Reserves Against Distributions. The Board shall have the right to withhold from Distributions payable to any Unitholder under this Agreement amounts sufficient to pay and discharge any reasonably anticipated contingent liabilities of the LLC. Any amounts remaining after payment and discharge of any such contingent liabilities of the LLC will be paid to the Unitholders from whom the Distributions were withheld.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Providence Service Corp), Limited Liability Company Agreement (Emmis Communications Corp), Limited Liability Company Agreement (Emmis Communications Corp)
Reserves Against Distributions. The Board shall have the right to withhold from Distributions payable to any Unitholder under this Agreement amounts sufficient to pay and discharge any reasonably anticipated contingent liabilities of the LLCCompany. Any amounts remaining after payment and discharge of any such contingent liabilities of the LLC Company will be paid to the Unitholders from whom the Distributions were withheld.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (VWR Funding, Inc.), Limited Liability Company Agreement (VWR, Inc.)
Reserves Against Distributions. The Board shall have the right to withhold from Distributions payable to any Unitholder under this Operating Agreement (other than Tax Distributions) amounts sufficient to pay and discharge any reasonably anticipated contingent liabilities of the LLCCompany. Any amounts remaining after payment and discharge of any such contingent liabilities of the LLC Company will be paid to the Unitholders from whom the Distributions were withheld.
Appears in 1 contract
Samples: Operating Agreement (Metaldyne Corp)
