Other Distribution Rules. All distributions of property in kind shall be made as Available Cash under and in accordance with Section 6.4 and/or Section 8.3, as applicable. Property distributed in kind shall be unencumbered and, for purposes of determining Available Cash, shall be treated as cash in an amount equal to its In-Kind Value. Except as explicitly provided under this Agreement or as otherwise required under the LLC Act, no Member shall be entitled to distributions of property other than cash.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (INNOVATE Corp.), Limited Liability Company Agreement (Hc2 Holdings, Inc.)