Exculpation from Liability. (a) The Project Leader, shall have no liability whatsoever to the Partnership (including any NOARK Related Entity) or to any Partner for loss caused by any act or by failure to do any act if the loss suffered by the Partnership (including any NOARK Related Entity) or any Partner arises out of an action taken, or not taken, by the Project Leader in the course of the Partnership's (including any NOARK Related Entity) business in good faith and not contrary to the terms of this Agreement even if such action or failure to act constitutes negligence.
Exculpation from Liability. 28 6.3 Indemnification.......................................... 29 6.4 Title to Partnership Assets.............................. 30
Exculpation from Liability. The General Partner shall not have any liability whatsoever to the Partnership or to the Partners for loss caused by any act or by the failure to do any act if the loss suffered arises out of a good faith mistake in business judgment of the General Partner, or if the General Partner, in good faith, had determined that the action or lack of action giving rise to the loss was in the best interests of the Partnership or if the action or lack of action giving rise to the loss was based on the written advice of legal counsel regularly employed by the Partnership in connection with the affairs of the Partnership; provided, however, that such exculpation from liability shall not apply to any liability for loss caused by any act or by the failure to do any act which arises out of the fraud, gross negligence, willful misconduct or intentional violation of law by the General Partner. THE PARTNERS AND THE PARTNERSHIP RECOGNIZE THAT THIS PROVISION SHALL RELIEVE THE GENERAL PARTNER FROM ANY AND ALL LIABILITIES ARISING OR TO ARISE OUT OF ANY ORDINARY NEGLIGENCE BY THE GENERAL PARTNER.
Exculpation from Liability. Manager shall have no liability whatsoever to the Owner for loss caused by any act or by failure to do any act if the loss suffered by the Owner arises out of an action taken, or not taken, by the Manager in performing its obligations under this Agreement using reasonable business judgment; provided, however, that such exculpation from liability shall not apply to any liability for loss caused by any act or by the failure to do any act which arises out of the gross negligence or willful misconduct of Manager, its employees or agents.
Exculpation from Liability. 29 6.3 Indemnification.......................................... 30 6.4 Title to Partnership Assets.............................. 31 ARTICLE VII ASSIGNABILITY OF PARTNERS' INTERESTS........................... 32
Exculpation from Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR ANY OTHER PERSON FOR ANY DAMAGES FOR DIMINUTION IN VALUE OF THE AIRCRAFT, OR FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES OF ANY KIND OR NATURE, INCLUDING, BUT NOT LIMITED TO LOSS OF USE, REVENUE, OR PROFIT, BUSINESS OPPORTUNITIES AND THE LIKE, EVEN IF ANY PARTY KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITIES OF SUCH DAMAGES.
