Common use of Extent of Liability Clause in Contracts

Extent of Liability. Except as otherwise described in the Act, neither the Limited Partners nor the Special Limited Partner shall be liable for any debts, liabilities, contracts or any other obligations of the Partnership. Except as otherwise described in the Act or this Agreement, each of the Limited Partners and the Special Limited Partner has no liability in excess its share of the Partnership’s assets and undistributed profits. Neither the Limited Partners nor the Special Limited Partner shall be required to lend any funds to the Partnership or to pay to the Partnership, any Partner or any creditor of the Partnership any portion or all of any negative balance of such Limited Partner’s or Special Limited Partner’s Capital Account. No Representative shall be liable for any losses sustained or liabilities incurred as a result of any act or omission of such Representative.

Extent of Liability. Except as otherwise described in the Act, neither the Limited Partners nor the Special Limited Partner shall be liable for any debts, liabilities, contracts or any other obligations of the Partnership. Except as otherwise described in the Act or this Agreement, each of the Limited Partners and the Special Limited Partner has no liability in excess its share of the Partnership’s assets and undistributed profits. Neither the Limited Partners nor the Special Limited Partner shall be required to lend any funds to the Partnership or to pay to the Partnership, any Partner or any creditor of the Partnership any portion or all of any negative balance of such Limited Partner’s or Special Limited Partner’s Capital Account. No Representative shall be liable for any losses sustained or liabilities incurred as a result of any act or omission of such Representative.. ​

Extent of Liability. Except as otherwise described in the Act, neither the Limited Partners nor the Special Limited Partner shall be liable for any debts, liabilities, contracts or any other obligations of the Partnership. Except as otherwise described in the Act or this Agreement, each of the Limited Partners and the Special Limited Partner has no liability in excess its share of the Partnership’s assets and undistributed profits. Neither the Limited Partners nor the Special Limited Partner shall be required to lend any funds to the Partnership or to pay to the Partnership, any Partner or any creditor of the Partnership any portion or all of any negative balance of such Limited Partner’s or Special Limited Partner’s Capital Account. No Representative shall be liable for any losses sustained or liabilities incurred as a result of any act or omission of such Representative.. ​ ​