Complete Distribution. The distribution of cash or property to a Member in accordance with the provisions of this Section 10.2 constitutes a complete return to the Member of its Capital Contributions and a complete distribution to the Member of its Membership Interest and all the Company's property and constitutes a compromise to which all Members have consented pursuant to Section 18-502(b) of the Act. To the extent that a Member returns funds to the Company, it has no claim against any other Member for those funds.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Energy Conversion Devices Inc)
Complete Distribution. The distribution of cash or property to a the Member in accordance with the provisions of this Section 10.2 constitutes 7.2 shall constitute a complete return to the Member of its Capital Contributions and a complete distribution to the Member of its Membership Interest interest in the Company and all the Company's property and constitutes a compromise to which all Members have consented pursuant to Section 18-502(b) of the Act. To the extent that a Member returns funds to the Company, it has no claim against any other Member for those funds’s property.
Appears in 1 contract
Sources: Operating Agreement (Unistrut International Holdings, LLC)