Common use of Negative Capital Account Balances Clause in Contracts

Negative Capital Account Balances. In the event that any Member shall have a deficit balance in his, her or its Capital Account, such Member shall have no obligation, during the term of the Company or upon dissolution or liquidation thereof, to restore such negative balance or make any Capital Contributions to the Company by reason thereof, except as may be required by applicable law.

Negative Capital Account Balances. In the event that If any Member shall have has a --------------------------------- deficit balance in his, her or its Capital AccountAccount (after giving effect to all contributions, distributions and allocations for all Fiscal Years, including the Fiscal Year during which such liquidation occurs), such Member shall have no obligation, during obligation to make any contribution to the term capital of the Company or upon dissolution or liquidation thereofwith respect to such deficit, to restore and such negative balance or make any Capital Contributions deficit shall not be considered a debt owed to the Company by reason thereof, except as may be required by applicable lawor to any other Person for any purpose whatsoever.

Negative Capital Account Balances. In the event that If any Member shall have has a deficit balance in hissuch Member's Capital Account (after giving effect to all Contributions, her or its Capital AccountDistributions and Allocations for all fiscal years, including the fiscal year during which such liquidation occurs), such Member shall have no obligation, during obligation to make any contribution to the term capital of the Company or upon dissolution or liquidation thereofwith respect to such deficit, to restore and such negative balance or make any Capital Contributions deficit shall not be considered a debt owed to the Company by reason thereof, except as may be required by applicable lawor to any other Person for any purpose whatsoever.