Enforcement of Obligation. Only the Company, the Managers or a Member and no third party creditor (either in its own right or as a successor-in-interest of the Company, and including a trustee, receiver or other representative of the Company or an Owner), shall be entitled to enforce the requirements to make additional Capital Contributions. The Members intend and agree that the obligation of a Member to make Capital Contributions constitutes an agreement to make financial accommodations to and for the benefit of the other Member and the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Enforcement of Obligation. Only the Company, the Managers Company or a Member and no third party creditor (either in its own right or as a successor-in-interest of the Company, and including a trustee, receiver or other representative of the Company or an Owner), shall be entitled to enforce the requirements to make additional Capital Contributions. The Members intend and agree that the obligation of a Member to make Capital Contributions constitutes an agreement to make financial accommodations to and for the benefit of the other Member and the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.), Joint Venture Agreement (Cottonwood Multifamily Reit Ii, Inc.), Joint Venture Agreement (Cottonwood Multifamily Reit I, Inc.)
Enforcement of Obligation. Only the Company, Company or the Managers or Manager (other than a Member in its capacity as debtor-in-possession) and no third party creditor (either in its own right or as a successor-in-interest of the Company, and including a trustee, receiver or other representative of the Company or an Ownera Member), shall be entitled to enforce the requirements to make additional Capital Contributions. The Members intend and agree that the obligation of a Member to make Capital Contributions constitutes an agreement to make financial accommodations to and for the benefit of the other Member Members and the Company.
Appears in 2 contracts
Samples: Operating Agreement (Ridgewood Properties Inc), Operating Agreement (Ridgewood Properties Inc)
Enforcement of Obligation. Only the Company, the Managers or a Member and no third party creditor (either in its own right or as a successor-in-interest of the Company, and including a trustee, receiver or other representative of the Company or an Owner), shall be entitled to enforce the requirements to make additional Capital Contributions. The Members intend and agree that the obligation of a Member to make Capital Contributions constitutes an agreement to make financial accommodations to and for the benefit of the other Member Members and the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Opportunity Fund, Inc.)
