Common use of Return of Contribution Nonrecourse to Other Shareholders Clause in Contracts

Return of Contribution Nonrecourse to Other Shareholders. Upon dissolution, each Shareholder and Economic Interest Holder shall look solely to the assets of the Company for the return of such Shareholder's Capital Account. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Account of one or more Shareholder or Economic interest Holder, including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Shareholders shall have no recourse against the Company, any Manager, or any other Shareholder.

Appears in 2 contracts

Samples: Operating Agreement (National Boston Medical Inc), Operating Agreement (National Boston Medical Inc)

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Return of Contribution Nonrecourse to Other Shareholders. Upon dissolution, each Shareholder and Economic Interest Holder shall look solely to the assets of the Company for the return of such Shareholder's ’s Capital Account. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Account of one or more Shareholder or Economic interest HolderInterest Molder, including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Shareholders shall have no recourse against the Company, any Manager, or any other Shareholder.

Appears in 1 contract

Samples: Operating Agreement (Phoenix Container, Inc.)

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Return of Contribution Nonrecourse to Other Shareholders. Upon dissolution, each Shareholder and Economic Interest Holder shall look solely to the assets of the Company for the return of such Shareholder's ’s Capital Account. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Account of one or more Shareholder or Economic interest Interest Holder, including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Shareholders shall have no recourse against the Company, any Manager, or any other Shareholder.

Appears in 1 contract

Samples: Operating Agreement (Aptitude Solutions, Inc.)

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