Common use of Duties and Liabilities of Covered Persons Clause in Contracts

Duties and Liabilities of Covered Persons. No Covered Person shall be liable or accountable in damages or otherwise to the Company or to any Member for any loss or liability arising out of any act or omission on behalf of the Company taken or omitted by such Covered Person, so long as such act or omission did not constitute Disabling Conduct.

Duties and Liabilities of Covered Persons. No Covered Person shall be liable or accountable in damages or otherwise to the Company or to any Member Stockholder for any loss or liability arising out of any act or omission on behalf of the Company taken or omitted by such Covered Person, so long as such act or omission did not constitute Disabling Conduct. Nothing in this Article III be construed to exculpate or indemnify any Covered Person for the breach by a Covered Person of any obligation binding upon such Covered Person in favor of the Company or any Stockholder.

Duties and Liabilities of Covered Persons. No Covered Person shall be liable or accountable in damages or otherwise to the Company or to any Member for any loss or liability arising out of any act or omission on behalf of in connection with the Company taken or omitted by such Covered Person, so long as such act or omission did not constitute Disabling ConductPerson in good faith reliance on the provisions of this Agreement.