Common use of Noncash Interim and Liquidating Distributions Clause in Contracts

Noncash Interim and Liquidating Distributions. The LLC shall make interim and liquidating distributions to the Members other than in cash only upon the vote of the Managers as prescribed in Section 5.4 below and only in accordance with the Members' Percentage Interests. In the event of a noncash distribution, the Agreed Value of the property to be distributed shall be adjusted and any resulting Profits or Losses shall be posted to the Capital Accounts as of the date the noncash distribution is made.

Noncash Interim and Liquidating Distributions. The LLC shall make noncash interim and liquidating distributions to the Members other than in cash only upon the vote decision of the Managers as prescribed in Section 5.4 below and only in accordance with Majority Member. As of the Members' Percentage Interests. In date of the event of a noncash distribution, the LLC shall adjust the Agreed Value of the property to be distributed and shall be adjusted and post any resulting Profits or Losses shall be posted to the Capital Accounts as of the date the noncash distribution is madeAccounts.