Return of Contribution Nonrecourse to Other Members Sample Clauses
The "Return of Contribution Nonrecourse to Other Members" clause establishes that if a member of a company or partnership is entitled to have their capital contribution returned, this obligation is solely the responsibility of the entity itself and not of the other individual members. In practice, this means that if the company cannot repay a member’s contribution, the other members are not personally liable to cover the shortfall. This clause is important because it protects individual members from being held financially responsible for the company’s debts to other members, thereby limiting their risk and ensuring that liability remains with the entity rather than its participants.
Return of Contribution Nonrecourse to Other Members. Except as provided by law, upon dissolution, each member shall look solely to the assets of the Company for the return of the member's capital contribution. If the Company property remaining after the payment or discharge of the Company's debts and liabilities is insufficient to return the cash contribution of one or more members, such member or members shall have no recourse against any other member or the Board.
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Operating Agreement, upon dissolution, each Member shall look solely to the assets of the Company for the return of the Member’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 Members, including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Member or Members shall have no recourse against any other Member, the Manager or the Liquidator.
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Company Agreement, upon dissolution, each Member shall look solely to the assets of the Company for the return of its Capital Contribution. If the Company assets remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the cash contribution of one or more Members, such Member or Members shall have no recourse against any other Member, except to the extent any Member knowingly received a distribution made in violation of this Company Agreement.
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Operating Agreement, upon dissolution, each Member shall look solely to the assets of the Trust for the return of the
Return of Contribution Nonrecourse to Other Members. Except as provided by law, upon dissolution of the Company, each Member shall look solely to the assets of the Company for the return of such Member’s Contributions. Member Contributions will be pro-rated back to each Member.
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, each Unit Holder shall look solely to the assets of the Company for the return of his, her or its Capital Contribution. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the contributions of one or more Unit Holders, such Unit Holders shall have no recourse against any other Member, except as otherwise provided by law.
Return of Contribution Nonrecourse to Other Members. Upon dissolution, each Member and Series A Preferred Owner shall look solely to the assets of the Company for the return of the Member’s and Series A Preferred Owner’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 Members or Series A Preferred Owners, including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Member(s) or Series A Preferred Owner(s) shall have no recourse against any other Member or Series A Preferred Owner.
Return of Contribution Nonrecourse to Other Members. Upon dissolution, each Member and Assignee shall look solely to the assets of the Company for the return of the Member’s or Assignee’s Capital Contribution. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Contribution or any preferential return of one or more Members and Assignees, such Members or Assignees shall have no recourse against any other Member or Assignee.94
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, each Member shall look solely to the assets of Member Newco for the return of the Capital Account of the Member. If Member Newco property remaining after the payment or discharge of the debts and liabilities of Member Newco is insufficient to return the Capital Account of one or more Members, including, without limitation, all or any part of that Capital Account attributable to Member Funding, then such Member or Members shall have no recourse against any other Member. MISCELLANEOUS PROVISIONS
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, each Member shall look solely to the assets of the Company for the return of its Capital