Common use of Liability of General Partner to Limited Partners Clause in Contracts

Liability of General Partner to Limited Partners. The General Partner shall not be liable, responsible or accountable in damages or otherwise to any Limited Partner for any act performed by it within the scope of the authority conferred on it by this Agreement, except for acts of malfeasance or gross negligence.

Liability of General Partner to Limited Partners. The General Partner Partner, its representatives, employees, and agents shall not be liableliable to the Partnership or to the Limited Partners for losses sustained or liabilities incurred as a result of any error in judgment or mistake of law or fact, responsible including simple negligence, or accountable in damages or otherwise to any Limited Partner for any act done or omitted to be done in good faith in conducting the Partnership business, unless the error, mistake, act, or omission was performed by it within the scope of the authority conferred on it by this Agreement, except for acts of malfeasance or omitted fraudulently or constituted gross negligencenegligence or willful misconduct.