Common use of CAPITAL LIMITS Clause in Contracts

CAPITAL LIMITS. Except as expressly provided in this Agreement, no Member shall be required to contribute any capital other than the contributions specifically required by the provisions of Article IV hereof, nor shall any Member be required to loan any funds to the Company. A negative or deficit balance in any Member's Capital Account shall not be deemed to be an asset of the Company and no Member with a negative or deficit balance in its Capital Account shall have any obligation to the Company, any other Member, or any third party or creditor to restore any negative or deficit balance in its Capital Account (upon liquidation or dissolution of the Company or otherwise), except to the extent expressly provided for in this Agreement. Other than as set forth in Section 10.02(b) hereof, no Member shall be liable for the return of the Capital Contributions, Capital Account or any portion thereof, of any other Member, it being expressly understood and agreed that such return shall be made solely from the assets of the Company and only in accordance with the provisions of this Agreement. No Member shall be entitled to withdraw or receive a return of any portion of its Capital Contributions or Capital Account, to receive interest on its Capital Contributions or Capital Account or to receive any distributions from the Company, except as expressly provided for in this Agreement or under applicable law. No Member shall be entitled to demand property other than cash in return for its Capital Contributions to the Company, its Capital Account, or its Interests in the Company. For purposes of this Section 3.02, the term "Capital Account" shall be deemed to also include the capital account of any Member for financial or book purposes or as set forth in the Nevada Act or under common law.

CAPITAL LIMITS. Except as expressly provided in this Agreement, no Member shall be required to contribute any capital other than the contributions specifically required by the provisions of Article IV hereofcapital, nor shall any Member be required to loan any funds to the Company. Voting Members will not have Capital Accounts. A negative or deficit balance in any Equity Member's Capital Account shall not be deemed to be an asset of the Company and no Equity Member with a negative or deficit balance in its Capital Account shall have any obligation to the Company, any other Member, or any third party or creditor to restore any negative or deficit balance in its Capital Account (upon liquidation or dissolution of the Company or otherwise), except to the extent expressly provided for in this Agreement. Other than as set forth in Section 10.02(b) hereof, no Member shall be liable for the return of the Capital Contributions, Contributions or the Capital Account or any portion thereof, of any other Member, it being expressly understood and agreed that such return shall be made solely from the assets of the Company and only in accordance with the provisions of this Agreement. No Member shall be entitled to withdraw or receive a return of any portion of its Capital Contributions or Capital Account, to receive interest on its Capital Contributions or Capital Account or to receive any distributions from the Company, except as expressly provided for in this Agreement or under applicable law. No Member shall be entitled to demand or receive property other than cash in return for its Capital Contributions to the Company, its Capital Account, or its Interests in the Company. For purposes of this Section 3.023.03, the term "Capital Account" shall be deemed to also include the capital account of any Equity Member for financial or book purposes or as set forth in Chapter 86 of the Nevada Act NRS or under common law.