Members Capital Contributions. The Members set out in this agreement have previously contributed capital amounts to the company which are described below. The Members may make additional voluntary contributions but are not obligated to do so: Member #1: , has made a capital contribution of (description and value). Member #2: , has made a capital contribution of (description and value). Member #3: , has made a capital contribution of (description and value). Member #4: , has made a capital contribution of (description and value). The aforementioned Members do not have the right or authority to withdraw and otherwise reduce their capital contribution to the Company until the Company has been dissolved unless otherwise stated in this operating agreement. Any liability of the Members which relate to the debt, liability, losses sustained, and obligations of the Company will be limited to the capital contributions the Members have made, the distributions that have been paid to the Members, and the Member’s share of undistributed assets of the Company. This liability will only extend as may be required by the relevant law(s).
Appears in 7 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Pennsylvania Limited Liability Company Operating Agreement
