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Common use of Distribution Upon Withdrawal Clause in Contracts

Distribution Upon Withdrawal. No Member shall be entitled to any distribution or payment with respect to its Membership Units upon the resignation or withdrawal of such Member.

Appears in 15 contracts

Sources: Limited Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC)

Parent Clauses

  • Distributions
  • Definitions
  • Other Allocation Rules
  • Intent
  • Capital Contributions Capital Accounts and Allocations and Distributions

Sub-Clauses

  • The Managing Member; Fiduciary Duties
  • Warranted Reliance by Officers on Others
  • Officers
  • Indemnification; Exculpation
  • Maintenance of Insurance or Other Financial Arrangements
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