Common use of Indebtedness of Company Clause in Contracts

Indebtedness of Company. Any Disposition of all or any portion of the Membership Interest of a Member shall also include the Disposition of a proportionate share of the Indebtedness owed by the Company to the Disposing Member. As long as this Agreement shall remain in effect, all evidences of Indebtedness of the Company owed to any of the Members shall bear an appropriate legend to indicate that it is held subject to, and may be Disposed only in accordance with, the terms and conditions of this Agreement, and that such Disposition may be made only in conjunction with the Disposition of a proportionate part of such Member’s Membership Interest.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (RGC Resources Inc), Limited Liability Company Agreement (EQT Corp), Limited Liability Company Agreement (EQT Midstream Partners, LP)

AutoNDA by SimpleDocs

Indebtedness of Company. Any Disposition of all or any portion of the a Membership Interest of a Member shall also include the Disposition of a proportionate share all of the Indebtedness owed by the Company to the Disposing MemberMember (or, if only a portion of a Membership Interest is being Disposed, a proportionate share of such Indebtedness). As long as this Agreement shall remain in effect, all evidences of Indebtedness of the Company owed to any of the Members shall bear an appropriate legend to indicate that it is held subject to, and may be Disposed only in accordance with, the terms and conditions of this Agreement, and that such Disposition may be made only in conjunction with the Disposition of a proportionate part of such Member’s Membership Interest.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Spectra Energy Partners, LP), Limited Liability Company Agreement (Duke Energy Corp)

AutoNDA by SimpleDocs

Indebtedness of Company. Any Disposition of all or any portion of the a Membership Interest of a Member shall also include the Disposition of a proportionate share all of the Indebtedness owed by the Company to the Disposing MemberMember (or, if only a portion of a Membership Interest is being Disposed, a proportionate share of such Indebtedness). As long as this Agreement shall remain in effect, all evidences each evidence of Indebtedness of the Company owed to any of the Members shall bear an appropriate legend to indicate that it is held subject to, and may be Disposed only in accordance with, the terms and conditions of this Agreement, and that such Disposition may be made only in conjunction with the Disposition of a proportionate part of such Member’s Membership InterestInterest pursuant to the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Piedmont Natural Gas Co Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.