Recourse for Claims Sample Clauses

Recourse for Claims. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company, such Member’s Capital Account, and such Member’s share of Net Income, Net Loss and other items of income, gain, loss and deduction, and shall have no recourse therefor (upon dissolution or otherwise) against the Liquidator or any other Member.
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Recourse for Claims. Each Member shall look solely to the assets of the Company for all Distributions with respect to the Company and shall have no recourse therefor (upon dissolution or otherwise) against any Manager, the Liquidator, or any other Member.
Sample 1Sample 2Sample 3See All (9)
Recourse for Claims. Each Shareholder shall look solely to the assets of the Company for all distributions with respect to the Company, and shall have no recourse therefor (upon dissolution or otherwise) against the Liquidator or any other Shareholder.
Sample 1Sample 2Sample 3See All (5)
Recourse for Claims. Each Partner shall look solely to the assets of the Partnership for all distributions with respect to the Partnership, such Partner’s Capital Account, and such Partner’s share of Net Income, Net Loss, and other items of income, gain, loss, and deduction, and shall have no recourse therefor (upon dissolution or otherwise) against the Liquidator or any other Partner.
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Recourse for Claims. EACH MEMBER SHALL LOOK SOLELY TO THE ASSETS OF THE COMPANY FOR THE RETURN OF THE MEMBER’S INVESTMENT, AND IF COMPANY PROPERTY REMAINING AFTER THE PAYMENT OR DISCHARGE OF THE COMPANY’S DEBTS AND LIABILITIES IS INSUFFICIENT TO RETURN THE INVESTMENT OF EACH MEMBER, THE MEMBER SHALL HAVE NO RECOURSE AGAINST ANY OTHER MEMBERS FOR INDEMNIFICATION, CONTRIBUTION, OR REIMBURSEMENT, EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT.
Sample 1
Recourse for Claims. Each Member and Transferee shall look solely to the assets of the Company for all distributions with respect to the Company, such Member or Transferee’s Capital Account, and such Member or Transferee’s share of income, gains, losses, deductions, and credits, and shall have no recourse therefor (upon dissolution or otherwise) against the Managers or any other Member or Transferee. No Member or Transferee (other than in its capacity as a creditor of the Company) shall have priority over any other Member and Transferee as to the return of Capital Contributions, distributions, or allocations.
Sample 1
Recourse for Claims. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company, such Member’s Capital Account, and such Member’s share of Net Income, Net Loss and other items of income...
Sample 1
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Related to Recourse for Claims

  • Non-Competition Obligations (a) Executive acknowledges and agrees that as an employee and representative of the Company, Executive will be responsible for building and maintaining business relationships and goodwill with current and future operating partners, investors, partners and prospects on a personal level. Executive acknowledges and agrees that this responsibility creates a special relationship of trust and confidence between the Company, Executive and these persons or entities. Executive also acknowledges that this creates a high risk and opportunity for Executive to misappropriate these relationships and the goodwill existing between the Company and such persons. Executive acknowledges and agrees that it is fair and reasonable for the Company to take steps to protect itself from the risk of such misappropriation.

  • Procedures Relating to Indemnification for Third Party Claims (a) In order for a party (the “indemnified party”) to be entitled to any indemnification provided for under this Agreement in respect of, arising out of or involving a claim or demand made by any person against the indemnified party (a “Third Party Claim”), such indemnified party must notify the indemnifying party in writing, and in reasonable detail, of the Third Party Claim within ten (10) business days after receipt by such indemnified party of written notice of the Third Party Claim; provided, however, that failure to give such notification shall not affect the indemnification provided hereunder except to the extent the indemnifying party shall have been prejudiced as a result of such failure (except that the indemnifying party shall not be liable for any expenses incurred during the period in which the indemnified party failed to give such notice). Thereafter, the indemnified party shall deliver to the indemnifying party, promptly after the indemnified party’s receipt thereof, copies of all notices and documents (including court papers) received by the indemnified party relating to the Third Party Claim.

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