Common use of Managing Member Not Liable for Return of Capital Contributions Clause in Contracts

Managing Member Not Liable for Return of Capital Contributions. The Managing Member shall not be personally liable for the return of any Capital Contributions, nor shall the Managing Member be personally liable for any distribution required pursuant to this Agreement, and such distributions shall be made solely from available Company assets, if any.

Appears in 1 contract

Sources: Limited Liability Company Agreement

Managing Member Not Liable for Return of Capital Contributions. The Neither the Managing Member nor any of its Affiliates shall not be personally liable for the return of the Capital Contributions of any Capital Contributions, nor shall the Managing Member be personally liable for any distribution required pursuant to this AgreementMember, and such distributions return shall be made solely from available Company assetsAvailable Assets of the Company, if any, and each Non-Managing Member hereby waives any and all claims that it may have against the Managing Member or any Affiliate thereof in this regard.

Appears in 1 contract

Sources: Operating Agreement