Common use of Return of Contribution Clause in Contracts

Return of Contribution. Except as provided by law, the Act or specifically set forth in this Agreement, upon dissolution each Member shall look solely to the assets of the Company for the return of its contribution. If the Company's assets remaining after the payment or discharge of the debts or liabilities of the Company are insufficient to return the contributions of one or more Members, such Member or Members shall have no recourse against any other Member.

Appears in 2 contracts

Samples: Operating Agreement (MartelInvest 1 LLC), Operating Agreement (MartelInvest 1 LLC)

AutoNDA by SimpleDocs

Return of Contribution. Except as provided by law, the Act or as specifically set forth in this Agreement, upon dissolution each dissolution, the Member shall look solely to the assets of the Company for the return of its contributionCapital Contribution. If the Company's ’s assets remaining after the payment or discharge of the debts or and liabilities of the Company are insufficient to return the contributions Capital Contributions of one or more Membersthe Member, such the Member or Members shall have no recourse against any other Memberthe Management Board.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Unistrut International Holdings, LLC)

AutoNDA by SimpleDocs

Return of Contribution. Except as provided by law, law or the Act or specifically set forth in this AgreementAct, upon dissolution dissolution, each Member shall look solely to the assets of the Company for the return of its contribution. If the Company's assets remaining after the payment or discharge of the debts or liabilities of the Company are insufficient to return the contributions of one or more Members, such Member or Members shall have no recourse against any the other Member.

Appears in 1 contract

Samples: Operating Agreement (Across America Real Estate Development Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.