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.
Appears in 2 contracts
Samples: Operating Agreement (Brandywine Realty Trust), Operating Agreement (Brandywine Realty Trust)
Deficit Capital Account. Upon liquidation, each Member shall look solely to the assets of the Company for the return of that Member's ’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 12.4assets.
Appears in 1 contract
Samples: Operating Agreement (Rural Metro of South Dakota Inc)
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 12.4assets.
Appears in 1 contract
Samples: Operating Agreement (Cerprobe Corp)
