Members Liability. No Member shall be liable under a judgment, decree, or order of a court, or in any other manner for the Debts or any other obligations or Liabilities of the Company. A Member shall be liable only to make its Capital Contribution pursuant to Article II and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contribution has been made pursuant to Article II, to make any additional contributions, assessments or payments to the Company; provided, that a Member may be required to repay distributions made to it as provided under the Act subject to Section 4.4.
Appears in 2 contracts
Sources: LLC Operating Agreement, Operating Agreement
Members Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner for the Debts or any other obligations or Liabilities liabilities of the Company solely by reason of being a member of the Company. A Member shall be liable only to make its Capital Contribution pursuant to Article II the Contributions described in Section 2, on the terms therein described, and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company orCompany, after its Capital Contribution has been made pursuant to Article II, or to make any additional other contributions, assessments or payments to the Company; provided, provided that a Member may be required to repay distributions made to it as provided under in Section 18-607 of the Act subject to or Section 4.4.3.6 hereof. 5.7
Appears in 2 contracts
Sources: Operating Agreement (Pepco Holdings Inc), Operating Agreement (Pepco Holdings Inc)
Members Liability. No Member shall be liable under a judgment, decree, or order of a court, or in any other manner for the Debts or any other obligations or Liabilities of the Company. A Member shall be liable only to make its Capital Contribution pursuant to Article II Section 2.1 and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contribution has been made pursuant to Article IISection 2.1, to make any additional contributions, assessments or payments to the Company; provided, provided that a Member may be required to repay distributions made to it as provided under the Act subject to Section 4.4.
Appears in 1 contract
Sources: Operating Agreement
Members Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner mariner for the Debts or any other obligations or Liabilities liabilities of the Company. A Member shall be liable only to make its Capital Contribution pursuant to Article II Contributions and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contribution has Contributions have been made pursuant to Article IImade, to make any additional contributions, assessments or payments to the Company; provided, provided that a Member may be required to repay distributions made to it as provided under in Section 18-607 of the Act subject to Section 4.44.4 hereof.
Appears in 1 contract
Members Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner for the Debts or any other obligations or Liabilities liabilities of the Company solely by reason of being a Member of the Company. A Member shall be liable only to make its the Capital Contribution pursuant to Article II Contributions described in Section 3, on the terms therein described, and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company orCompany, after its Capital Contribution has been made pursuant to Article II, or to make any additional other contributions, assessments or payments to the Company; provided, provided that a Member may be required to repay distributions made to it as provided under in Section 18- 607 of the Act subject to Section 4.4Act.
Appears in 1 contract
Members Liability. No Member shall be liable under a judgment, decree, decree or order of a court, or in any other manner for the Debts or any other obligations or Liabilities liabilities of the Company. A Member shall be liable only to make its Capital Contribution pursuant to Article II Contributions and shall not be required to restore a deficit balance in its Capital Account or to lend any funds to the Company or, after its Capital Contribution has Contributions have been made pursuant to Article IImade, to make any additional contributions, assessments or payments to the Company; provided, provided that a Member may be required to repay distributions made to it as provided under in Section 18-607 of the Act subject to Section 4.4.4.4 hereof. 6.9
Appears in 1 contract