Common use of Limitations on Distributions Clause in Contracts

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account of its Shares if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (Cott Holdings Inc.), Limited Liability Company Agreement (Cott Holdings Inc.), Limited Liability Company Agreement (Cott Holdings Inc.)

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Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (Delek Logistics Partners, LP), Limited Liability Company Agreement, Limited Liability Company Agreement (Delek Logistics Partners, LP)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution Distribution to any Shareholder Member on account of its Shares Interest if such distribution the Distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 6 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (Freeport Holdings Series LLC)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares Membership Interest if such distribution would violate Section 18-607 of the Act or other applicable lawApplicable Law.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Cypress Energy Partners, L.P.), Limited Liability Company Agreement (Marlin Midstream Partners, LP), Limited Liability Company Agreement

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account of its Shares if a Member to the extent that such distribution would violate is not permitted under the Act. A Member who receives a distribution that is not permitted under the terms of Section 18-607 of the Act shall have no liability under the Act or other applicable lawthis Agreement to return the distribution unless the Member knew that the distribution violated the terms of such Section.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Energy Transfer Partners, L.P.), Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Limited Liability Company Agreement (Energy Transfer Partners, L.P.)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder a Member or Unitholder on account of its Shares Units if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Valeritas Inc), Limited Liability Company Agreement (Valeritas Inc), Limited Liability Company Agreement (Valeritas Inc)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Williams Energy Partners L P), Limited Liability Company Agreement (Williams Energy Partners L P), Limited Liability Company Agreement (Williams Energy Partners L P)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account of its Shares Member with respect to such Member’s Interest if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 3 contracts

Samples: Operating Agreement (Columbia Equity Trust, Inc.), Operating Agreement (Columbia Equity Trust, Inc.), Operating Agreement (Columbia Equity Trust, Inc.)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder holder of Interests on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to any Shareholder a Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or any other applicable law.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Foursquare Capital Corp), Limited Liability Company Agreement (Plymouth Industrial REIT Inc.), Limited Liability Company Agreement (Maui Land & Pineapple Co Inc)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares Membership Interest if such distribution would violate Section 18-607 of the Act or other applicable lawApplicable Law.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Emerge Energy Services LP), Limited Liability Company Agreement (Emerge Energy Services LP), Limited Liability Company Agreement

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Person on account of its Shares if such distribution would violate his Percentage Interest in violation of Section 18-607 of the Act Act, or other applicable lawif such distribution would be in violation of or inconsistent with any loan documents relating to any indebtedness of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Wise Metals Group LLC), Limited Liability Company Agreement (Listerhill Total Maintenance Center LLC)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Unitholder on account of its Shares Units if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Cott Retail Brands LTD), Limited Liability Company Agreement (Cooke Bros Holdings LTD)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable lawApplicable Law or any agreement in relation to the incurrence or assumption of Indebtedness by the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (MEADWESTVACO Corp), Limited Liability Company Agreement (Plum Creek Timber Co Inc)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable lawlaw or any agreement in relation to the incurrence or assumption of Indebtedness by the Company.

Appears in 2 contracts

Samples: Operating Agreement (Watsco Inc), Operating Agreement (Watsco Inc)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Holder on account of its Shares any Unit in the Company if such distribution would violate Section 18-607 of (i) the Act or other applicable lawlaw or (ii) the Credit Agreement.

Appears in 2 contracts

Samples: Registration Rights Agreement (DFB Healthcare Acquisitions Corp.), Limited Liability Company Agreement (AdaptHealth Corp.)

Limitations on Distributions. (a) Notwithstanding any provision provisions herein to the contrary contained in this Agreementcontrary, the Company shall not make a distribution to any Shareholder on account of its Shares Member if such distribution would violate Section 18-607 of the Act or other applicable lawAct.

Appears in 2 contracts

Samples: Operating Agreement (Constellation Energy Group Inc), Operating Agreement (Constellation Energy Group Inc)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a any distribution to any Shareholder on account of its Shares a Member if such distribution would violate Section 18-607 or Section 18-804 of the Act or other applicable lawAct.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Fintech Investor Holdings, LLC), www.nybusinessdivorce.com

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Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder the Sole Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable lawApplicable Law.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (MorningStar Partners, L.P.), Limited Liability Company Agreement (TXO Energy Partners, L.P.)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account Member in respect of its Shares such Member’s Membership of Interests if (a) such distribution would violate Section 18-607 of the Act or other applicable law; (b) to the extent prohibited by any financing agreement with any lender to the Company, or (c) which would render the Company insolvent.

Appears in 1 contract

Samples: Subscription Agreement

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.any Applicable Law. Exhibit 3.1

Appears in 1 contract

Samples: Limited Liability Company Agreement (American Midstream Partners, LP)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall may not make a distribution to the Member on any Shareholder on account of its Shares Membership Interest if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares Units if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Primo Water Corp)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution Distribution to any Shareholder Member on account of its Shares Interests if such distribution Distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Building Products, LLC)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account of its Shares Member with respect to such Members Interest if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 1 contract

Samples: Operating Agreement (Columbia Equity Trust, Inc.)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account Member in respect of its Shares such Member’s ownership of Units if such distribution would violate Section 18-607 of the Act or other applicable law.

Appears in 1 contract

Samples: Operating Agreement (Norhart Invest LLC)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder Member on account of its Shares interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.Applicable Law. MANAGEMENT

Appears in 1 contract

Samples: Limited Liability Company Agreement (Magellan Midstream Partners Lp)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder the Members on account of its Shares their interest in the Company if such distribution would violate Section 18-607 of the Act or any other applicable law.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Invesco Real Estate Income Trust Inc.)

Limitations on Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Shareholder on account of its Shares if a Member to the extent that such distribution would violate Section is not permitted under the Act. A Member who receives a distribution that is not permitted under the terms of section 18-607 of the Act shall have no liability under the Act or other applicable lawthis Agreement to return the distribution unless the Member knew that the distribution violated the terms of such section.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Quest Resource Corp)

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