Common use of Liability of Managers Clause in Contracts

Liability of Managers. To the fullest extent permitted by Applicable Law, no Manager will be personally liable to the Member or any other Person bound by this Agreement for any breach of its duties as a Manager, except for acts or omissions which involve intentional misconduct, gross negligence or a knowing violation of the law.

Liability of Managers. To the fullest extent permitted by Applicable Law, no Manager Person will be personally liable to the Member or any other Person bound by this Agreement Holder for any breach of its duties as a Manager, except for acts or omissions which involve intentional misconduct, gross negligence or a knowing violation of the law.

Liability of Managers. To the fullest extent permitted by Applicable Lawallowable under the Act, the Managers shall have no Manager will be personally liable personal liability to the Company or its Member for damages for any action that each such Manager takes or any other Person bound fails to take as a Manager unless it is proved, by clear and convincing evidence, in a court of competent jurisdiction that his action or failure to act involved an act or omission constituting gross negligence, willful misconduct or the breach of a higher standard of conduct that would result in greater exposure to liability for the Manager as such standard is established by the Articles of Organization of the Company or by this Agreement for any breach of its duties as a Manager, except for acts or omissions which involve intentional misconduct, gross negligence or a knowing violation of the lawAgreement.

Liability of Managers. To the fullest extent permitted by Applicable Law, no Manager Person will be personally liable to the Member or any other Person bound by this Agreement for any breach of its duties as a Manager, except for acts or omissions which involve intentional misconduct, gross negligence or a knowing violation of the law.

Liability of Managers. To the fullest extent permitted by Applicable Lawallowable under the Act, the Managers shall have no Manager will be personally liable personal liability to the Company or its Member or any other Person bound by this Agreement for damages for any breach of its duties action that each such Manager takes or fails to take as a ManagerManager unless it is proved, except by clear and convincing evidence, in a court of competent jurisdiction that his action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to the Company or was undertaken with reckless disregard for acts or omissions which involve intentional misconduct, gross negligence or a knowing violation the best interests of the lawCompany.