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.
Appears in 1 contract
Sources: Limited Liability Company Agreement
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, 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 Company liabilities of the Company is insufficient to return the contributions of one or more Members contributions, no Unit Holders, such Unit Holders Holder shall have no recourse against any other Member, except as otherwise provided by lawUnit Holder.
Appears in 1 contract
Sources: Limited Liability Company Agreement
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, dissolution of the Company each Unit Holder Unitholder shall look solely to the assets of the Company for the return of his, her or its such Unitholder’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 contributions Capital Contributions of one or more Unit HoldersMembers, such Unit Holders shall no Unitholder will have no recourse against any other Member, except Unitholder so long as otherwise provided by lawthe assets of the Company have been distributed in accordance with this Section 13.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Zabala Farms Group, LLC)
Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution, 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 Members, no Unit Holders, such Unit Holders Holder shall have no recourse against any other Member, except as otherwise provided by lawUnit Holder.
Appears in 1 contract
Sources: Limited Liability Company Agreement