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.
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Negative Capital Account. If the any Member has a negative deficit balance in its Capital Account (after giving effect to all contributions, distributions and allocations for all taxable years, including the Member's capital account upon taxable year during which such liquidation of the Companyoccurs), the such Member will shall have no obligation to make any contribution to the capital of the Company with respect to make up the such deficit, and the such deficit will shall not be considered a debt owed to the Company or to any other person Person for any purposepurpose whatsoever.
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Samples: Limited Liability Company Operating Agreement (Ashford Hospitality Trust Inc), Limited Liability Company Operating Agreement (Ashford Hospitality Trust Inc)
Negative Capital Account. If the No Member has with a negative balance in the Member's capital account upon liquidation of the Company, the Member will its Capital Account shall have no any 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 provide funds to the Company or the other Members to restore the negative balance, and any such deficit in the Capital Account of any Member shall not constitute an obligation of such Member to the Company or the other person for any purposeMembers.
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Negative Capital Account. If the Member has a A negative or deficit balance in the any Member's capital account upon liquidation Capital Account shall not be deemed to be an asset of the Company, the and no Member will with a negative or deficit balance in such Member's Capital Account shall have no any obligation to make any contribution the Company, 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 Member or to any purposethird party or creditor to restore or repay such negative or deficit balance.
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Samples: Operating Agreement (Innovex Inc)
Negative Capital Account. If the Member has a negative balance in the Member's ’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.
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