Withholding from Distributions to the Company. In the event that the Company receives a distribution from or in respect of which tax has been withheld, the Company shall be deemed to have received cash in an amount equal to the amount of such withheld tax, and each Member shall be deemed to have received as a distribution of Distributable Cash pursuant to the relevant clause of Section 5.06 the portion of such amount that is attributable to such Member’s Membership Interest as equitably determined by the Management Committee.
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Withholding from Distributions to the Company. In the event that the Company receives a distribution from or in respect of which tax has been withheld, the Company shall be deemed to have received cash in an amount equal to the amount of such withheld tax, and each Member shall be deemed to have received as a distribution of Distributable Cash pursuant to the relevant clause of Section 5.06 5.1 the portion of such amount that is attributable to such Member’s Membership Interest as equitably determined by the Management CommitteeManaging Member.
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Samples: Limited Liability Company Agreement (Public Media Works Inc)
Withholding from Distributions to the Company. In the event that the Company receives a distribution from or in respect of which tax has been withheld, the Company shall be deemed to have received cash in an amount equal to the amount of such withheld tax, and each Member shall be deemed to have received as a distribution of Distributable Cash pursuant to the relevant clause of Section 5.06 6.1 the portion of such amount that is attributable to such Member’s 's Membership Interest as equitably determined by the Management Committee.
Appears in 1 contract
Withholding from Distributions to the Company. In the event that the Company receives a distribution from or in respect of which tax has been withheld, the Company shall be deemed to have received cash in an amount equal to the amount of such withheld tax, and each Member shall be deemed to have received as a distribution of Distributable Cash pursuant to the relevant clause of Section 5.06 5.1 the portion of such amount that is attributable to such Member’s Membership Interest as equitably determined by the Management CommitteeBoard of Managers.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Hydron Technologies Inc)