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

Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall only be entitled to look solely to the assets of the Company for the return of its Initial Contribution and shall have no recourse for its Initial Contribution and/or share of profits (upon dissolution or otherwise) against any other Member, if any other such Member exists.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement

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Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall only be entitled to look solely to the assets of the Company for the return distribution of its Initial Contribution interests and no Member shall have no any recourse for its Initial Contribution his or her capital contributions and/or share of profits (upon dissolution or otherwise) Net Profits against any other Member, if any other such Member exists.

Appears in 1 contract

Samples: Operating Agreement (Kw 2012 C, LLC)

Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall only be entitled to look solely to at the assets of the Company for the return of its Initial Contribution distributions provided herein and shall have no recourse for its Initial Capital Contribution and/or share of profits Net Profits (upon dissolution or otherwise) against any other Member, if any other such Member existsexcept as provided in this Section 9.

Appears in 1 contract

Samples: Operating Agreement (SRS Labs Inc)

Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall only be entitled to look solely to at the assets of the Company for the return of its Initial Contribution the Member's capital contributions and shall have no recourse for its Initial Contribution and/or the Member's capital contribution or share of net profits (upon dissolution or otherwise) against the Managers or any other Member, if any other such Member exists.

Appears in 1 contract

Samples: Security Agreement

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Limitations on Payments Made in Dissolution. Except as otherwise ------------------------------------------- specifically provided in this Agreement, each Member shall only be entitled to look solely only to the assets of the Company for its share of the return of its Initial Contribution net profits and shall have no recourse for its Initial Contribution and/or share of profits (upon dissolution or otherwise) Net Profits against any other Member, if any other such Member exists.

Appears in 1 contract

Samples: Operating Agreement (National Earth Products Inc)

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