Common use of Units Membership Clause in Contracts

Units Membership. 6- 3.1 Units Generally; Membership Interests ......................... -6- 3.2 Authorization and Issuance of Units ........................... -6- 3.3 Unit Certificates ............................................. -7- 3.4 Issuance of Units ............................................. -7- 3.5 New Members from the Issuance of Units ........................ -7- ARTICLE 4 CAPITAL CONTRIBUTIONS AND CAPITAL ACCOUNTS ............................ -8- 4.1 Capital Contributions ......................................... -8- 4.2 Capital Accounts .............................................. -8- 4.3 Negative Capital Accounts ..................................... -9- 4.4 No Withdrawal ................................................. -10- 4.5 Loans From Members ............................................ -10- 4.6 Status of Capital Contributions ............................... -10- ARTICLE 5 ALLOCATIONS OF PROFITS AND LOSSES ..................................... -10- 5.1 Allocation of Profits and Losses .............................. -10- 5.2 Regulatory and Special Allocations ............................ -10- 5.3 Curative Allocations .......................................... -11- 5.4 Tax Allocations ............................................... -12-

Appears in 1 contract

Sources: Limited Liability Company Agreement (Business Sound Inc)

Units Membership. 6- 3.1 Units Generally; Membership Interests ......................... Interests............................ -6- 3.2 Authorization and Issuance of Units ........................... Units.............................. -6- 3.3 Unit Certificates ............................................. Certificates................................................ -7- 3.4 Issuance of Units ............................................. Units................................................ -7- 3.5 New Members from the Issuance of Units ........................ Units........................... -7- ARTICLE 4 CAPITAL CONTRIBUTIONS AND CAPITAL ACCOUNTS ............................ ACCOUNTS............................. -8- 4.1 Capital Contributions ......................................... Contributions............................................ -8- 4.2 Capital Accounts .............................................. Accounts................................................. -8- 4.3 Negative Capital Accounts ..................................... Accounts........................................ -9- 4.4 No Withdrawal ................................................. Withdrawal.................................................... -10- 4.5 Loans From Members ............................................ Members............................................... -10- 4.6 Status of Capital Contributions ............................... Contributions.................................. -10- ARTICLE 5 ALLOCATIONS OF PROFITS AND LOSSES ..................................... -10- 5.1 Allocation of Profits and Losses .............................. -10- 5.2 Regulatory and Special Allocations ............................ -10- 5.3 Curative Allocations .......................................... -11- 5.4 Tax Allocations ............................................... -12-5

Appears in 1 contract

Sources: Limited Liability Company Agreement (Muzak Finance Corp)