Common use of Liability of Covered Persons Clause in Contracts

Liability of Covered Persons. Except as otherwise provided by the Act or this Agreement, no Covered Person shall be liable, responsible or otherwise accountable for damages to the Partnership or to any other Covered Person for any action taken or failure to act on behalf of the Partnership, unless such acts or omissions constituted bad faith, gross negligence, willful misconduct or actual fraud by such Covered Person, or a breach of such Covered Person’s duties, obligations or responsibilities pursuant to Section 5.4.1.

Liability of Covered Persons. (a) Except as otherwise expressly provided by the Act or this Agreementherein, no Covered Person shall be liable, responsible or otherwise accountable for damages liable to the Partnership or to any other Covered Person for any action taken Damages incurred by reason of any act or failure to act omission performed or omitted by such Covered Person in good faith on behalf of the Partnership, unless such acts or omissions constituted bad faith, gross negligence, willful misconduct or actual fraud by Partnership and in a manner reasonably believed to be within the scope of authority conferred on such Covered PersonPerson by this Agreement, or except that a breach Covered Person shall be liable for any such Damages incurred by reason of such Covered Person’s duties, obligations gross negligence or responsibilities pursuant to Section 5.4.1willful misconduct.

Liability of Covered Persons. Except as otherwise provided by the ---------------------------- Act or this Agreement, no Covered Person Persons shall not be liable, responsible or otherwise accountable for damages to the Partnership or to any other Covered Person Partner for any action taken or failure to act on behalf of the Partnership, unless such acts or omissions constituted bad faith, gross negligence, willful misconduct or actual fraud by such Covered Persongross negligence. Notwithstanding the foregoing, or a breach the liability of such Covered Person’s duties, each Limited Partner for the debts and obligations or responsibilities pursuant to Section 5.4.1of the Partnership shall be limited in the manner specified in the Act.