to Members on account of their Capital Contributions, have been paid or there remains property of the Company Company, in the sole discretion of the Manager, sufficient to pay them. A Member, irrespective of the nature of the Capital Contribution of such Member, has only the right to demand and receive cash in return for such Capital Contribution.

Appears in 1 contract

Samples: Operating Agreement (Mediacom LLC)

Withdrawal or Reduction of Capital Contributions. A Member shall ------------------------------------------------ not receive from the Company any portion of a Capital Contribution until all indebtedness, liabilities of the Company, except any indebtedness, liabilities and obligations to Members on account of their Capital Contributions, have been paid or there remains property of the Company Company, in the sole discretion of a majority in interest of the Members, sufficient to pay them. A Member, irrespective of the nature of the Capital Contribution of such Member, has only the right to demand and receive cash in return for such Capital Contribution.

Appears in 1 contract

Samples: Operating Agreement (Am-Source, LLC)

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Withdrawal or Reduction of Capital Contributions. A Member shall not ------------------------------------------------ not receive from the Company any portion of a Capital Contribution until all indebtedness, liabilities of the Company, except any indebtedness, liabilities and obligations to Members on account of their Capital Contributions, have been paid or there remains property of the Company Company, in the sole discretion of the Members, sufficient to pay them. A Member, irrespective of the nature of the Capital Contribution of such Member, has only the right to demand and receive cash in return for such Capital Contribution.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Project Orange Capital Corp)

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