Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.
Appears in 33 contracts
Samples: Operating Agreement (Wynn Las Vegas LLC), Operating Agreement (Williams Electronic Games, Inc.), Operating Agreement (Williams Electronic Games, Inc.)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS Act or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.
Appears in 23 contracts
Samples: Operating Agreement (Areh MLK LLC), Limited Liability Company Agreement (Ace Gaming LLC), Limited Liability Company Agreement (Ace Gaming LLC)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.. ARTICLE VI
Appears in 4 contracts
Samples: Operating Agreement (World Travel LLC), World Travel LLC, World Travel LLC
Limitations on Distribution. Notwithstanding any other provision to the contrary contained in of this Agreement, the Company shall not make any distribution Distribution if such distribution Distribution would violate the NRS NRS, the Nevada Act or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it the Company or any of its assets are bound, but shall instead shall make such distribution Distribution as soon as practicable such that after the making of such distribution Distribution would not cause such violation, breach or default.
Appears in 3 contracts
Samples: Operating Agreement (Aladdin Capital Corp), Operating Agreement (Aladdin Gaming Enterprises Inc), Operating Agreement (Aladdin Gaming Holding LLC)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution Distribution if such distribution Distribution would violate the NRS LLC Law or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are boundlaw, but shall instead shall make such distribution Distribution as soon as practicable such that after the making of such distribution Distribution would not cause such violation, breach or default.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Norfolk Southern Corp), Limited Liability Company Agreement (Norfolk Southern Corp)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any distribution Member if such distribution would violate the NRS or other applicable law or would cause a breach or default under the terms of any agreement or instrument to which indebtedness of the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or defaultCompany.
Appears in 2 contracts
Samples: Operating Agreement (Flyexclusive Inc.), Operating Agreement (EG Acquisition Corp.)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such the distribution would violate the NRS C.R.S. or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound. Instead, but instead the Company shall make such the distribution as soon as practicable practicable, such that the making of such the distribution would will not cause such the violation, breach or defaultdefault referred to above.
Appears in 2 contracts
Samples: Operating Agreement (Majestic Investor Capital Corp), Operating Agreement (Majestic Star Casino LLC)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party party, or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.
Appears in 1 contract
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.
Appears in 1 contract
Samples: Operating Agreement (New Gaming Capital Partnership)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution (including distributions in kind) to any distribution Member on account of its Interest in the Company if such distribution would violate the NRS solvency standards under the Act or other applicable law insolvency or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or defaultfraudulent conveyance laws.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Circle Entertainment, Inc.)
Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution if such distribution would violate the NRS GCL or the Act or other applicable law or would cause a breach or default under any agreement or instrument to which the Company is a party or by which it or its assets are bound, but instead shall make such distribution as soon as practicable such that the making of such distribution would not cause such violation, breach or default.
Appears in 1 contract
