Common use of Liabilities of the General Partner Clause in Contracts

Liabilities of the General Partner. The General Partner shall ---------------------------------- not be liable, responsible or accountable, in damages or otherwise, to any other Partner or to the Partnership for any act or omission taken by such General Partner, except for its own gross negligence or willful misconduct, nor shall the General Partner be liable, responsible or accountable for the gross negligence or willful misconduct (including dishonesty or bad faith) of any employee, broker or other agent of the Partnership which the General Partner shall have selected with reasonable care. The General Partner shall be entitled to rely upon the advice of counsel and public accountants, and shall not be liable, responsible or accountable, in damages or otherwise, to any other Partner or to the Partnership, for any act or omission which he shall take in good faith in reliance on such advice.

Liabilities of the General Partner. The General Partner ---------------------------------- shall ---------------------------------- not be liable, responsible or accountable, in damages or otherwise, to any other Partner or to the Partnership for any act or omission taken by such General Partner, except for its own gross negligence or willful misconduct, nor shall the General Partner be liable, responsible or accountable for the gross negligence or willful misconduct (including dishonesty or bad faith) of any employee, broker or other agent of the Partnership which the General Partner shall have selected with reasonable care. The General Partner shall be entitled to rely upon the advice of counsel and public accountants, and shall not be liable, responsible or accountable, in damages or otherwise, to any other Partner or to the Partnership, for any act or omission which he shall take in good faith in reliance on such advice.

Liabilities of the General Partner. The General Partner ---------------------------------- shall ---------------------------------- not be liable, responsible or accountable, in damages or otherwise, to any other Partner or to the Partnership for any act or omission taken by such General Partner, except for its own gross negligence or willful misconduct, nor shall the General Partner P artner be liable, responsible or accountable for the gross negligence or willful misconduct (including dishonesty or bad faith) of any employee, broker or other agent of the Partnership which the General Partner shall have selected with reasonable care. The General Partner shall be entitled to rely upon the advice of counsel and public accountants, and shall not be liable, responsible responsible, or accountable, in damages or otherwise, to any other Partner or to the Partnership, for any act or omission which he shall take in good faith in reliance on such advice.