Common use of Limitations on Payments Made in Dissolution Clause in Contracts

Limitations on Payments Made in Dissolution. Each Member shall be entitled to look solely to the assets of the Company for the return of such Member's positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision for all debts, liabilities, and obligations of the Company may be insufficient to return the Capital Contributions or share of Net Profits reflected in such Member's positive Capital Account balance, a Member shall have no recourse against the Company or any other Member.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Seven Arts Pictures PLC), Limited Liability Company Agreement (Charter Communications Inc /Mo/), Limited Liability Company Agreement (Charter Communications Inc /Mo/)

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Limitations on Payments Made in Dissolution. Each Member shall be entitled to look solely to the assets of the Company for the return of such Member's ’s positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision for all debts, liabilities, and obligations of the Company may be insufficient to return the Capital Contributions or share of Net Profits reflected in such Member's ’s positive Capital Account balance, a Member shall have no recourse against the Company or any other Member.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Time Warner Cable Information Services (Texas), LLC), Limited Liability Company Agreement (Charter Communications Inc /Mo/), Limited Liability Company Agreement (Charter Communications Inc /Mo/)

Limitations on Payments Made in Dissolution. Each Member shall only be entitled to look solely to at the assets of the Company for the return of such Member's its Capital Contributions and positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision balance and shall have no recourse for all debtsits Capital Contribution, liabilities, and obligations of the Company may be insufficient to return the positive Capital Contributions or Account balance and/or share of Net Profits reflected in such Member's positive Capital Account balance, a Member shall have no recourse (upon dissolution or otherwise) against the Company or any other Member.

Appears in 2 contracts

Samples: Operating Agreement (Bloomin' Brands, Inc.), Operating Agreement (Osi Restaurant Partners, LLC)

Limitations on Payments Made in Dissolution. Each Member shall be entitled to look solely to the assets of the Company for the return of such Member's ’s positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision for all debts, liabilities, and obligations of the Company may be insufficient to return the Capital Contributions or share of Net Profits net earnings reflected in such Member's ’s positive Capital Account balance, a Member shall have no recourse against the Company or any other Member.

Appears in 1 contract

Samples: Project Management Agreement (Pinnacle Entertainment Inc)

Limitations on Payments Made in Dissolution. Each Member shall be entitled to The Members may look solely to the assets of the Company for the return of such Member's positive their Capital Account balanceContributions and have no right or power to demand or receive property other than cash of the Company. Notwithstanding that If the assets of the Company remaining after payment or discharge of or due provision for all debts, liabilities, the debts and obligations liabilities of the Company may be are insufficient to return the Members’ Capital Contributions or share of Net Profits reflected in such Member's positive Capital Account balanceContributions, a Member shall the Members will have no recourse against the Company Company, any Manager or any other Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Vinco Ventures, Inc.)

Limitations on Payments Made in Dissolution. Each Member shall be entitled to look solely only to the Company’s assets of the Company for the return of such that Member's positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision for all debts, liabilities, and obligations of the Company may be insufficient to return the Capital Contributions or share of Net Profits reflected in such Member's ’s positive Capital Account balance, a Member and no Member, Manager, or Officer shall have no recourse against the Company or any other Memberpersonal liability therefor.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Kennedy-Wilson Properties (IL))

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Limitations on Payments Made in Dissolution. Each Member The Members shall be entitled to look solely to the assets of the Company for the return of such Member's positive their Capital Account balanceContributions and have no right or power to demand or receive property other than cash of the Company. Notwithstanding that If the assets of the Company remaining after payment or discharge of or due provision for all debts, liabilities, the debts and obligations liabilities of the Company may be are insufficient to return the Members’ Capital Contributions or share of Net Profits reflected in such Member's positive Capital Account balanceContributions, a Member the Members shall have no recourse against the Company Company, the Manager, or any other Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Wright Investors Service Holdings, Inc.)

Limitations on Payments Made in Dissolution. Each Member shall be entitled to look solely only to the assets of the Company for the return of such that Member's positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision for all debts, liabilities, and obligations of the Company may be insufficient to return the Capital Contributions or share of Net Profits reflected in such Member's ’s positive Capital Account balance, a and no Member or Manager shall have no recourse against the Company or any other Memberpersonal liability therefor.

Appears in 1 contract

Samples: Employment Agreement (Harbin Electric, Inc)

Limitations on Payments Made in Dissolution. Each Member shall only be entitled to look solely to at the assets of the Company for the return of such Member's its positive Capital Account balance. Notwithstanding that the assets of the Company remaining after payment of or due provision balance and shall have no recourse for all debts, liabilities, and obligations of the Company may be insufficient to return the its Capital Contributions or Contribution and/or share of Net Profits reflected in such Member's positive Capital Account balance, a Member shall have no recourse (upon dissolution or otherwise) against the Company Manager or any other Member.

Appears in 1 contract

Samples: Operating Agreement (Panera Bread Co)

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