Deficit Capital Account. Upon the dissolution of the Company, any Member having a deficit balance in its Capital Account shall contribute to the Company the amount of cash or other assets (at their fair market value) necessary to bring the balance of such Member's Capital Account to zero after taking into account all allocations required by the regulations under Section 704(b) of the Code and all distributions of cash and other assets.
Deficit Capital Account. Except as otherwise required in the Act or this Agreement, no Member shall have any liability to restore all or any portion of a deficit balance in a Capital Account.
Deficit Capital Account. Upon a liquidation of the Company within the meaning of Section 1.704-1(b)(2)(ii)(g) of the Treasury Regulations, if any Member has a deficit Capital Account (after giving effect to all contributions, distributions, allocations and other adjustments for all Fiscal Years, including the Fiscal Year in which such liquidation occurs), the Member shall have no obligation to make any Capital Contribution, and the negative balance of any Capital Account shall not be considered a debt owed by the Member to the Company or to any other Person for any purpose.
Deficit Capital Account. Except as otherwise required in the Delaware ----------------------- Act or this Agreement, no Member shall have any liability to restore all or any portion of a deficit balance in a Capital Account.
Deficit Capital Account. Except as otherwise specifically provided in Section 4.4, nothing contained in this Agreement imposes on any Member an obligation to make an Additional Contribution in order to restore a deficit Capital Account upon Liquidation of the Company. Each Member will look solely to the assets of the Company for the return of such Member's Capital Contribution.
Deficit Capital Account. If a Member has a deficit balance in his Capital Account at the time of the liquidation of the Company or the liquidation of his interest in the Company (after crediting allocations of income and debiting allocations of loss to his Capital Account), such Member shall under no circumstances be required to pay to the Company, its creditors or any Member the amount of such deficit balance. No provision of this Agreement shall be construed as creating a deficit restoration obligation or any other obligation relative to a negative or deficit Capital Account balance or any other obligation for the benefit of third parties not executing this Agreement.
Deficit Capital Account. Upon liquidation, each Member shall look solely to the assets of the Company for the return of that Member's Capital Contribution. No Member shall be personally liable for a deficit Capital Account balance of that Member, it being expressly understood that the distribution of liquidation proceeds shall be made solely from existing Company assets in the order and priority set forth in Section 12.3 hereof, and to the extent applicable 12.4.
Deficit Capital Account. Notwithstanding anything to the contrary contained herein, no Member shall have any liability to restore all or any portion of a deficit balance in a Capital Account. A deficit balance in a Member’s Capital Account is not an asset of the Company.
Deficit Capital Account. Upon liquidation of the Partnership, each Partner shall look solely to the assets of the Partnership for the return of such Partner's capital in the Partnership. Except as expressly required to the contrary by the Act, no Partner is personally liable, either to the other Partner or to any third Person, for a deficit capital account balance of such Partner, it being expressly understood that the payment of the Partnership's debts and the distribution of liquidation proceeds shall be made solely from existing Partnership assets.
Deficit Capital Account. Except as otherwise required by the Act, no Member will have any liability to the Company, to any other Member or to the creditors of the Company on account of any deficit Capital Account balance.
