Withdrawal or Return of Capital Contributions Sample Clauses

Withdrawal or Return of Capital Contributions. Except as specifically provided in this Agreement, no Interest Holder shall have the right to withdraw or reduce the Capital Contributions such Interest Holder makes to the Company. Upon dissolution of the Company or liquidation of such Interest Holder’s Shares, each Interest Holder shall look solely to the assets of the Company for return of such Interest Holder’s Capital Contributions and, if the Company's property remaining after the payment or discharge of the debts, obligations, and liabilities of the Company is insufficient to return the Capital contributions of each Interest Holder, no Interest Holder shall have any recourse against the Company, any Interest Holder, or Manager, except for gross negligence, malfeasance, bad faith, or fraud.
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Withdrawal or Return of Capital Contributions. No Member shall have the right to withdraw or receive any return of its Contribution to the capital of the Company without the consent of the Managers, except as otherwise provided in this Agreement. Under circumstances requiring the return of any Contribution from the capital of the Company, no Member shall have the right to receive particular property other than cash and, except as expressly provided in this Agreement, no Member shall have priority over any other Member with respect to a return of any Contribution.
Sample 1
Withdrawal or Return of Capital Contributions. Except as otherwise provided in this Agreement or required by law, (a) no Partner shall have the right to withdraw or reduce its Capital Contributions, or to demand and receive property other than property distributed by ASAC in accordance with the terms hereof in return for its Capital Contributions, (b) ASAC shall not return any Capital Contributions to any Partner (whether through distributions, redemption of Interests or otherwise) except (i) on a pro rata basis with all other Partners holding Preferred Interests or the applicable class of Common Interests, as the case may be, and in accordance with the order of priority set forth in Section 5.2 or (ii) as otherwise expressly contemplated by the terms of this Agreement (including Section 9.6), and (c) any return of Capital Contributions to the Partners shall be solely from ASAC assets, and no Partner shall be personally liable for any such return.
Sample 1
Withdrawal or Return of Capital Contributions. Except as otherwise provided in this Agreement or required by law, (a) no Partner shall have the right to withdraw or reduce its Capital Contributions, or to demand and receive property other than property distributed by ASAC in accordance with the terms hereof in return for its Capital Contributions, (b) ASAC shall not return any Capital Contributions to any Partner (whether through distributions, redemption of Interests or otherwise) except (i) on a pro rata basis with all other Partners holding Preferred Interests or the applicable class of Common Interests (including Post- Xxxxxxxxxxxx Xxxxxx Interests), as the case may be, and in accordance with the order of priority set forth in Section 5.2, (ii) with respect to GP Special Interests in accordance with Section 5.4 or (iii) as otherwise expressly contemplated by the terms of this Agreement (including Section 9.5), and (c) any return of Capital Contributions to the Partners shall be solely from ASAC assets, and no Partner shall be personally liable for any such return.
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Withdrawal or Return of Capital Contributions 
Sample 1

Related to Withdrawal or Return of Capital Contributions

  • Return of Capital Contributions No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.

  • Return of Capital Contribution From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

  • Status of Capital Contributions (a) No Member shall receive any interest, salary or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise specifically provided in this Agreement.

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • Return of Capital Except pursuant to the rights of Redemption set forth in Section 8.6, no Limited Partner shall be entitled to the withdrawal or return of his or her Capital Contribution, except to the extent of distributions made pursuant to this Agreement or upon termination of the Partnership as provided herein. No Limited Partner or Assignee shall have priority over any other Limited Partner or Assignee either as to the return of Capital Contributions, or as otherwise expressly provided in this Agreement, or as to profits, losses, distributions or credits.

  • Composition of Capital Accounts A separate capital account shall be maintained by the Partnership for each Partner in accordance with Section 704(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulations promulgated thereunder. There shall be credited to each Partner’s capital account (i) the amounts of money contributed by the Partner to the Partnership, (ii) the fair market value of property contributed by the Partner to the Partnership (net of liabilities secured by such contributed property that the Partnership is considered to assume or take subject to under Section 752 of the Code), and (iii) allocations to the Partner of Partnership income and gain (or items thereof), including income and gain exempt from tax, as computed for book purposes, in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. Each Partner’s capital account shall be decreased by (i) the amount of money distributed to the Partner by the Partnership, (ii) the fair market value of property distributed to the Partner by the Partnership (net of liabilities secured by such distributed property that such Partner is considered to assume or take subject to pursuant to Section 752 of the Code), (iii) allocations to such Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iv) allocations of Partnership loss and deduction (or items thereof), including loss or deduction, computed for book purposes, as described in Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. If the General Partner also acquires a Limited Partnership Interest in the Partnership, it shall nonetheless have a single capital account that reflects both its interest as a General Partner and its interest as a Limited Partner. If a Partner owns more than one Partnership Interest, such Partner shall nonetheless have a single capital account that reflects all Partnership Interests of such Partner.

  • Priority and Return of Capital No Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or Distributions. This Section shall not apply to loans (as distinguished from Capital Contributions), which a Member has made to the Company.

  • Transfer of Capital Accounts The original Capital Account established for each substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such substituted Member succeeds, at the time such substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the transfer of Shares. Any reference in this Agreement to a Capital Contribution of or distribution to a Member that has succeeded any other Member shall include any Capital Contributions or distributions previously made by or to the former Member on account of its Shares.

  • Capital Contributions Distributions 17 TABLE OF CONTENTS (continued)

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