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.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (Vertical Computer Systems Inc), Operating Agreement (Vertical Computer Systems Inc)