Return of Distributions Sample Clauses

Return of Distributions. In accordance with the Act and the laws of the State of Delaware, a Member may, under certain circumstances, be required to return amounts previously distributed to such Member. It is the intent of the Members that no distribution to any Member pursuant to ARTICLE IV shall be deemed a return of money or other property paid or distributed in violation of the Act. The payment of any such money or distribution of any such property to a Member shall be deemed to be a compromise within the meaning of Section 18-502(b) of the Act, and, to the fullest extent permitted by law, any Member receiving any such money or property shall not be required to return any such money or property to the Company or any other Person. However, if any court of competent jurisdiction holds that, notwithstanding the provisions of this Agreement, any Member is obligated to make any such payment, such obligation shall be the obligation of such Member and not of any other Member.
Return of Distributions. Members who receive distributions made in violation of the Act or this Agreement shall return such distributions to the Company. Except for those distributions made in violation of the Act or this Agreement, no Member shall be obligated to return any distribution to the Company or pay the amount of any distribution for the account of the Company or to any creditor of the Company. The amount of any distribution returned to the Company by a Member or paid by a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.
Return of Distributions. Any Member receiving a Distribution in violation of the terms of this Agreement shall return that Distribution (or cash equal to the net fair value of any property so distributed, determined as of the date of Distribution) promptly following the Member's receipt of a request to return the Distribution from the Manager or from any other Member. No third party will be entitled to rely on the obligations to return Distributions set forth in this Agreement or to demand that the Fund or any Member make any request for any return.
Return of Distributions. The Member will be obligated to return any distribution from the Company only to the extent, and during the period, such return is required by Section 18-607 of the Delaware Act.
Return of Distributions. Except for distributions made in violation of the Act or this Agreement, or as otherwise required or prohibited by Applicable Law, no Member shall be obligated to return any distribution to the Company or to pay the amount of any distribution for the account of the Company or to any creditor of the Company.
Return of Distributions. If the Partnership and/or the Cayman GP is obligated under section 11.3 (general partner clawback) of the Fund Agreement to contribute to the Fund all or a portion of the distributions received by the Partnership from the Fund and/or from the Cayman GP, the Partners shall be required to fund, and hereby agree to fund, such obligation in proportion to and up to an amount not to exceed, in the case of each Partner, the aggregate distributions received by such Partner pursuant to Section 6.3(b)(ii) (not including distributions made (or that could have been made) pursuant to Section 6.4 that are deemed (or would have been deemed) to be distributions under Section 6.3(b)(ii)). Subject to the preceding sentence of this Section 6.12, if the Partnership and/or the Cayman GP is obligated under section 9.2 (limited partner clawback) of the Fund Agreement to contribute to the Fund all or a portion of the distributions received by the Partnership from the Fund and/or from the Cayman GP, the Partners shall be required to fund such obligation in proportion to and up to an amount not to exceed, in the case of each Partner, the aggregate distributions received by such Partner pursuant to Section 6.3. Each such Partner shall make contributions to the Partnership in satisfaction of such obligation. A Partner’s obligation to make contributions to the Partnership under this Section 6.12 shall survive the dissolution, liquidation, winding up and termination of the Partnership, and for purposes of this Section 6.12, the Partnership may pursue and enforce all rights and remedies that it may have against each Partner under this Section 6.12, including instituting a lawsuit to collect such contribution with interest from the date that such contribution was required to be paid under this Section 6.12 calculated at a rate equal to the Prime Rate plus 2% per annum (but not in excess of the highest rate per annum permitted by law.
Return of Distributions. A Member who receives a distribution in violation of SECTION 6.7, and who knew at the time of the distribution that the distribution violated SECTION 6.7, shall be liable to the Company for the amount of the distribution. A Member who receives a distribution in violation of SECTION 6.7, and who did not know at the time of the distribution that the distribution violated SECTION 6.7, shall not be liable for the amount of the distribution. A Member who receives a distribution shall have no liability for the amount of the distribution after the expiration of three (3) years from the date of the distribution unless an action to recover the distribution from such Member is commenced prior to the expiration of said three (3)-year period and an adjudication of liability against such Member is made in the said action.
Return of Distributions. Except for distributions made in violation of the Act (and then only to the extent required by the Act), or other applicable laws, or this Agreement, no Partner shall be obligated to return any distribution to the Partnership or pay the amount of any distribution for the account of the Partnership or to any creditor of the Partnership. The amount of any distribution returned to the Partnership by a Partner or paid by a Partner for the account of the Partnership or to a creditor of the Partnership shall be credited back to the applicable Partner’s Capital Contributions and added to the Capital Account from which it was subtracted when it was distributed to such Partner; provided, however, that the foregoing shall not apply to the amount of any interest on a Contribution Loan paid to an Electing Partner by another Partner on behalf of the Partnership.