Withdrawals or Loans. (a) A Member shall not be entitled to withdraw any part of such Member’s Capital Account or to receive any distributions from the Company except as provided in Articles IV and X, provided that OMAM shall be entitled to withdraw at any time any Segregated Client Mandated Amount then held by the Company with the consent of both the Board of Managers and the Executive Committee; nor shall a Member be entitled to make any loan or Capital Contribution to the Company other than as expressly provided herein or as otherwise agreed by the Board. No loan made to the Company by any Member shall constitute a Capital Contribution to the Company for any purpose.
Appears in 3 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (OM Asset Management PLC), Limited Liability Company Agreement (OM Asset Management LTD)
Withdrawals or Loans. (a) A Member shall not be entitled to (i) withdraw any part of such Member’s Capital Account or to receive any distributions from the Company except as provided in Articles IV III and X; provided, provided that OMAM shall be entitled to withdraw at any time any Segregated Client Mandated Amount then held by the Company with the consent of both the Board of Managers and a majority of the Executive Committee; nor shall a Member be entitled to KELP Managers, or (ii) make any loan or Capital Contribution to the Company other than as expressly provided herein or as otherwise agreed by the Board. No loan made to the Company by any Member shall constitute a Capital Contribution to the Company for any purpose.
Appears in 1 contract
Samples: Limited Liability Company Agreement (OM Asset Management PLC)
