Priority and Return of Capital. Except as may be expressly provided in Article 7, no Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or distributions.
Appears in 3 contracts
Samples: Operating Agreement (Strategic Timber Trust Inc), Operating Agreement (Strategic Timber Trust Inc), Operating Agreement (Strategic Timber Trust Inc)
Priority and Return of Capital. Except as may be expressly provided in Article 7VII, no Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or distributions; provided that this Section 9.05 shall not apply to loans (as distinguished from Capital Contributions) which a Member has made to the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Student Loan Funding LLC)
Priority and Return of Capital. Except as may be expressly provided in Article 7VII, no Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or distributions; provided that this Section 10.05 shall not apply to loans (as distinguished from Capital Contributions) which a Member has made to the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Student Loan Funding LLC)
