Negative Capital Account. If the Member has a negative balance in the Member's capital account upon liquidation of the Company, the Member will have no obligation to make any contribution to the capital of the Company to make up the deficit, and the deficit will not be considered a debt owed to the Company or any other person for any purpose.
Negative Capital Account. No Member shall be required to make up a deficit balance in such Member’s Capital Account or to pay to any Member the amount of any such deficit in any such account.
Negative Capital Account. Except as otherwise agreed to in writing by any Partner, if any Partner has a deficit balance in his Capital Account (after giving effect to all contributions, distributions and allocations for all taxable years, including the year during which such liquidation occurs), such Partner shall have no obligation to make any contribution to the capital of the Partnership with respect to such deficit, and such deficit shall not be considered a debt owed to the Partnership or to any other Person for any purpose whatsoever.
Negative Capital Account. No Partner shall at any time have any liability to the Partnership or to any other Partner to restore or otherwise to be responsible for any negative capital account except to the extent the negative capital account is created by reason of distributions or other actions in violation of this Agreement or the Texas Business Organizations Code.
Negative Capital Account. If upon dissolution and termination of the LLC, the performance of the LLC results in an overall loss, each of the Members shall be obligated to restore any deficit in its Capital Account. Liability for such loss shall continue after termination of the LLC with respect to any claims which may be made against the Members by reason of the business or operations of the LLC.
Negative Capital Account. The Member will not at any time have any liability to the Company for any negative balance in its Capital Account.
Negative Capital Account. Except as otherwise provided in this Agreement, no Partner shall at any time have any liability to the Partnership or any Partner, or be obligated to restore, or otherwise be responsible for, any negative Capital Account of such Partner in the Partnership.
Negative Capital Account. A Capital Account with a balance of less than zero.
Negative Capital Account. If the General Partner or the Special General Partner, on the date of "liquidation" of its respective interest in the Partnership (within the meaning of Treasury Regulation section 1.704-1(b)(2)(ii)(g)), has a negative balance in its Capital Account, then such Partner shall contribute in cash to the capital of the Partnership the amount required to increase its Capital Account as of such date to zero. Any such contribution required of the General Partner or the Special General Partner under this Section 4.1.5 shall be made by such Partner on or before the later of (i) the end of the Partnership Year in which such Partner's interest in the Partnership is liquidated, or (ii) the ninetieth calendar day following the date of such liquidation. Notwithstanding any provision of this Agreement to the contrary, all amounts so contributed by the General Partner or the Special General Partner to the capital of the Partnership in accordance with this Section 4.1.5 shall, upon liquidation of the Partnership under Article XIII hereof, be distributed in accordance with Section 13.2.1 hereof.
Negative Capital Account. In the event that, in a liquidation of the Company, the Capital Account balance of a Member is a negative amount, after taking into account all allocations to such Capital Account under Article 11 hereof and distributions in accordance with Section 12.2 hereof, such Member shall not be obligated to make any contribution to the capital of the Company in an amount equal to its negative Capital Account balance or otherwise.
