Common use of Rights of Creditors Clause in Contracts

Rights of Creditors. The provisions of this Agreement are not intended to be for the benefit of any 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 a Member, and no such Person shall have any rights 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 or a Member.

Appears in 2 contracts

Samples: Operating Agreement, Limited Liability Company Operating Agreement

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

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

Rights of Creditors. The provisions of this Agreement are not intended to be for the benefit of any Person creditor (other than a Member) to whom any debts, liabilities or obligations are owed by, or who otherwise has have a claim against, the Company or a any Member, and and, except upon strict compliance with Section 16 above pertaining to Involuntary Transferees, no such Person creditor shall have any rights under such provisions or shall provisions, nor may by reason of such provisions make any claim in respect of any of such the debts, liabilities or obligations or otherwise against the Company or a any Member.

Appears in 1 contract

Samples: Operating Agreement

Rights of Creditors. The provisions of this Agreement are not intended to be for the benefit of any Person person (other than a Member) to whom any debts, liabilities liabilities, or obligations are owed by, or who otherwise has a claim against, the Company Fund or a Member, and no such Person person shall have any rights under such provisions or shall by reason of such provisions make any claim in respect of any of such debts, liabilities liabilities, or obligations against the Company Fund or a Member.

Appears in 1 contract

Samples: Operating Agreement

Rights of Creditors. The provisions of this Agreement are not intended to be for the benefit of any 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 a Member, and no such Person shall have any rights 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 or a Member.. [•] CONFIDENTIAL TREATMENT REQUESTED

Appears in 1 contract

Samples: Operating Agreement (Sims Group LTD)

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Rights of Creditors. The provisions of this Agreement are not intended to be for the benefit of any creditor (other than a Partner), or any Person (other than a MemberPartner) to whom any debts, liabilities or obligations are owed byowed, or who otherwise has a claim against, the Company Partnership or a MemberPartner, and no such creditor or other Person shall have any rights under such provisions or shall by reason of such provisions make any claim against the Partnership or a Partner in respect of any of such the aforesaid debts, liabilities or obligations against the Company or a Memberobligations.

Appears in 1 contract

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

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

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

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

Appears in 1 contract

Samples: Operating Agreement (Telergy Inc /Ny)

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