Common use of Rights of Creditors Clause in Contracts

Rights of Creditors. This Agreement is expressly not intended for the benefit of any creditor of the Company or any other Person who is not a Member. No creditor or other Person shall have any rights to the Member's obligation for Capital Contributions except for a creditor who extended credit to the Company in reliance on the Member's obligation for a Capital Contribution as provided in the LLC Law.

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

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Rights of Creditors. This The provisions of this Agreement is expressly are not intended to be for the benefit of any creditor of Person (other than a Member) to whom any debts, liabilities or obligations are owed by, or who otherwise has a claim against, the Company or any other Person who is not a Member. No creditor or other , and no such Person shall have any rights to the Member's obligation for Capital Contributions except for a creditor who extended credit to under such provisions or shall by reason of such provisions make any claim in respect of any of such debts, liabilities or obligations against the Company in reliance on the or a Member's obligation for a Capital Contribution as provided in the LLC Law.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Rights of Creditors. This The provisions of this Agreement is expressly are not intended to be for the benefit of any creditor of the Company or any person (other Person who is not than a Member. No creditor ) to whom any debts, liabilities, or other Person obligations are owed by, or who otherwise has a claim against, the Fund or a Member, and no such person shall have any rights to under such provisions or shall by reason of such provisions make any claim in respect of any such debts, liabilities, or obligations against the Fund or a Member's obligation for Capital Contributions except for a creditor who extended credit to the Company in reliance on the Member's obligation for a Capital Contribution as provided in the LLC Law.

Appears in 1 contract

Samples: Subscription Agreement

Rights of Creditors. This The provisions of this Agreement is expressly are not intended to be for the benefit of any creditor of the Company (other than a Partner), or any Person (other Person than a Partner) to whom any debts, liabilities or obligations are owed, or who is not otherwise has a Member. No claim against, the Partnership or a Partner, and no such creditor or other Person shall have any rights to under such provisions or shall by reason of such provisions make any claim against the Member's obligation for Capital Contributions except for Partnership or a creditor who extended credit to Partner in respect of any of the Company in reliance on the Member's obligation for a Capital Contribution as provided in the LLC Lawaforesaid debts, liabilities or obligations.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hydratight Operations, Inc.)

Rights of Creditors. This The provisions of this Agreement is expressly are not intended to be for the benefit of any creditor of Person (other than a Member) to whom any debts, liabilities or obligations are owed by, or who otherwise has a claim against, the Company or any other Person who is not a Member. No creditor or other , and no such Person shall have any rights to the Member's obligation for Capital Contributions except for a creditor who extended credit to under such provisions or shall by reason of such provisions make any claim in respect of any of such debts, liabilities or obligations against the Company in reliance on the or a Member's obligation for a Capital Contribution as provided in the LLC Law.. [•] CONFIDENTIAL TREATMENT REQUESTED

Appears in 1 contract

Samples: Operating Agreement (Sims Group LTD)

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Rights of Creditors. This Agreement is expressly not intended for the benefit of any creditor of the Company or any other Person person who is not a Member. No creditor or other Person shall have any rights to the Member's obligation for Capital Contributions except for a creditor who extended credit to the Company in reliance on the Member's obligation for a Capital Contribution as provided in the LLC LawAct.

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

Rights of Creditors. This The provisions of this Agreement is expressly are not intended to be for the benefit of any creditor of (other than a Member) to whom any debts, liabilities or obligations are owed by, or who otherwise have a claim against, the Company or any other Person who is not a Member. No , and, except upon strict compliance with Section 16 above pertaining to Involuntary Transferees, no such creditor or other Person shall have any rights to under such provisions, nor may by reason of such provisions make any claim in respect of any of the Member's obligation for Capital Contributions except for a creditor who extended credit to debts, liabilities or obligations or otherwise against the Company in reliance on the or any Member's obligation for a Capital Contribution as provided in the LLC Law.

Appears in 1 contract

Samples: Operating Agreement

Rights of Creditors. This Agreement is expressly not intended for the benefit of any creditor of the Company or any other Person person who is not a Member. No creditor or other Person shall have any rights to the Member's obligation for Capital Contributions except for a creditor who extended credit to the Company in reliance on the Member's obligation for a Capital Contribution as provided in the LLC LawContributions.

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

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