Certain Distributions Prohibited. Anything in this Article VIII to the contrary notwithstanding, all Company distributions shall be subject to the following limitations: (i) No distribution shall be made to any Member if, and to the extent that, such distribution would not be permitted under the LLC Act. (ii) No distribution other than a Tax Distribution shall be made to any Member to the extent that such distribution, if made, would cause the deficit balance, if any, in the Capital Account of such Member (determined without regard to any allocations made pursuant to Section 7.4(c)) to exceed such Member's Restoration Amount.
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Sources: Limited Liability Company Agreement (Conning Corp), Limited Liability Company Agreement (Conning Corp)
Certain Distributions Prohibited. Anything in this Article VIII to the contrary notwithstanding, all Company distributions shall be subject to the following limitations:
(i) No distribution shall be made to any Member if, and to the extent that, such distribution would not be permitted under the LLC Act.
(ii) No distribution other than a Tax Distribution shall be made to any Member to the extent that such distribution, if made, would cause the deficit balance, if any, in the Capital Account of such Member (determined without regard to any allocations made pursuant to Section 7.4(c)) to exceed such Member's Restoration Amount.the
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