Common use of Source of Distributions Clause in Contracts

Source of Distributions. Each holder of an Interest in the Company shall look solely to the assets of the Company for the return of its or his Capital Contribution and its or his share of Profits and Losses 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 demand or receive property other than cash upon dissolution and termination of the Company. All of the Company’s properties shall be sold upon liquidation of the Company and no Company property shall be distributed in kind to the Members either during the term of the Company or upon the dissolution and termination thereof unless in each case otherwise unanimously agreed by the Board of Directors.