Liability for Company Debt Clause Samples
Liability for Company Debt. Except as expressly set forth in this Agreement or required by law, a Member shall not be personally liable for any debt, obligation or liability of the Company, whether arising in contract, tort or otherwise, solely by reason of being a Member of the Company.
Liability for Company Debt. Unless a Member otherwise agrees in writing, no Member will be personally liable for any debts or losses of the Company beyond such Member's respective capital contributions, except as otherwise required by law.
Liability for Company Debt. The Member shall not be personally liable for any debts, obligations or losses of the Company beyond its capital contributions to the Company and the undistributed profits.
Liability for Company Debt. No Member will be personally liable for any debts, losses or obligations of the Company by reason of its being a Member, except to the extent of its Capital Contribution and any obligation to make a Capital Contribution. {Additional provision if all or certain Members will guarantee certain Company obligations:} {Notwithstanding anything contained herein to the contrary, {to the extent required by any lender to the Company,} {each Member} {identify Members} shall personally guarantee its share, based on such Members’ relative {Capital} {Percentage} Interests, of the Company’s obligations under or arising from {specify one or more debts or obligations} in such form as may reasonably be requested by the {lender or obligee}.}
Liability for Company Debt. No Member shall be personally liable for any debts, losses, or obligations of the Company by reason of being a Member.