Common use of Liability of Members Clause in Contracts

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 14 contracts

Samples: Limited Liability Company Agreement (Carlyle Secured Lending, Inc.), Limited Liability Company Agreement (SLR Investment Corp.), Limited Liability Company Agreement (TCG Bdc, Inc.)

AutoNDA by SimpleDocs

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement. Notwithstanding the foregoing provisions of this Section 2.6, no Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Solar Senior Capital Ltd.), Limited Liability Company Agreement (Solar Capital Ltd.)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in an amount up to their respective Capital Commitments in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (New Mountain Finance Corp), Limited Liability Company Agreement (New Mountain Finance Corp)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members Members, in their capacities as Members, shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Owl Rock Core Income Corp.), Limited Liability Company Agreement (Saratoga Investment Corp.), Limited Liability Company Agreement (Owl Rock Capital Corp)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such no liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only other than as is provided may be expressly required by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members Members, in their capacities as such, shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Business Development Corp of America), Securities Purchase Agreement (WhiteHorse Finance, Inc.), Securities Purchase Agreement (Horizon Technology Finance Corp)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company Fund only as is provided by the Act. A Member that receives a distribution made by the Fund in violation of the Act shall be liable to the Company Fund for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members shall not otherwise be liable for the repayment, satisfaction or discharge of the CompanyFund’s debts, liabilities and obligations, except that each Member shall be required to make its Capital Contributions Contribution in accordance with the terms of this Agreement and shall be required to repay any distributions by the Fund to such Member which are not made in accordance with this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Capitala Finance Corp.), Limited Liability Company Agreement (Capitala Finance Corp.)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction satisfaction, and discharge of the debts, liabilities liabilities, and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such that distribution to the extent, and only to the extent, required by the Act. The Members Members, in their capacities as Members, shall not otherwise be liable for the repayment, satisfaction satisfaction, or discharge of the Company’s debts, liabilities liabilities, and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (BlackRock Capital Investment Corp), Limited Liability Company Agreement (THL Credit, Inc.)

AutoNDA by SimpleDocs

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, required by the Act. The Members Members, in their capacities as such, shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fifth Street Finance Corp.)

Liability of Members. Except as expressly provided in this Agreement, a Member shall have such no liability for the repayment, satisfaction and discharge of the debts, liabilities and obligations of the Company only other than as is provided may be expressly required by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such distribution to the extent, and only to the extent, extent required by the Act. The Members Members, in their capacities as such, shall not otherwise be liable for the repayment, satisfaction or discharge of the Company’s debts, liabilities and obligations, except that each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which are not made in accordance with this Agreement.

Appears in 1 contract

Samples: Securities Purchase Agreement (HMS Income Fund, Inc.)

Liability of Members. Except as expressly provided in this Agreement, a A Member shall have such liability for the repayment, satisfaction satisfaction, and discharge of the debts, liabilities liabilities, and obligations of the Company only as is provided by the Act. A Member that receives a distribution made in violation of the Act shall be liable to the Company for the amount of such that distribution to the extent, and only to the extent, required by the Act. The Members Members, in their capacities as Members, shall not otherwise be liable for the repayment, satisfaction satisfaction, or discharge of the Company’s debts, liabilities liabilities, and obligations, except that each . Each Member shall be required to make Capital Contributions in accordance with the terms of this Agreement and shall be required to repay any distributions which that are not made in accordance with this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (MONROE CAPITAL Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!