Common use of Withholding of Distributions Clause in Contracts

Withholding of Distributions. Notwithstanding any other provision of this Agreement, a Voting Member Majority (or any Person required or authorized by law to wind up the Company's affairs) may suspend, reduce or otherwise restrict Distributions of Liquidation Proceeds or Additional Distributions for such time as a Voting Member Majority deems appropriate.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P)

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Withholding of Distributions. Notwithstanding any other provision of this Agreement, a the Voting Member Majority Members (or any Person required or authorized by law to wind up the Company's ’s affairs) may suspend, reduce or otherwise restrict Distributions when the Voting Members deem such action is in the best interests of Liquidation Proceeds or Additional Distributions for such time as a Voting Member Majority deems appropriatethe Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Inergy Holdings LLC)

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