Common use of Member’s Capital in the Company Clause in Contracts

Member’s Capital in the Company. (a) The Member shall contribute to the Company as its Capital Contribution the amount determined by the Member in its sole discretion to be necessary or convenient for carrying on the business and activities of the Company. No interest shall accrue on any Capital Contribution, and the Member shall not have the right to withdraw or be repaid any Capital Contribution except as specifically provided in Section 6.2 and Section 9.2 of this Agreement. Notwithstanding the foregoing, the Member shall not be required to make any Capital Contribution. (b) Anything in this Agreement to the contrary notwithstanding, no Member shall have any personal liability for liabilities or obligations of the Company, except to the extent of its Capital Contributions made to the Company as aforesaid, and, no Member shall be required to make any further or additional contributions to the capital of the Company or to lend or advance funds to the Company for any purpose. (c) The obligation, if any, of a Member to contribute to the capital of the Company is solely and exclusively for the benefit of the Company and the Member, and is not intended to confer rights on any third party (under Section 18-502(b) of the Act or otherwise). Without limiting the generality of the foregoing, no creditor of the Company shall be deemed a third party beneficiary of any obligation of any Member to contribute capital or make advances to the Company.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (Rem Consulting of Ohio, Inc.), Limited Liability Company Agreement (Rem Consulting of Ohio, Inc.), Limited Liability Company Agreement (Rem Arrowhead, Inc.)

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Member’s Capital in the Company. (a) 6.1.1 The Member shall contribute to the Company as its Capital Contribution Contribution” the amount determined by the Member in its sole discretion to be necessary or convenient for carrying on the business and activities of the Company. No interest shall accrue on any Capital Contribution, and the Member shall not have the right to withdraw or be repaid any Capital Contribution except as specifically provided in Section 6.2 and Section 9.2 of this the Agreement. Notwithstanding the foregoing, the Member shall not be required to make any Capital Contribution. (b) 6.1.2 Anything in this Agreement to the contrary notwithstanding, no Member shall have any personal or vicarious liability for liabilities or obligations of the Company, except to the extent of its Capital Contributions made to the Company as aforesaid, and, and no Member shall be required to make any further or additional contributions to the capital of the Company or to lend or advance funds to the Company for any purpose. (c) 6.1.3 The obligation, if any, of a Member to contribute to the capital of the Company is solely and exclusively for the benefit of the Company and the Member, and is not intended to confer rights on any third party (under Section 18-502(b) of the Act or otherwise)party. Without limiting the generality of the foregoing, no creditor of the Company shall be deemed a third party beneficiary of any obligation of any Member to contribute capital or make advances to the Company.

Appears in 10 contracts

Samples: Operating Agreement (Morris Publishing Group LLC), Operating Agreement (Morris Publishing Group LLC), Operating Agreement (Morris Publishing Group LLC)

Member’s Capital in the Company. (a) 6.1.1 The Member shall contribute to the Company as its Capital Contribution Contribution” the amount determined by the Member in its sole discretion to be necessary or convenient for carrying on the business and activities of the Company. No interest shall accrue on any Capital Contribution, and the Member shall not have the right to withdraw or be repaid any Capital Contribution except as specifically provided in Section 6.2 and Section 9.2 of this the Agreement. Notwithstanding the foregoing, the Member shall not be required to make any Capital Contribution. (b) 6.1.2 Anything in this Agreement to the contrary notwithstanding, no Member shall have any personal or vicarious liability for liabilities or obligations of the Company, except to the extent of its Capital Contributions made to the Company as aforesaid, and, and no Member shall be required to make any further or additional contributions to the capital of the Company or to lend or advance funds to the Company for any purpose. (c) 6.1.3 The obligation, if any, of a Member to contribute to the capital of the Company is solely and exclusively for the benefit of the Company and the Member, and is not intended to confer rights on any third party (under Section 18-502(b) of the Act or otherwise)party. Without limiting the generality of the foregoing, no creditor of the Company shall be deemed a third party beneficiary of any obligation of any Member to contribute capital or make advances to the Company. 6.1.4 Anything in this Agreement to the contrary notwithstanding, the Company shall not be authorized to issue membership interests or any other class of equity security without voting rights or with limited voting rights.

Appears in 1 contract

Samples: Operating Agreement (Morris Publishing Group LLC)

Member’s Capital in the Company. (a) The Member shall contribute to the Company as its Capital Contribution the amount determined by the Member in its sole discretion to be necessary or convenient for carrying on the business and activities of the Company. No interest shall accrue on any Capital Contribution, and the Member shall not have the right to withdraw or be repaid any Capital Contribution except as specifically provided in Section 6.2 and Section 9.2 of this the Agreement. Notwithstanding the foregoing, the Member shall not be required to make any Capital Contribution. (b) Anything in this Agreement to the contrary notwithstanding, no Member shall have any personal liability for liabilities or obligations of the Company, except to the extent of its Capital Contributions made to the Company as aforesaid, and, no Member shall be required to make any further or additional contributions to the capital of the Company or to lend or advance funds to the Company for any purpose. (c) The obligation, if any, of a Member to contribute to the capital of the Company is solely and exclusively for the benefit of the Company and the Member, and is not intended to confer rights on any third party (under Section 18-502(b) of the Act or otherwise). Without limiting the generality of the foregoing, no creditor of the Company shall be deemed a third party beneficiary of any obligation of any Member to contribute capital or make advances to the Company.

Appears in 1 contract

Samples: Membership Interests Purchase Agreement (Maguire Properties Inc)

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Member’s Capital in the Company. (a) The Member shall contribute to the Company as its Capital Contribution the amount determined by the Member in its sole discretion to be necessary or convenient for carrying on the business and activities of the Company. No interest shall accrue on any Capital Contribution, and the Member shall not have the right to withdraw or be repaid any Capital Contribution except as specifically provided in Section 6.2 and Section 9.2 of this Agreement. Notwithstanding the foregoing, the Member shall not be required to make any Capital Contribution. (b) Anything in this Agreement to the contrary notwithstanding, no Member shall have any personal liability for liabilities or obligations of the Company, except to the extent of its Capital Contributions made to the Company as aforesaid, and, and no Member shall be required to make any further or additional contributions to the capital of the Company or to lend or advance funds to the Company for any purpose. (c) The obligation, if any, of a Member to contribute to the capital of the Company is solely and exclusively for the benefit of the Company and the Member, and is not intended to confer rights on any third party (under Section 18-502(b) of the Act or otherwise). Without limiting the generality of the foregoing, no creditor of the Company shall be deemed a third party beneficiary of any obligation of any Member to contribute capital or make advances to the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc)

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