Common use of Withdrawal or Reduction of the Member’s Contributions to Capital Clause in Contracts

Withdrawal or Reduction of the Member’s Contributions to Capital. a. The Member shall not receive out of the Company’s property any part of the Member’s Capital Contribution until all liabilities of the Company have been paid or there remains property of the Company sufficient to pay them. b. The Member, irrespective of the nature of the Member’s Capital Contribution, has only the right to demand and receive cash in return for such Capital Contribution. The Member shall not be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein. The Capital Contribution of the Member shall not be considered as a liability of the Company.

Appears in 16 contracts

Samples: Operating Agreement (Outfront Media Minnesota LLC), Operating Agreement (Outfront Media Minnesota LLC), Operating Agreement (Outfront Media Minnesota LLC)

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Withdrawal or Reduction of the Member’s Contributions to Capital. a. The Member shall not receive out of the Company’s property any part of the Member’s Capital Contribution until all liabilities of the Company have been paid or there remains property of the Company sufficient to pay them. b. The Member, irrespective of the nature of the Member’s Capital Contribution, Member has only the right to demand and receive cash or any other property contributed to the Company in return for such of the Member’s Capital Contribution. The Member shall not be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein. The Capital Contribution of the Member shall not be considered as a liability of the Company.

Appears in 1 contract

Samples: Operating Agreement (Outfront Media Minnesota LLC)

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