Common use of Liability of a Member to the Company Clause in Contracts

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Project Orange Capital Corp), Operating Agreement (Mediacom LLC)

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Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware ActLaw. A Member who or which receives a Distribution or portion thereof made by the Company in violation of this Agreement or made when the Company's Company s liabilities exceed its assets (after giving effect to such Distributiondistribution) shall be liable to the Company for the amount of such DistributionDistribution or portion thereof.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.

Appears in 1 contract

Samples: Operating Agreement (Victory Entertainment Corp)

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return in whole or in part of any portion its contribution (as defined in Section 2 of a Capital Contribution the Delaware Act) is nevertheless liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution distribution made by the Company which is either in violation of this Agreement Agreement, or made when the Company's liabilities exceed its assets (after giving effect to such Distributionthe distribution) shall be is liable to the Company for a period of six years after the distribution for the amount of such Distributionthe distribution.

Appears in 1 contract

Samples: Operating Agreement (Prime Hospitality Corp)

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.

Appears in 1 contract

Samples: Operating Agreement (Insight Communications Co Inc)

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Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return in whole or in part of any portion of a its Capital Contribution is nevertheless liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such DistributionAct and Section 8.03(e).

Appears in 1 contract

Samples: Operating Agreement (Horsburgh & Scott Co)

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the return of any portion of a Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware ActLaw. A Member who or which receives a Distribution or portion thereof made by the Company in violation of this Agreement or made when the Company's ’s liabilities exceed its assets (after giving effect to such Distributiondistribution) shall be liable to the Company for the amount of such DistributionDistribution or portion thereof.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Liability of a Member to the Company. A Member who or which ------------------------------------ rightfully receives the a return in whole or in part of any portion of a its Capital Contribution is liable to the Company only to the extent now or hereafter provided by the Delaware Act. A Member who or which receives a Distribution made by the Company in violation of this Agreement or made when the Company's liabilities exceed its assets (after giving effect to such Distribution) shall be liable to the Company for the amount of such Distribution.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Great Plains Energy Inc)

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