Distribution Rules. (a) All distributions with respect to a Series pursuant to Section 12.8 shall be at such times and in such amounts as shall be determined by the Series Managers of such Series in their sole discretion; provided, however, that subject to Section 12.8 above, the Series Managers shall use their best efforts to cause the Company to distribute to the Members an amount of Cash Available for Distribution as shall be sufficient to enable Members to fund their federal and state income-tax liabilities attributable to their respective distributive shares of the taxable income of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)
Distribution Rules. (a) All distributions with respect to regarding a Series pursuant to under Section 12.8 9.04 shall be at such times and in such amounts as shall be determined by the Series Managers of Voting Members associated with such Series holding a Majority Interest in their sole discretionsuch Series; provided, however, that subject to Section 12.8 above, the Series Managers Voting Members shall use their best efforts to cause the Company to distribute to the Members an amount of Distributable Cash Available for Distribution as shall be sufficient to enable the Members to fund their federal and state income-tax liabilities attributable to their respective distributive shares of the taxable income of the Company.
Appears in 2 contracts
Samples: Series Limited Liability Company Operating Agreement, Series Limited Liability Company Operating Agreement
