Common use of No Deficit Restoration Obligation Clause in Contracts

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. 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 TBOCAct, to any other Person for any purpose whatsoever.

No Deficit Restoration Obligation. No Notwithstanding any other provision of this Agreement to the contrary, at no time during the term of the Company or upon dissolution and liquidation thereof shall a Member shall be liable with a negative balance in its Capital Account have any obligation to the Company or the other Members to restore such negative balance. In addition, no allocation to any other Member for of any negative balance outstanding loss, whether attributable to depreciation or otherwise, shall create any asset of or obligation to the Company, even if such allocation reduces the Capital Account of any Member or creates or increases a deficit in each such Member’s Capital Account, whether such negative Capital Account results from . It is also the allocation intent of losses or other items of deduction and loss to such Member or from distributions to such Member, and such the Members that no Member shall not have be obligated to pay any obligation such amount to make any contribution to or for the capital account of the Company with respect to such deficit and such deficit shall not be considered a debt owed to or any creditor of the Company or, except as required by the TBOC, to any other Person for any purpose whatsoeverCompany.