No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreement, at no time during the term of the Company or upon dissolution and liquidation thereof shall a Member with a negative balance in its Capital Account have any obligation to the Company or the other Members to restore such negative balance.
No Deficit Restoration Obligation. No Member shall have an obligation to make any contribution to the capital of the Company as the result of a deficit balance in its Capital Account, and any such deficit shall not be considered a Debt owed to the Company or to any other Person for any purpose whatsoever.
No Deficit Restoration Obligation. Except as provided in Section 14.6, at no time during the term of the Fund or upon dissolution and liquidation thereof shall a Shareholder with a negative balance in his, her or its Capital Account have any obligation to the Fund or the other Shareholders to restore such negative balance, except as may be required by law.
No Deficit Restoration Obligation. Notwithstanding anything herein to the contrary in this Agreement, this Agreement shall not be construed as creating a deficit restoration obligation or otherwise personally obligate any Member to make a Capital Contribution in excess of the such Member’s Capital Commitment.
No Deficit Restoration Obligation. If any Member has a deficit balance in its Capital Account (after giving effect to all contributions, distributions and allocations for all fiscal periods including the fiscal period during which the liquidation occurs), such Member shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any Person for any purpose whatsoever.
No Deficit Restoration Obligation. No Member shall be liable to the Company or to any other Member for any negative balance outstanding in each such Member’s Capital Account, whether such negative Capital Account results from the allocation of losses or other items of deduction and loss to such Member or from distributions to such Member, and such Member shall not have any obligation to make any contribution to the capital of the Company with respect to such deficit and such deficit shall not be considered a debt owed to the Company or, except as required by the TBOC, to any other Person for any purpose whatsoever.
No Deficit Restoration Obligation. Notwithstanding anything to the contrary contained in this Exhibit or in the Agreement, no Member shall have any obligation to the Company or to any other Member to restore any deficit balance in its Capital Account to the Company except as may be required by the Act.
No Deficit Restoration Obligation. Notwithstanding anything to the contrary in this Agreement, upon a liquidation within the meaning of Treasury Regulations section 1.704-1(b)(2)(ii)(g), if any Member has a Adjusted Capital Account Deficit (after giving effect to all contributions, distributions, allocations, and other Capital Account adjustments for all fiscal years, including the fiscal year in which the liquidation occurs), such Member shall not have any obligation to make any Capital Contribution to the Company, and the negative balance of such Member’s Capital Account shall not be considered a debt owed by such Member to the Company or to any other Person for any purpose whatsoever. ARTICLE XIII
No Deficit Restoration Obligation. Except as otherwise expressly required in the Act or this Agreement, no Member will have any liability to restore all or any portion of a deficit balance in such Member's Capital Account.
No Deficit Restoration Obligation. If any Party has a deficit balance in its Capital Account (after giving effect to all contributions, distributions and allocations for all fiscal periods including the fiscal period during which the liquidation occurs), such Party will have no obligation to make any contribution to the capital of Development with respect to such deficit, and such deficit will not be considered a debt owed to Development or to any Person for any purpose whatsoever.
