Distributions of Cash Flow. From time to time, the Managing Member shall determine to what extent (if any) there exists sufficient Cash Flow, after taking into account such working capital, capital expenditures and debt service reserves as it deems necessary, to permit a distribution of Cash Flow to the Members. Any such distribution shall be made to the Members proportionately in accordance with their Membership Interests and shall be subject to Section 18-607 of the Act and other applicable law.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (World Omni Auto Leasing LLC), Limited Liability Company Agreement (World Omni Auto Receivables LLC), Limited Liability Company Agreement (World Omni Auto Receivables LLC)
Distributions of Cash Flow. From time to time, the Managing Member shall determine to what extent (if any) there exists sufficient Cash Flow, after taking into account such working capital, capital expenditures and debt service reserves as it deems necessary, to permit a distribution of Cash Flow to the Members. Any such distribution shall be made to the Members proportionately in accordance with their Membership Interests and Interests. Notwithstanding any other provisions of this Agreement, any distribution by the Company to a Member on account of its interest in the Company shall be subject to Section 18-607 of the Act and other applicable law.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (World Omni LT), Limited Liability Company Agreement (World Omni LT), Limited Liability Company Agreement (World Omni LT)
