Common use of Return of Contribution Nonrecourse to Other Members Clause in Contracts

Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution of the Company each Unitholder shall look solely to the assets of the Company for the return of such Unitholder’s Capital Contribution. If the property remaining after the payment or discharge of liabilities of the Company is insufficient to return the Capital Contributions of Members, no Unitholder will have recourse against any other Unitholder so long as the assets of the Company have been distributed in accordance with this Section 13.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Zabala Farms Group, LLC)

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Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Operating Agreement, upon dissolution of the Company dissolution, each Unitholder Unit holder shall look solely to the assets of the Company for the return of such Unitholder’s its Capital Contribution. If the property remaining after the payment or discharge of liabilities of the Company is insufficient to return the Capital Contributions of Members, no Unitholder will have recourse against any other Unitholder so long as the assets of the Company have been distributed in accordance with this Section 13.

Appears in 1 contract

Samples: Operating Agreement (Ryan's Restaurant Leasing Company, LLC)

Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution of the Company dissolution, each Unitholder Unit Holder shall look solely to the assets of the Company for the return of such Unitholder’s his, her or its Capital Contribution. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Contributions contributions of Membersone or more Unit Holders, such Unit Holders shall have no Unitholder will have recourse against any other Unitholder so long Member, except as the assets of the Company have been distributed in accordance with this Section 13otherwise provided by law.

Appears in 1 contract

Samples: Limited Liability Company Agreement

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Return of Contribution Nonrecourse to Other Members. Except as provided by law or as expressly provided in this Agreement, upon dissolution of the Company each Unitholder Unit Holder shall look solely to the assets of the Company for the return of such Unitholder’s its Capital Contribution. If the property remaining after the payment or discharge of liabilities of the Company is insufficient to return the Capital Contributions contributions of Members, no Unitholder will Unit Holder shall have recourse against any other Unitholder so long as the assets of the Company have been distributed in accordance with this Section 13Unit Holder.

Appears in 1 contract

Samples: Limited Liability Company Agreement

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