Return of Capital Account. Except as otherwise specifically provided in this Agreement, (i) no Member shall have any right to withdraw or reduce his Capital Contributions, or to demand and receive property other than cash from the Company in return for such Member’s Capital Contribution, (ii) no Member shall have any priority over any other Members as to the return of their Capital Contributions, and (iii) any return of Capital Contributions or Capital Accounts to the Members shall be solely from the Company Assets, and no Member shall be personally liable for any such return.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Return of Capital Account. Except as otherwise specifically provided in this Agreement, (i) no Member shall have any right to withdraw or reduce his its Capital ContributionsContributions or Capital Account, or to demand and receive property other than cash or any distribution from the Company in return for such Member’s its Capital Contribution, (ii) no Member shall have any priority over any other Members as to the return of their Contributions or Capital ContributionsAccount, and (iiiii) any return of Capital Contributions or Capital Accounts to the Members shall be solely from the Company Assets, and no Member shall be personally liable for any such return..
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (MMA Capital Holdings, Inc.), Limited Liability Company Operating Agreement (MMA Capital Holdings, Inc.)
Return of Capital Account. Except as otherwise specifically provided in this Agreement, (i) no Member shall have any right to withdraw its Capital Contributions or reduce his Capital ContributionsAccount, or to demand and receive property other than cash from the Company in return for such Member’s its Capital ContributionContributions or Capital Account, (ii) no Member shall have any priority over any other Members as to the return of their its Capital ContributionsContributions or Capital Account, and (iii) any return of Capital Contributions or Capital Accounts to the Members shall be solely from the Company AssetsProperty, and no Member shall be personally liable for any such return.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Thermoenergy Corp), Operating Agreement (Old Line Bancshares Inc)
Return of Capital Account. Except as otherwise specifically provided in this Agreement, (i) no Member shall have any right to withdraw or reduce his its Capital ContributionsContributions or Capital Account, or to demand and receive property other than cash or any distribution from the Company in return for such Member’s its Capital Contribution, (ii) no Member shall have any priority over any other Members as to the return of their Contributions or Capital ContributionsAccount, and (iiiii) any return of Capital Contributions or Capital Accounts to the Members shall be solely from the Company Assets, and no Member shall be personally liable for any such return.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Mma Capital Management, LLC)
