Common use of Member Liability Clause in Contracts

Member Liability. No Member shall be liable under a judgment, decree, or order of a court, or in any other manner for the Debts or any other obligations or liabilities of the Company. A Member shall be liable only to make its Capital Contributions. No Member shall be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (MCI Income Fund VII, LLC), Limited Liability Company Agreement (MCI Income Fund VII, LLC), Limited Liability Company Agreement (MCI Income Fund V, LLC)

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Member Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner for the Debts debts or any other obligations or liabilities of the Company. A Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 2 contracts

Samples: Operating Agreement (Valcent Products Inc.), Operating Agreement (Global Green Solutions Inc.)

Member Liability. No Member shall be liable to any third party under a judgment, decree, decree or order of a court, or in any other manner for the Debts debts or any other obligations or liabilities of the Company. A Except as required by applicable law or this Agreement, a Member shall be liable only to make its Capital Contributions. No Member shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been madeexcept as unanimously agreed by the Members, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 1 contract

Samples: Operating Agreement (Finova Group Inc)

Member Liability. No Subject to Section 2.3(b), neither the Manager, nor any Member shall be liable to any third party under a judgment, decree, decree or order of a court, or in any other manner manner, for the Debts debts or any other obligations or liabilities of the Company. A Except as required by applicable law or this Agreement, a Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after apart from its Capital Contributions have been madeContributions, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 1 contract

Samples: Operating Agreement (Finova Group Inc)

Member Liability. No Member shall be liable under a judgment, decree, or order of a court, or in any other manner manner, for the Debts debts or any other obligations or liabilities of the Company. A Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, or payments to the Company, notwithstanding anything to Company except as required by the contrary contained hereinexpress terms of this Agreement.

Appears in 1 contract

Samples: Strategic Investment Agreement (Hightimes Holding Corp.)

Member Liability. No Except as expressly provided under the Law, no Member shall be liable under a judgment, decree, or order of a court, or in any other manner have personal liability for the Debts losses, debts, claims, expenses or encumbrances of or against the Company or its Property, nor shall any other obligations or liabilities of the Company. A Member shall be liable only to make its Capital Contributions. No Member shall be required obligated to restore a deficit balance balance, if any, in its Aggregate the Members Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, or payments to the Company, notwithstanding anything to the contrary contained herein(as hereinafter defined).

Appears in 1 contract

Samples: Operating Agreement (Newpark Resources Inc)

Member Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner for the Debts debts or any other obligations or liabilities of the Company. A Except as required by applicable law or this Agreement, a Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after apart from its Capital Contributions have been madeContributions, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 1 contract

Samples: Operating Agreement (Leucadia National Corp)

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Member Liability. No Subject to Section 2.3(b), no Member shall be liable to any third party under a judgment, decree, decree or order of a court, or in any other manner for the Debts debts or any other obligations or liabilities of the Company. A Except as required by applicable law or this Agreement, a Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after apart from its Capital Contributions have been madeContributions, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 1 contract

Samples: Operating Agreement (Finova Group Inc)

Member Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner manner, for the Debts or any other obligations or liabilities of the Company. A Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything provided that a Member may be required to the contrary contained herein.repay dividend or other distributions made to it as provided in Section 5.3 hereof or Section 18-

Appears in 1 contract

Samples: Operating Agreement (Macquarie Infrastructure Assets Trust)

Member Liability. No Subject to Section 2.3(a), no Member shall be liable to any third party under a judgment, decree, decree or order of a court, or in any other manner for the Debts debts or any other obligations or liabilities of the Company. A Except as required by applicable law or this Agreement, a Member shall be liable only to make its Capital Contributions. No Member Contributions and shall not be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after apart from its Capital Contributions have been madeContributions, to make any additional contributions, assessments, assessments or payments to the Company, notwithstanding anything to the contrary contained herein.

Appears in 1 contract

Samples: Operating Agreement (Leucadia National Corp)

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