Common use of Reliance on this Agreement Clause in Contracts

Reliance on this Agreement. To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating thereto to the Company or to the Members, any Covered Person acting under this Agreement or otherwise shall not be liable to the Company or to any Member for its good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the Members to replace such other duties and liabilities of such Covered Person.

Appears in 12 contracts

Samples: Limited Liability Company Agreement (Penske Automotive Group, Inc.), Limited Liability Company Agreement (Cinergy Corp), Limited Liability Company Agreement (Cinergy Corp)

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Reliance on this Agreement. To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating thereto to the Company Partnership or to the MembersPartners, any Covered Person acting under this Agreement or otherwise shall not be liable to the Company Partnership or to any Member Partner for its good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the Members Partners to replace such other duties and liabilities of such Covered Person.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Marsh & McLennan Companies Inc), Limited Partnership Agreement (Marsh & McLennan Companies Inc), Limited Partnership Agreement (Marsh & McLennan Companies Inc)

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Reliance on this Agreement. To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating thereto to the Company or to the Members, any Covered Person acting under this Agreement or otherwise shall not be liable to the Company or to any Member for its such Covered Person’s good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the Members to replace such other duties and liabilities of such Covered Person.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Education Realty Trust, Inc.)

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