No Deficit Restoration. If, upon liquidation, the Managing Member has a deficit balance in its capital account, after taking into account all capital account adjustments for the Company’s Fiscal Year during which liquidation occurs, neither the Managing Member nor the Special Member shall have any obligation to contribute cash to the capital of the Company to restore such deficit balance.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (BMW Fs Securities LLC), Limited Liability Company Agreement (Financial Services Vehicle Trust), Limited Liability Company Agreement (BMW Auto Leasing LLC)
No Deficit Restoration. If, upon liquidation, the Managing Member has a deficit balance in its capital account, after taking into account all capital account adjustments for the Company’s 's Fiscal Year during which liquidation occurs, neither the Managing Member nor the Special Member shall have any obligation to contribute cash to the capital of the Company to restore such deficit balance.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Franklin Auto Trust 1998 1), Limited Liability Company Agreement (BMW Vehicle Owner Trust 2006-A), BMW Vehicle Owner Trust 2001-A
No Deficit Restoration. If, upon liquidation, the Managing Member has a deficit balance in its capital account, after taking into account all capital account adjustments for the Company’s 's Fiscal Year during which liquidation occurs, neither the Managing Member nor the Special Bankruptcy Member shall have any obligation to contribute cash to the capital of the Company to restore such deficit balance.
Appears in 1 contract
Samples: Limited Liability Company Agreement (FCC Receivables Corp)
