Common use of Withholding of Distributions Clause in Contracts

Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member (or any Person required or authorized by law to wind up the Company’s affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s sole opinion, such action is in the best interests of the Company.

Appears in 17 contracts

Samples: Limited Liability Company Agreement (E. Marcellus Asset Company, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC)

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Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member (or any Person required or authorized by law to wind up the Company’s 's affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s 's sole opinion, such action is in the best interests of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (QualityTech, LP), Limited Liability Company Agreement (QualityTech, LP)

Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member Manager (or any Person required or authorized by law to wind up the Company’s 's affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s sole its reasonable opinion, such action is in the best interests of the CompanyCompany but in no event shall the Manager withhold Tax Payment Distributions required under Section 4.1(b).

Appears in 1 contract

Samples: Members Agreement (Optigenex Inc.)

Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member Members (or any Person required or authorized by law to wind up the Company’s 's affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in when the Member’s sole opinion, Members deem such action is in the best interests of the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cenex Harvest States Cooperatives)

Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member Representative (or any Person required or authorized by law to wind up the Company’s affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s its sole opinion, such action is in the best interests of the Company.

Appears in 1 contract

Samples: Operating Agreement (Inergy Pipeline East, LLC)

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Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member Board of Directors (or any Person required or authorized by law to wind up the Company’s 's affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s its sole opinion, such action is in the best interests of the Company.

Appears in 1 contract

Samples: Operating Agreement (Tortoise Total Return Fund, LLC)

Withholding of Distributions. Notwithstanding any other provision of this Agreement, the Member Managers (or any Person required or authorized by law to wind up the Company’s affairs) may suspend, reduce or otherwise restrict Distributions of Available Cash and Liquidation Proceeds when, in the Member’s their sole opinion, such action is in the best interests of the Company.

Appears in 1 contract

Samples: Operating Agreement

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