Common use of Duties of Managers Clause in Contracts

Duties of Managers. Each Manager shall owe duties of care and loyalty to the Company and the Member. A Manager shall not be personally liable to the Company or the Member for monetary damages for breach of fiduciary duty as a Manager except (a) for any breach of the Manager's duty of loyalty to the Company or the Member; (b) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; or (c) for any transaction from which such Manager derived an improper personal benefit.

Duties of Managers. Each Manager (as defined in ------------------ Article II) shall owe duties of care and loyalty to the Company and the MemberMembers. A Manager shall not be personally liable to the Company or the Member Members for monetary damages for breach of fiduciary duty as a Manager except (a) for any breach of the Manager's duty of loyalty to the Company or the MemberMembers; (b) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; or (c) for any transaction from which such Manager derived an improper personal benefit.

Duties of Managers. Each Manager shall owe duties of care and loyalty to the Company and the MemberMembers. A Manager shall not be personally liable to the Company or the Member Members for monetary damages for breach of fiduciary duty as a Manager except (a) for any breach of the Manager's duty of loyalty to the Company or the MemberMembers; (b) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; or (c) for any transaction from which such Manager derived an improper personal benefit.