Liability for Certain Acts. The Managers shall perform their managerial duties in a manner they reasonably believe to be in the best interests of the Company. The Managers shall not have any liability by reason of being or having been Managers of the Company. The Managers shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Vector Tobacco Inc.), Limited Liability Company Agreement (Vector Research LLC), Liability Company Agreement (Liggett Group LLC)
Liability for Certain Acts. The Managers Manager shall perform their its managerial duties in a manner they it reasonably believe believes to be in the best interests of the Company. The Managers Manager shall not have any liability by reason of being or having been Managers the Manager of the Company. The Managers Manager shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vector Research LLC), Limited Liability Company Agreement (Vector Research LLC)
Liability for Certain Acts. The Managers Manager shall perform their his managerial duties in good faith and in a manner they reasonably believe he believes to be in the best interests of the Company. The Managers A Manager who so performs the duties of a Manager shall not have any liability by reason of being or having been Managers a Manager of the Company. The Managers A Manager does not, in any way, guarantee the return of the Member's capital contributions or a profit for the Member from the operations of the Company. A Manager shall not be liable to the Company or to any the Member for any loss or damage sustained by the Company or any Member., except for:
Appears in 2 contracts
Samples: Operating Agreement (Majestic Investor Capital Corp), Operating Agreement (Majestic Star Casino LLC)
Liability for Certain Acts. The Managers shall perform their managerial its duties in good faith and with that degree of care that an ordinarily prudent person in a manner they reasonably believe to be in like position would use under similar circumstances. By doing so, the best interests of the Company. The Managers shall not have any liability by reason of being or having been Managers of the Company. The Managers shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Membera Manager.
Appears in 1 contract
