Limitation on Liability of Non-Managing Members. No Non-Managing Member shall be liable for any debts, liabilities, contracts or obligations of the Company. A Non-Managing Member shall be liable to the Company only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Non-Managing Member shall, except as otherwise required by the Act, be required to make any further Capital Contributions or other payments or lend any funds to the Company.
Appears in 3 contracts
Samples: Operating Agreement (Wisconsin Public Service Corp), Operating Agreement (Alliant Energy Corp), Operating Agreement (Alliant Energy Corp)
Limitation on Liability of Non-Managing Members. No Non-Managing Member shall be liable for any debts, liabilities, contracts or obligations of the Company. A Non-Managing Member shall be liable to the Company only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Non-Managing Member shall, except as otherwise required by the Act, be required to make any further Capital Contributions or other payments or lend any funds to the Company.
Appears in 3 contracts
Samples: Exchange Agreement, Exchange Agreement, Operating Agreement
Limitation on Liability of Non-Managing Members. No Non-Managing Member shall be liable for any debts, liabilities, contracts or obligations of the Company. A Non-Managing Member shall be liable to the Company only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Non-Managing Member shall, except as otherwise required by the Act, shall be required to make any further Capital Contributions or other payments or lend any funds to the Company.. ARTICLE VIII TRANSFERS OF MEMBER INTERESTS, ADMISSIONS OF SUBSTITUTE MEMBERS, AND MEMBER DISSOCIATION
Appears in 1 contract
Samples: Operating Agreement (Central Vermont Public Service Corp)
