Members Liability. The liability of each Member shall be limited to the amount of capital contributions that each Member shall make in accordance with the provisions of this Agreement. Except as provided for herein, none of the members has any further personal obligation to contribute money for or in relation to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the Company.
Appears in 1 contract
Sources: S Corporation Operating Agreement
Members Liability. The Except as otherwise provided in this Agreement, the liability of each a Member, solely as Member, for any obligations, debts or liabilities incurred by the Company (as opposed to such Member directly on its own behalf in its individual capacity) shall be limited to the aggregate amount of the capital contributions that each such Member shall has made or is obligated to make in accordance with to the Company under the terms and provisions of this Agreement. Except as provided for herein, none of the members has any further personal obligation to contribute money for or in relation to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Reckson Services Industries Inc)
Members Liability. The Except as otherwise expressly provided in this Agreement, the liability of each a Member, solely as Member, for any obligations, debts or liabilities incurred by the Company (as opposed to such Member directly on its own behalf in its individual capacity) shall be limited to the aggregate amount of capital contributions the Capital Contributions that each such Member shall has made or is obligated to make in accordance with to the Company under the terms and provisions of this Agreement. Except as provided for herein, none of the members has any further personal obligation to contribute money for or in relation to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Superconductor Technologies Inc)
Members Liability. The Except as otherwise provided in this Agreement, the liability of each Member the Members, as such, shall be limited to the amount of capital contributions that each Member shall make in accordance with the provisions of this Agreement. Except as provided for herein, none of the members has any further personal obligation to contribute money for or in relation Members have made to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the Company.
Appears in 1 contract
Sources: Operating Agreement (American Interactive Media Inc)
Members Liability. The liability of each Member the Member, as such, shall be limited to the amount of capital contributions that each Member shall make in accordance with the it has made. The provisions of this Agreement. Except as provided Agreement are not intended to be for hereinthe benefit of any creditor or other person to whom any debts, none of the members liabilities, or obligations are owed by (or who otherwise has any further personal claim against) the Company or the Member; and no such creditor or other person shall obtain any benefit from such provisions or shall, by reason of any such foregoing provision, make any claim in respect of any debt, liability, or obligation to contribute money for against the company or in relation to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the CompanyMember.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Stratosphere Leasing, LLC)
Members Liability. The Except as otherwise provided in this Agreement, the liability of each Member a Member, solely as Member, for any obligations, debts or liabilities incurred by the Company shall be limited to the aggregate amount of the capital contributions that each such Member shall has made or is obligated to make in accordance with the provisions of this Agreement. Except as provided for herein, none of the members has any further personal obligation to contribute money for or in relation to the Company's liabilities or obligations, nor are the members personally liable for any obligations of the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Reckson Services Industries Inc)