Common use of No Member Deficit Restoration Obligation Clause in Contracts

No Member Deficit Restoration Obligation. No Member is liable to the Company or any other person for the repayment of any deficit in the Member’s Capital Account, except as provided in Section 18-607 of the Act.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Martin Midstream Partners Lp), Limited Liability Company Agreement (Martin Midstream Partners Lp)

AutoNDA by SimpleDocs

No Member Deficit Restoration Obligation. No Member is shall be liable to the Company Company, to another Member, or any other person to a third party, for the repayment of any deficit in the Member’s Capital Account, except as provided in Section 18-607 of the Act.

Appears in 1 contract

Samples: Operating Agreement

AutoNDA by SimpleDocs

No Member Deficit Restoration Obligation. No Member is liable to the Company or any other person for the repayment of any deficit in the Member’s 's Capital Account, except as provided in Section 18-607 of the Act.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Martin Midstream Partners Lp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!