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
Appears in 1 contract
Sources: Operating Agreement
Return of Contribution Nonrecourse to Other Members. Upon Except as provided by law or as expressly provided in this Operating Agreement, 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 Contributionits 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 cash contribution of one or more Members and Assignees, such Members or Assignees shall have no recourse against any other Member or Assignee.94Assignee.
Appears in 1 contract
Sources: Operating Agreement (Tb Woods Corp)