Limitation on Distributions. Notwithstanding any other provision of this Agreement, neither the Company, nor the Administrative Member on behalf of the Company, shall make a distribution to a Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.
Appears in 5 contracts
Sources: Limited Liability Company Agreement (Emeritus Corp\wa\), Limited Liability Company Agreement, Agreement of Purchase and Sale
Limitation on Distributions. Notwithstanding any other provision of to the contrary contained in this Agreement, neither the Company, nor the Administrative Member on behalf of the Company, Company shall not make a distribution to a any Member on account of its interest in the Company if such distribution would violate Section 18-607 of the LLC Act or other applicable law.
Appears in 4 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement (Carlyle Group L.P.), Limited Liability Company Agreement (Carlyle Group L.P.)
Limitation on Distributions. Notwithstanding any other provision of to the contrary contained in this Agreement, neither the Company, nor the Administrative Member on behalf of the Company, Company shall not make a distribution to a the Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.
Appears in 3 contracts
Sources: Limited Liability Company Agreement (Ares Management Lp), Limited Liability Company Agreement (Ares Management Lp), Limited Liability Company Agreement (Ares Management Lp)
Limitation on Distributions. Notwithstanding any other provision of to the contrary contained in this Agreement, neither the Company, Company nor the Administrative Member Managing Member, on behalf of the Company, shall knowingly make a distribution to a any Member on account of its interest Membership Interests or Units in the Company if such distribution would violate Section 18-607 violation of the Act or other applicable lawAct.
Appears in 3 contracts
Sources: Limited Liability Company Agreement (RiverBanc Multifamily Investors, Inc.), Contribution Agreement (RiverBanc Multifamily Investors, Inc.), Limited Liability Company Agreement (RiverBanc Multifamily Investors, Inc.)
Limitation on Distributions. Notwithstanding any other provision of to the contrary contained in this Agreement, neither the Company, nor the Administrative Member on behalf of the Company, Company shall not make a distribution to a any Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Allegheny Energy Inc)
Limitation on Distributions. Notwithstanding any other provision of this Agreement, neither the Company, nor the Administrative Member on behalf of the Company, no distribution shall make a distribution be made to a Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Capital Pacific Holdings Inc)
Limitation on Distributions. Notwithstanding any other provision of this Agreement, neither the Company, Company nor the Administrative Member Manager acting on behalf of the Company, Company shall make a distribution to a Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Taylor Morrison Home Corp)