Common use of Liability for Return of Capital Contributions Clause in Contracts

Liability for Return of Capital Contributions. Each Member, by execution of this Agreement, agrees that liability for the return of such Member’s Capital Contribution is limited to the Company’s assets and, in the event such assets are insufficient to return the amount of such Member’s Capital Contribution, hereby waives any and all claims whatsoever, including any claim for additional contributions that such Member might otherwise have, against the Company or any of its agents or representatives (in each case in the absence of conviction of fraud or willful misconduct and a judicial determination that such insufficiency was caused by such fraud or willful misconduct) by reason thereof. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company and such Member’s Capital Contribution thereto, and shall have no recourse therefor (upon dissolution or otherwise) against the Company or any of its agents or representatives.

Appears in 17 contracts

Samples: Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC)

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Liability for Return of Capital Contributions. Each Member, by execution of this Agreement, agrees that liability for the return of such Member’s Capital Contribution is limited to the Company’s assets and, in the event such assets are insufficient to return the amount of such Member’s Capital Contribution, hereby waives any and all claims whatsoever, including any claim for additional contributions that such Member might otherwise have, against the Company or any of its agents or representatives (in each case in the absence of conviction of fraud or willful misconduct and a judicial determination that such insufficiency was caused by such fraud or willful misconduct) by reason thereoftherefor. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company and such Member’s Capital Contribution thereto, and shall have no recourse therefor (upon dissolution or otherwise) against the Company or any of its agents or representatives.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC)

Liability for Return of Capital Contributions. Each Member, by execution of this Agreement, agrees that liability for the return of such Member’s 's Capital Contribution is limited to the Company’s 's assets and, in the event of an insufficiency of such assets are insufficient to return the amount of such Member’s 's Capital Contribution, hereby waives any and all claims whatsoever, including any claim for additional contributions that such Member might otherwise have, against the Company or any of its agents or representatives (in each case in the absence of conviction of fraud or willful misconduct and a judicial determination that such insufficiency was caused by such fraud or willful misconduct) by reason thereof. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company and such Member’s 's Capital Contribution thereto, and shall have no recourse therefor (upon dissolution or otherwise) against the Company or any of its agents or representatives.

Appears in 1 contract

Samples: Operating Agreement (Cedric Kushner Promotions Inc)

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Liability for Return of Capital Contributions. Each Member, by execution of this Agreement, Member agrees that liability for the return of such Member’s Capital Contribution Contributions is limited to the Company’s assets and, in the event that such assets are insufficient to return the amount of such Member’s Capital ContributionContributions, hereby waives any and all claims whatsoever, including any claim for additional contributions that such Member might otherwise have, against the Company or any of its agents or representatives (in each case in the absence of conviction of fraud or willful misconduct and a judicial determination that such insufficiency was caused by such fraud or willful misconduct) by reason thereof. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company and such Member’s Capital Contribution Contributions thereto, and shall have no recourse therefor (upon dissolution or otherwise) against the Company or any of its Members, the Managing Member, or their respective agents or representatives.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (2420 Lakemont Avenue MM, LLC)

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