Excess Distributions. If, at the end of the Company's term and after the final liquidating distribution described in Section 6.2(a), a Member has received Excess Distributions, such Member (to the extent not offset against the amount distributable to such Member pursuant to the final liquidating distribution described in Section 6.2(a)) shall contribute cash to the Company in the amount equal to the Net Excess Distributions (the "Clawback Obligation"), which contributions shall, subject to the Act, be distributed to the Members in proportion to their respective Percentage Interests. The Manager shall use all reasonable efforts to enforce such Clawback Obligation on behalf of the Company.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Ambase Corp), Limited Liability Company Agreement (Ambase Corp)