Withdrawals by Members Sample Clauses

Withdrawals by Members. No Member may withdraw any amount from its Capital Account unless such withdrawal is made pursuant to this Agreement.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Withdrawals by Members. A Member may withdraw all or a portion of the Net Assets attributable to its Capital Account as of the last Business Day of each Month or at any other such time as determined by the Trading Manager in its sole discretion (a “Withdrawal Date”) upon at least 3 Business Days prior written notice to the Trading Manager (or as otherwise determined by the Trading Manager) provided, that, all liabilities, contingent or otherwise, of the Company (except any liability to Members on account of their Capital Contributions) shall have been paid, or there shall remain property of the Company sufficient to pay them. There shall be no penalty or fee assessed upon any such withdrawal, although the costs of effecting such withdrawal, as determined by the Trading Manager, may be assessed to the withdrawing Member. All withdrawals shall be paid in cash (U.S. dollars in immediately available funds) or made in-kind, in the sole discretion of the Trading Manager, as promptly as practicable after the Withdrawal Date. No interest shall accrue on any withdrawal proceeds while held by the Company pending payment out to the withdrawing Member. The Trading Manager may suspend withdrawals by the Members if the Trading Manager reasonably determines that (i) extraordinary circumstances exist, including the Company’s inability to liquidate any positions or any other significant administrative or other hardship exists, (ii) the effect of withdrawals would materially impair the Company’s ability to operate in pursuit of its objectives or (iii) the remaining Members would be unfairly and materially disadvantaged. The Trading Manager may, at any time, require any Member to redeem all or a portion of such Member’s Capital Account by giving not less than 5 days’ written notice to the Member or without notice in the case of certain events under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
Sample 1Sample 2Sample 3
Withdrawals by Members. Except as provided herein, no Member may withdraw any amount from the Company without the consent of all of the other Members, except upon dissolution of the Company.
Sample 1Sample 2Sample 3
Withdrawals by Members. Except as otherwise required by this Article VIII, no Member shall be required to withdraw from the Company. Except as otherwise permitted by this Article VIII, no Member shall have the right or power to voluntarily withdraw from the Company. Any attempted voluntary withdrawal by a Member shall be void ab initio and of no force or effect, and any Member who shall attempt to voluntarily withdraw shall be in intentional material breach of this Agreement. In any event, no Member who shall voluntarily withdraw shall be entitled to receive, in liquidation of its Interest, pursuant to the Act or otherwise, the fair value of the its Interest as of the date of any voluntary withdrawal. If a Member withdraws as a Member in accordance with Section 8.3, 8.4 or 8.5 below, the terms of Section 8.6 shall apply.
Sample 1Sample 2
Withdrawals by Members. Except as expressly provided in this Agreement, no Member (whether upon such Member ceasing to be a member of the Company or otherwise) shall have the right to withdraw any funds or other assets, or to receive any payments or distributions, from such Member’s Capital Account without the express prior written consent of the Manager.
Sample 1
Withdrawals by Members. 10 9.3 Distributions. . . . . . . . . . . . . . . . . . . . . . . . . 11 9.4 Members' Obligation To Repay Or Restore. . . . . . . . . . . . 11 TABLE OF CONTENTS (continued) Article X Protective Rights. . . . . . . . . . . . . . . . . . . . . . . 11 10.1 Approval By Members. . . . . . . . . . . . . . . . . . . . . . 11 10.2 Approval By Other Members. . . . . . . . . . . . . . . . . . . 12
Sample 1Sample 2
Withdrawals by Members. 10 9.3 Distributions. . . . . . . . . . . . . . . . . . . . . . . . . 11 9.4 Members' Obligation To Repay Or Restore. . . . . . . . . . . . 11
Sample 1
AutoNDA by SimpleDocs
Withdrawals by Members. Except as provided in this Agreement, no Member shall have the right to withdraw any funds or other assets from MRT or such Member's Capital Account without the prior written consent of the Managing Member(s).
Sample 1

Related to Withdrawals by Members

  • Transfers and Withdrawals 26 Section 11.1 Transfer......................................................... 26 Section 11.2 Limited Partners' Rights to Transfer............................. 26 Section 11.3

  • Permitted Withdrawals and Transfers from the Distribution Account (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the Servicing Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement):

  • Withdrawals Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.

  • In-Service Withdrawals If elected in the Adoption Agreement, an Employer may elect to permit a Participant in the Plan to make an in-service withdrawal, subject to any limitation(s) specified in the Adoption Agreement.

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

  • Permitted Withdrawals from the Custodial Account (a) The Master Servicer may, from time to time as provided herein, make withdrawals from the Custodial Account of amounts on deposit therein pursuant to Section 3.07 that are attributable to the Mortgage Loans for the following purposes:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!