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.
Appears in 11 contracts
Samples: Limited Liability Company Agreement (Mid-Con Energy Partners, LP), Limited Liability Company Agreement, Limited Liability Company Agreement
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, except as may be required by applicable Law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 6 contracts
Samples: Limited Liability Company Agreement, Purchase Agreement, Limited Liability Company Agreement
No Deficit Restoration Obligation. Except as otherwise expressly explicitly provided in this Agreementelsewhere herein, 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, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (STR Holdings (New) LLC), Contribution Agreement (STR Holdings (New) LLC), Limited Liability Company Agreement (STR Holdings LLC)
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, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (Central Energy Partners Lp)
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 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, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Woodward, Inc.), Master Agreement (Woodward, Inc.)
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 the of Company or the termination of any Series shall a Member with a negative balance in its Series Capital Account have any obligation to the Company Company, any Series, or the other Members to restore such negative balance, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Springleaf Holdings, Inc.), Limited Liability Company Agreement (Springleaf Holdings, LLC)
No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreement, at 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., except as may be required by law. ARTICLE IV
Appears in 1 contract
No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreement, at At no time during the term of the Company or upon dissolution and or 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, except as may be required by non-waivable provisions of applicable Law.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Albany International Corp /De/)
No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreement, at no time during the term tenn 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, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement
No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreementagreed to by the Members, at no time during the term of the Company or upon dissolution and liquidation thereof shall a such Member with a negative balance in its Capital Account have any obligation to the Company or the other Members to restore such negative balance, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Leucadia National Corp)
No Deficit Restoration Obligation. Except as otherwise expressly provided in this Agreement, at 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, except as may be required by law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (GMX Resources Inc)
