Common use of LIABILITY FOR RETURN Clause in Contracts

LIABILITY FOR RETURN. A Member who receives a distribution in violation of Paragraph 6.7A and who knew at the time of the distribution that the distribution violated Paragraph 6.7A shall be liable to the Company for the amount of the distribution. A Member who receives a distribution in violation of Paragraph 6.7A and who did not know at the time of the distribution that the distribution violated Paragraph 6.7A shall not be liable for the amount of the distribution. Subject to Paragraph 6.7C, this Paragraph 6.7B shall not affect any obligation or liability of a Member under this Agreement or applicable law for the amount of a distribution.

LIABILITY FOR RETURN. A Member who receives a distribution in violation of Paragraph 6.7A 6.4A and who knew at the time of the distribution that the distribution violated Paragraph 6.7A 6.4A shall be liable to the Company for the amount of the distribution. A Member who receives a distribution in violation of Paragraph 6.7A 6.4A and who did not know at the time of the distribution that the distribution violated Paragraph 6.7A 6.4A shall not be liable for the amount of the distribution. Subject to Paragraph 6.7C6.4C, this Paragraph 6.7B 6.4B shall not affect any obligation or liability of a Member under this Agreement or applicable law for the amount of a distribution.