Common use of Return of Distributions of Capital Clause in Contracts

Return of Distributions of Capital. Except as otherwise expressly required by law, the Member, in its capacity as such, shall have no liability either to the Company or any of its creditors in excess of (a) the amount of its Capital Contributions actually made, (b) its share of any assets and undistributed profits of the Company, (c) its obligation to make a Capital Contribution pursuant to Section 3.2 and (d) to the extent required by law, the amount of any distributions wrongfully distributed to it. Except as required by law or a court of competent jurisdiction, no Member or investor in or partner of a Member shall be obligated by this Agreement to return any Distribution to the Company or pay the amount of any Distribution for the account of the Company or to any creditor of the Company. The amount of any Distribution returned to the Company by or on behalf of the Member or paid by or on behalf of the Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.

Appears in 6 contracts

Samples: Operating Agreement (Simmons Co /Ga/), Limited Liability Company Agreement (Simmons Co /Ga/), Limited Liability Company Agreement (Simmons Co /Ga/)

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Return of Distributions of Capital. Except as otherwise expressly required by law, the no Member, in its capacity as such, shall have no any liability either to the Company or any of its creditors in excess of (a) in the amount case of the Original Member, its Capital Contributions actually obligation to make a capital contribution pursuant to Section 3.2, if not previously made, (b) its share of any assets and undistributed profits of the Company, Company and (c) its obligation to make a Capital Contribution pursuant to Section 3.2 and (d) to the extent required by law, the amount of any distributions Distributions wrongfully distributed to it. Except as required by law or a court of competent jurisdiction, no Member or investor in or partner of a Member shall be obligated by this Agreement to return any Distribution to the Company or pay the amount of any Distribution for the account of the Company or to any creditor of the Company. The amount of any Distribution returned to the Company by or on behalf of the a Member or paid by or on behalf of the a Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the such Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Robec Brazil LLC), Limited Liability Company Agreement (Xerium Technologies LTD)

Return of Distributions of Capital. Except as otherwise expressly required by law, the Member, in its capacity as such, shall have no liability either to the Company or any of its creditors in excess of (a) the amount of its Capital Contributions actually made, (b) its share obligation to make a capital contribution pursuant to Section 3.2, (c) of any assets and undistributed profits of the Company, (c) its obligation to make a Capital Contribution pursuant to Section 3.2 Company and (d) to the extent required by law, the amount of any distributions wrongfully distributed to it. Except as required by law or a court of competent jurisdiction, no Member or investor in or partner of a Member shall be obligated by this Agreement to return any Distribution to the Company or pay the amount of any Distribution for the account of the Company or to any creditor of the Company. The amount of any Distribution returned to the Company by or on behalf of the Member or paid by or on behalf of the Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Am-Source, LLC), Limited Liability Company Agreement (Axcan Intermediate Holdings Inc.)

Return of Distributions of Capital. Except as otherwise expressly required by law, the Member, in its capacity as such, shall have no liability either to the Company or any of its creditors in excess of (a) the amount of its Capital Contributions actually made, (b) its share obligation to make a capital contribution pursuant to Section 5.2, (c) of any assets and undistributed profits of the Company, (c) its obligation to make a Capital Contribution pursuant to Section 3.2 Company and (d) to the extent required by law, the amount of any distributions wrongfully distributed to it. Except as required by law or a court of competent jurisdiction, no Member or investor in or partner of a Member shall be obligated by this Agreement to return any Distribution to the Company or pay the amount of any Distribution for the account of the Company or to any creditor of the Company. The amount of any Distribution returned to the Company by or on behalf of the Member or paid by or on behalf of the Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (HCF Acquisition LLC)

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Return of Distributions of Capital. Except as otherwise expressly required by law, the Member, in its capacity as such, shall have no liability either to the Company or any of its creditors in excess of (a) the amount of its Capital Contributions actually made, (b) its share obligation to make a capital contribution, if any, pursuant to Section 10, (c) of any assets and undistributed profits of the Company, (c) its obligation to make a Capital Contribution pursuant to Section 3.2 Company and (d) to the extent required by law, the amount of any distributions wrongfully distributed to it. Except as required by law or a court of competent jurisdiction, no Member or investor in or partner of a Member shall be obligated by this Agreement to return any Distribution distribution to the Company or pay the amount of any Distribution distribution for the account of the Company or to any creditor of the Company. The amount of any Distribution distribution returned to the Company by or on behalf of the Member or paid by or on behalf of the Member for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Carrabba's/Colorado-I, Limited Partnership)

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