Common use of Source of Distributions Clause in Contracts

Source of Distributions. Each Member shall look solely to the assets of the Company for the return of its Capital Contributions and its share of distributions and shall have no recourse upon dissolution or otherwise against the Company, the Members or the Liquidator. No holder of an interest in the Company shall have any right to receive any distributions except as provided in this Agreement or any right to demand or receive property other than cash upon dissolution and termination of the Company.

Appears in 2 contracts

Samples: Operating Agreement (3100 Glendale Joint Venture), Operating Agreement (3100 Glendale Joint Venture)

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Source of Distributions. Each Member shall will look solely to the assets of the Company for the return of its Capital Contributions and its share of distributions Distributions of the Company and shall will have no recourse upon dissolution or otherwise against the Company, the Members Managers, the Liquidator or the Liquidatorany other Member. No holder of an interest in the Company shall will have any right to receive any distributions Distributions except as provided in this Agreement or any right to demand or receive property other than cash upon dissolution and termination of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Global Aircraft Solutions, Inc.), Limited Liability Company Agreement (Global Aircraft Solutions, Inc.)

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Source of Distributions. Each Member shall look solely to the assets of the Company for the return of its Capital Contributions and its share of distributions and shall have no recourse upon dissolution or otherwise against the Company, the Members or the Liquidator. No holder of an interest in the Company shall have any right to receive any distributions except as provided in to this Agreement or any right to demand or receive property other than cash upon dissolution and termination of the Company.

Appears in 1 contract

Samples: Operating Agreement (3100 Glendale Joint Venture)

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