Liability of a Member. The liability of each Member shall be limited as provided in the Delaware Act and as set forth in this Agreement. No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).
Appears in 381 contracts
Samples: Limited Liability Company Operating Agreement (Masterworks 002, LLC), Limited Liability Company Operating Agreement (Masterworks 002, LLC), Limited Liability Company Operating Agreement (Masterworks 286, LLC)
Liability of a Member. The liability of each Member shall be limited as provided in the Delaware Act and as set forth in this Agreement. No Member of a Series shall be obligated to restore by way of Capital Contribution with respect to such Series or otherwise any deficits in its Capital Account (if such deficits occur)) with respect to such Series.
Appears in 10 contracts
Samples: Limited Liability Company Operating Agreement (Masterworks Vault 3, LLC), Limited Liability Company Operating Agreement (Masterworks Vault 1, LLC), Limited Liability Company Operating Agreement (Masterworks Vault 4, LLC)
Liability of a Member. The liability of each Member and the Managing Member shall be limited as provided in the Delaware Act and as set forth in this Agreement. No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Muscle Maker, Inc.)
