Indemnity of the Managers and Other Agents Sample Clauses

Indemnity of the Managers and Other Agents. (a) The Partnership shall indemnify each Manager and their Affiliates (each, an “Indemnified Person”) for any loss in connection with the activities of such Indemnified Person (other than solely in the capacity as a Partner, if applicable) in connection with the establishment, management or operations of the Partnership and make advances for expenses to the maximum extent permitted, except to the extent the claim for which indemnification is sought results from an act or omission for which the Indemnified Person is held liable to the Partnership or to a Partner. The indemnification shall in no event cause the Partners to incur any liability beyond their total Capital Contributions plus their share of any undistributed profits of the Partnership, nor shall it result in any liability of the Partners to any third party. The Partnership may indemnify its employees and other agents who are not Managers of the Partnership to the fullest extent permitted by law, provided that such indemnification in any given situation is Approved by Partners unanimously.
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Related to Indemnity of the Managers and Other Agents

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