Liability of a Member to the Company. A Member that rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Act. A Member that receives a Distribution made by the Company in violation of this Agreement or made when the Company’s liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.
Liability of a Member to the Company. A Member who receives a distribution from the Company is liable to the Company only to the extent provided by the Act.
Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.
Liability of a Member to the Company. A Member who rightfully receives the return in whole or in part of its Capital Contribution is nevertheless liable to the Company only to the extent now or hereafter provided by the Delaware Act and Section 8.03(e).
Liability of a Member to the Company. (a) A Member that rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the LLC Act. A Member that receives a Distribution made by the Company in violation of this Agreement or made when the Company’s liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.
(b) Except as expressly provided in this Agreement, no Member is an agent of the Company solely by virtue of being a Member, and no Member has authority to sign, act for or bind the Company solely by virtue of being a Member, all of such powers being vested in the Manager. Any Member that executes any document or instrument or otherwise takes any action to bind the Company in violation of this Section 3.3 shall be solely responsible for, and shall indemnify, defend and hold harmless the Company and each other Member against, any losses that the Company, or such other Member, as the case may be, may at any time become subject to or liable for by reason of the actions specified above. The provisions of this Section 3.3 shall survive the termination of this Agreement.
Liability of a Member to the Company. A Member who receives a distribution in violation of this Agreement or the Act is liable to the Company to the extent now or hereafter provided by the Act.
Liability of a Member to the Company. As between the Members, a Member who receives a distribution made by the Company which is either in violation of this Operating Agreement or in violation of the Delaware Act is liable to the Company for the amount of such distribution.
Liability of a Member to the Company. (a) A Member who rightfully receives the return in whole or in part of its contribution (as defined in Xxxxxxx 00-00-00 xx xxx Xxxxx Xxxxxx Xxx) is nevertheless liable to the Company only to the extent now or hereafter provided by the North Dakota Act.
(b) A Member who receives a distribution made by the Company:
(1) which is either in violation of this Operating Agreement, or
(2) when the Company’s liabilities exceed its assets (after giving effect to the distribution), is liable to the Company for a period of six years after such distribution for the amount of the distribution.
Liability of a Member to the Company. A Member who receives a distribution from the Company regarding a Series is liable to the Company regarding such Series or to others only to the extent provided by the Act and other applicable law.
Liability of a Member to the Company. A Member who receives a Distribution when the Property of the Company is not sufficient to pay all liabilities of the Company (except liabilities to Members on account of their Capital Contributions) is liable to the Company for a period of two (2) years after such Distribution for the amount of the Distribution.
