Common use of Limited Liability of Members Clause in Contracts

Limited Liability of Members. No Member in its capacity as a Member shall be liable for any debts, obligations or liabilities of the Company. Neither the Managing Member nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company shall have any liability for the debts, obligations or liabilities of the Company solely by reason of being a Managing Member, Officer or “authorized person”, as the case may be, except to the extent provided in the Act.

Limited Liability of Members. No Member in its capacity as a Member shall be liable for any debts, obligations or liabilities of the Company. Neither the Managing Member Directors nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company shall have any liability for the debts, obligations or liabilities of the Company solely by reason of being a Managing MemberDirector, Officer or “authorized person”, as the case may be, except to the extent provided in the Act.

Limited Liability of Members. No Member in its capacity as a Member shall be liable obligated individually for any debtsdebt, obligations obligation or liabilities liability of the Company. Neither the Managing Member nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company shall have any liability for the debtswhether arising in contract, obligations tort or liabilities of the Company solely otherwise, by reason of being a Managing Member, Officer . The failure of the Company to observe any formalities or “authorized person”, as the case may be, except requirements relating to the extent provided in exercise of its powers or management of its business or affairs under this Agreement or the ActAct shall not be grounds for imposing individual liability on the Members for liabilities of the Company.