Liabilities of Partners Sample Clauses

Liabilities of Partners. (a) Pursuant to the Delaware Act, the General Partners are liable jointly and severally for all liabilities and obligations of the Partnership. Notwithstanding the foregoing, as among themselves, the General Partners hereby agree that each shall be solely and individually responsible only for his pro rata share (based on Capital Contributions made) of the liabilities and obligations of the Partnership, and any General Partner who incurs liability in excess of his pro rata share shall be entitled to contribution from the other General Partners. Pursuant hereto, the Managing Partner further agrees to indemnify each General Partner for any and all Partnership-related obligations and liabilities otherwise allocable to or paid by such General Partner which are in excess of such General Partner’s share of the Partnership’s undistributed assets. Under no circumstances shall any Partner be required to indemnify the Managing Partner, except to the extent of such Partner’s (i) Capital Contribution and (ii) share of Partnership assets.
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Liabilities of Partners. Except as specifically provided in this Agreement, Partners shall not be required to make any contributions to the Partnership and no Partner shall be liable for the debts, liabilities, contracts, or any other obligations of the Partnership except with regard to their Capital Contributions as indicated herein, nor shall the Partners be required to lend any funds to the Partnership or to repay to the Partnership, any Partner, or any creditor of the Partnership any portion or all of any deficit balance in a Partner’s Capital Account.
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Liabilities of Partners. (a) Neither the General Partners nor any of their trustees, directors, officers, employees or agents shall be liable to the Partnership or to any other Partner for any actions or omissions to act taken in good faith and reasonably believed to be in the best interests of the Partnership, but shall be liable for bad faith, willful misconduct, fraud, or gross negligence. A General Partner shall remain liable for the obligations of the Partnership incurred or arising out of its operations while it was a General Partner, but not for obligations arising thereafter.
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Liabilities of Partners. Every contract, deed of trust, note, lease, sublease, or other agreement of any kind entered into by the Partnership shall contain a provision limiting the claims of all third parties to the assets of the Partnership and expressly waiving all rights in such third parties to proceed against the Partners, or the officers, directors or shareholders of any corporate Partner, except to the extent of their interest in the Partnership.
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Liabilities of Partners. (a) None of the General Partners nor any of their trustees, directors, officers, employees or agents shall be liable to the Partnership or to any other Partner for any actions or omissions to act taken in good faith and reasonably believed to be in the best interests of the Partnership, but shall be liable for bad faith, willful misconduct, fraud, or gross negligence, provided that, no individual trustee, director, officer, employee or agent of a General Partner shall be liable to the Partnership or any Partner except for his or her own fraud.. A General Partner shall remain liable for the obligations of the Partnership incurred or arising out of its operations while it was a General Partner, but not for obligations arising thereafter.
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Liabilities of Partners. If the Tenant is a partnership then by their signature of this Lease, the individual partners of the Tenant bind themselves, both as a partnership and jointly and severally as individuals, for the Tenant's obligations to the Landlord under and arising out of this Lease. Similarly, joint Tenants shall be jointly and severally liable for their obligations as Tenants under or arising from this Lease.
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Liabilities of Partners. Except as specifically provided in this Agreement, no Partner shall be (i) required to make any additional contributions to the Partnership, (ii) liable for the debts, liabilities, contracts, or any other obligations of the Partnership (except that the General Partner's liability shall be determined in accordance with the law of the State of New York), (iii) required to lend any funds to the Partnership, or (iv) required to repay to the Partnership, any other Partner, any creditor of the Partnership or any other person, any deficit balance in the Partner's Capital Account.
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Liabilities of Partners 
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Related to Liabilities of Partners

  • Liabilities of the Company Except as stated in this Section 8, the Company shall have no liability for damages of any kind arising out of or related to events, acts, rights or privileges contemplated in this Agreement.

  • RESPONSIBILITIES OF PARTIES A. BellSouth will include billing number information associated with resold exchange lines or SPNP arrangements in its LIDB. <<customer_name>> will request any toll billing exceptions via the Local Service Request (LSR) form used to order resold exchange lines, or the SPNP service request form used to order SPNP arrangements.

  • Liabilities of the Adviser A. In the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of obligations or duties hereunder on the part of the Adviser, the Adviser shall not be subject to liability to the Trust or the Fund or to any shareholder of the Fund for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security by the Fund.

  • LIABILITIES OF THE PARTIES 4.1 For non-performance or improper performance of the obligations under this Agreement, the parties shall be liable in accordance with the current legislation of the Russian Federation.

  • Liabilities of the Manager A. In the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of obligations or duties hereunder on the part of the Manager, the Manager shall not be subject to liability to the Trust or the Fund or to any shareholder of the Fund for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security by the Fund.

  • Organizational Expenses; Liabilities of the Holders (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.

  • Outside Activities of the Limited Partners Subject to the provisions of Section 7.5, which shall continue to be applicable to the Persons referred to therein, regardless of whether such Persons shall also be Limited Partners, any Limited Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities in direct competition with the Partnership Group. Neither the Partnership nor any of the other Partners shall have any rights by virtue of this Agreement in any business ventures of any Limited Partner.

  • Responsibilities of the Company 3.3.1 The Company shall provide participants of CopyTrade with a complete package of services according to the Customer Agreement. The Company is liable for proper performance of technological solutions according to the Customer Agreement.

  • Outside Activities of Limited Partners Subject to any agreements entered into by a Limited Partner or its Affiliates with the General Partner, Partnership or a Subsidiary, any Limited Partner and any officer, director, employee, agent, trustee, Affiliate or stockholder of any Limited Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities in direct competition with the Partnership or that are enhanced by the activities of the Partnership. Neither the Partnership nor any Partners shall have any rights by virtue of this Agreement in any business ventures of any Limited Partner or Assignee. Subject to such agreements, none of the Limited Partners nor any other Person shall have any rights by virtue of this Agreement or the partnership relationship established hereby in any business ventures of any other Person, other than the Limited Partners benefiting from the business conducted by the General Partner, and such Person shall have no obligation pursuant to this Agreement to offer any interest in any such business ventures to the Partnership, any Limited Partner or any such other Person, even if such opportunity is of a character which, if presented to the Partnership, any Limited Partner or such other Person, could be taken by such Person.

  • Responsibilities of the District 12.1. The District shall examine the documents submitted by the Architect and shall render decisions so as to avoid unreasonable delay in the process of the Architect’s Services.

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