Common use of Exculpation of the General Partner Clause in Contracts

Exculpation of the General Partner. The General Partner will not be liable for any loss to the Partnership or the Limited Partners by reason of any act or failure to act unless the General Partner was guilty of willful misconduct or gross negligence.

Exculpation of the General Partner. The General Partner will shall not be liable to the Partnership or to the Limited Partner in damages or otherwise for any loss actions taken in good faith or reasonably believed by the General Partner to be in the best interests of the Partnership; provided, however, that the General Partner shall be liable to the Partnership for actions taken outside the Business Scope or for willful or wanton misconduct, fraud, gross negligence, material breach of any of its obligations under this Agreement (including the Performance Standard), or other breach of its fiduciary duties owed to the Partnership or the Limited Partners by reason of any act or failure to act unless the General Partner was guilty of willful misconduct or gross negligencePartner.

Exculpation of the General Partner. The General Partner will not be liable for any loss to the Partnership or the Limited Partners by reason of any act or failure to act of the General Partner unless the General Partner was guilty of willful misconduct or gross negligence.