Common use of Members Liability Clause in Contracts

Members 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 and shall not be required to restore a deficit balance in its 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. The Manager shall not have any personal liability for the repayment of any Capital Contributions of any Member.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement (Alliance Pharmaceutical Corp)

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Members Liability. No Member shall be liable under a judgment, 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 and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contributions capital contributions have been made, to make any additional contributions, assessments or payments to the Company, provided that a Member may be required to repay distributions made to it as provided in the Act. The Manager Governors shall not have any personal liability for the repayment of any Capital Contributions capital contributions of any Member.

Appears in 1 contract

Samples: Operating Agreement (Enterprise Financial Services Corp)

Members Liability. No Member shall be liable liable, whether 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 and shall not be required to restore a deficit balance in its 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. The Manager shall not have any personal liability for the repayment of any Capital Contributions of any MemberCompany (subject to Section 2 herein).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lakes Entertainment Inc)

Members Liability. No Member shall be liable under a judgment, 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 and shall not be required to restore a deficit balance in its 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, provided that a Member may be required to repay distributions made to it as provided in Section 18-607 of the Act. The Manager Managers shall not have any personal liability for the repayment of any Capital Contributions of any Member.

Appears in 1 contract

Samples: Operating Agreement (Paula Financial)

Members Liability. No Member shall be liable under a judgment, decree or order of a court, or in any other manner manner, for the Debts Debt or any other obligations obligation or liabilities liability of the Company. A Member shall be liable only to make its Capital Contributions and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its required Capital Contributions have been made, to make any additional contributions, assessments or payments to the Company. The No Manager shall not have any personal liability for the repayment of any Capital Contributions of any Member.

Appears in 1 contract

Samples: Operating Agreement (OCM HoldCo, LLC)

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Members 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 and shall not be required to restore a deficit balance in its 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. The Manager shall not have any personal liability for the repayment of any Capital Contributions of any Member.

Appears in 1 contract

Samples: Operating Agreement

Members Liability. No Member shall be liable under a judgment, 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 and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contributions capital contributions have been made, to make any additional contributions, assessments or payments to the Company. The Manager shall not have any personal liability for , provided that a Member may be required to repay distributions made to it as provided in the repayment of any Capital Contributions of any MemberAct.

Appears in 1 contract

Samples: Operating Agreement (Brimfield Precision LLC)

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