Distribution Limitations. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Members on account of their interests in the Company if such distribution would violate the Act or any other applicable law or would constitute a default under any Basic Document.
Appears in 11 contracts
Sources: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Distribution Limitations. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Members any Member on account of their interests in the Company its Shares of Common Stock if such distribution would violate the Act or any other applicable law or would constitute breach any contract or agreement to which the Company is a default under any Basic Documentparty.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Instinet Group LLC), Operating Agreement
Distribution Limitations. Notwithstanding any provision to the contrary contained in this AgreementAgreement , the Company shall not be required to make a distribution to the Members on account of their interests in the Company if such distribution would violate the Act or any other applicable law or would constitute a default under any Basic Document.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Distribution Limitations. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Members any Member on account of their interests in the Company its Shares if such distribution would violate the Act or any other applicable law or would constitute breach any contract or agreement to which the Company or any of the Subsidiaries is a default under party or could reasonably be expected to cause the Company or any Basic DocumentSubsidiary to fail to meet the Capital Rules.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Archipelago Holdings L L C)