Liabilities of the Managing Member Associates. Except to the extent otherwise required by law, no Managing Member Associate shall be personally liable for: (a) the repayment, satisfaction or discharge of any debt, liability, obligation or commitment of the Company whether arising in tort, contract or otherwise; (b) the repayment, to any Class A Member or Assignee of the Company, of any Capital Contribution of such Class A Member or Assignee; or (c) any decrease in the value of any Capital Account of any Class A Member or Assignee of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Liabilities of the Managing Member Associates. Except to the extent otherwise required by law, no Managing Member Associate shall be personally liable for: (a) the repayment, satisfaction or discharge of any debt, liability, obligation or commitment of the Company whether arising in tort, contract or otherwise; (b) the repayment, to any Class A Member or Assignee of the Company, of any Capital Contribution of such Class A Member or AssigneeAssignee to the Company; or (c) any decrease in the value of any Capital Account of any Class A Member or Assignee of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC)
Liabilities of the Managing Member Associates. Except to the extent otherwise required by law, no Managing Member Associate shall be personally liable for: (a) the repayment, satisfaction or discharge of any debt, liability, obligation or commitment of the Company whether arising in tort, contract or otherwise; (b) the repayment, to any Class A Member or Assignee of the Company, of any Capital Contribution of such Class A Member or Assignee; or (c) any decrease in the value of any Capital Account of any Class A Member or Assignee of the Company.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC)
