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 be entitled to look only to the assets of the Company for Distributions (including Distributions in liquidation) and no Member, Manager or officer of the Company shall have any personal liability therefor.‌‌‌

Appears in 1 contract

Samples: Limited Liability Company Operating 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 only solely to the assets of the Company for Distributions (including Distributions in liquidation) distributions and no Member, Manager or officer of the Company shall have no recourse for such Member’s distributions (on dissolution or otherwise) against any personal liability therefor.‌‌‌other Member.

Appears in 1 contract

Samples: Operating Agreement (Bloom HoldCo LLC)

Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall be entitled to look only to the assets of the Company for Distributions (including Distributions in liquidation) and no Member, Manager or officer of the Company shall have any personal liability therefor.‌‌‌therefor.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Member shall be entitled to look only to the assets of the Company for Distributions (including Distributions in liquidation) and no Member, Manager or officer of the Company shall have any personal liability therefor.‌‌‌therefor.‌

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

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Limitations on Payments Made in Dissolution. Except as otherwise specifically provided in this Agreement, each Each Member shall be entitled to look only to the assets of the Company for Distributions (including Distributions in liquidation) distributions to be made to such Member upon the dissolution of the Company, and no Member, Manager or officer of the Company shall have any personal liability therefor.‌‌‌therefor.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Mr. Mango LLC)

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