Limitations Upon Distributions. No distribution shall be declared or made if, after giving effect to the distribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company, excluding liabilities to the Member on account of its Initial Capital Contribution and Additional Capital Contributions.
Appears in 9 contracts
Sources: Operating Agreement (Jacob Leinenkugel Brewing Co., LLC), Limited Liability Company Agreement (GA Industries Holdings, LLC), Company Agreement (GA Industries Holdings, LLC)
Limitations Upon Distributions. No distribution shall be declared or made if, after giving effect to the distribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company, excluding liabilities to the Member on account of its Initial Capital Contribution and Additional Capital Contributions.
Appears in 9 contracts
Sources: Limited Liability Company Agreement (Manitowoc FSG Operations, LLC), Operating Agreement (Manitowoc FSG Operations, LLC), Operating Agreement (Manitowoc FSG Operations, LLC)
Limitations Upon Distributions. No distribution Distribution shall be declared or made if, after giving effect to the distributionDistribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company. Except as otherwise may be permitted upon liquidation of the Company under Section 9.3 or as may be approved by Unanimous Vote, excluding liabilities the Company shall not make any Distribution to the Member on account of its Initial Capital Contribution and Additional Capital ContributionsMembers in property other than in cash.
Appears in 2 contracts
Sources: Operating Agreement, Limited Liability Company Operating Agreement
Limitations Upon Distributions. No distribution shall be declared or made if, after giving effect to t the distribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company, excluding liabilities to the Member on account of its Initial Capital Contribution and Additional Capital Contributions.
Appears in 1 contract
Sources: Operating Agreement
Limitations Upon Distributions. No distribution Distribution shall be declared or made if, after giving effect to the distributionDistribution, the Company would be unable to pay its debts as they become due in the usual course of business or if the fair market value of the total assets of the Company would be less than the sum of all liabilities of the Company, excluding liabilities to the Member on account of its Initial Capital Contribution and Additional Capital Contributions.the
Appears in 1 contract
Sources: Operating Agreement (Kti Inc)