Company Distributions definition
Examples of Company Distributions in a sentence
The Regulatory Allocations may result in allocations which are not consistent with the manner in which the Members intend to allocate Tax Book Profit and Tax Book Loss or make Company Distributions.
The Regulatory Allocations may not be consistent with the manner in which the Members intend to divide Company Distributions.
Next, to the Class A Members in reduction of their Unreturned Priority Capital with respect to their Class A Units, in proportion to and to the extent of each Class A Member’s Unreturned Priority Capital, provided, that except in the case of Distributions following the dissolution of the Company, Distributions under this Section 5.2.3 must be approved by the Board of Managers in accordance with Section 5.1.3.
In the event of the bankruptcy or incapacity of a Member, the Company shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company Distributions applicable to the Units of such bankrupt or incapacitated Member as provided herein.
The “Unreturned Capital Contribution” with respect to a Class B Unit or a Class C Unit shall equal the excess, if any, of the Capital Contributions made with respect to such Unit over the aggregate Distributions made with respect to such Unit pursuant to this Section 5.2.4. Except in the case of Distributions following the dissolution of the Company, Distributions under this Section 5.2.4 must be approved by the Board of Managers in accordance with Section 5.1.3.
All Company Distributions shall be made among the Members in proportion to their respective Units.
Next, to the Class B Members in accordance with their Percentage Interests, provided, that except in the case of Distributions following the dissolution of the Company, Distributions under this Section 5.2.5 must be approved by the Board of Managers in accordance with Section 5.1.3.
The Regulatory Allocations may not be consistent with the manner in which the Members intend to allocate Profits and Losses or to make Company Distributions.
Notwithstanding anything to the contrary stated herein, the Company's right to exercise any option provided in this Article VII shall be subject to the restrictions governing prohibited Company Distributions set forth in the Act and such other pertinent federal and state laws, rules, regulations or other governmental restrictions as may now or hereafter be in effect.
With respect to Earned Units and Vested Units, Executive shall be entitled to receive a share of (i) Company Distributions, as provided in Section 4.1(b) of the LLC Agreement, and (ii) any “liquidating distributions,” as provided in Section 10.3(c) of the LLC Agreement.