Common use of Liability for Certain Acts Clause in Contracts

Liability for Certain Acts. The Manager shall not be liable to the Company or any Member or officer for monetary damages for any losses, claims, damages or liabilities arising from any act or omission performed or omitted by him or her arising out of or in connection with this Agreement or the Company’s business or affairs, except any losses, claims, damages or liabilities primarily attributable to the gross negligence, willful misconduct or bad faith by the Manager.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Cig Wireless Corp.), Limited Liability Company Agreement (Grant Park Futures Fund Limited Partnership)

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Liability for Certain Acts. The No Manager shall not be liable to the Company or any to a Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from any act damage sustained by the Company or omission performed a Member (or omitted by him or her arising out of or in connection with this Agreement or the Company’s business or affairssuccessor thereto), except any losses, claims, damages or liabilities primarily attributable to the extent, if any, that the loss or damage shall have been the result of gross negligence, fraud, deceit, willful misconduct misconduct, or bad faith by the Managerbreach of this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Sligo Partners LLC), Operating Agreement (Sligo Partners LLC)

Liability for Certain Acts. The Manager shall not be liable to the Company or any to the Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from any act or omission performed or omitted damage sustained by him or her arising out of or in connection with this Agreement the Company or the Company’s business Member (or affairssuccessor thereto), except any losses, claims, damages or liabilities primarily attributable to the extent, if any, that the loss or damage shall have been the result of gross negligence, fraud, deceit, willful misconduct misconduct, or bad faith by the Managerbreach of this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Capitalsource Holdings LLC), Operating Agreement (Capitalsource Holdings LLC)

Liability for Certain Acts. The No Manager or Officer shall not be liable to the Company or any to the Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from any act or omission performed or omitted damage sustained by him or her arising out of or in connection with this Agreement the Company or the Company’s business or affairsMember, except any losses, claims, damages or liabilities primarily attributable to the extent, if any, that the loss or damage shall have been the result of gross negligence, fraud, deceit, willful misconduct misconduct, or bad faith willful breach of this Agreement by the Managersuch Manager or Officer.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Northrop Grumman Corp /De/), Limited Liability Company Agreement (Northrop Grumman Corp /De/)

Liability for Certain Acts. The No Manager shall not be liable to the Company or to any Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from damage sustained by the Company or any act Member (or omission performed or omitted by him or her arising out of or in connection with this Agreement or the Company’s business or affairssuccessor thereto), except any losses, claims, damages or liabilities primarily attributable to the extent, if any, that the loss or damage shall have been the result of gross negligence, fraud, deceit, willful misconduct misconduct, or bad faith by the Managerbreach of this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Pacific Partners LLC)

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Liability for Certain Acts. The Manager Managers shall not be liable to the Company or to any Member or officer for monetary damages Assignee for any lossesloss or damage sustained by the Company or any Member or Assignee, claimsunless the loss or damage shall have been the result of fraud, damages or liabilities arising from any act or omission performed or omitted by him or her arising out of or in connection with this Agreement or the Company’s business or affairsdeceit, except any losses, claims, damages or liabilities primarily attributable to the gross negligence, willful misconduct misconduct, breach of this Operating Agreement or bad faith a wrongful taking by the Manager.

Appears in 1 contract

Samples: Operating Agreement (Tb Woods Corp)

Liability for Certain Acts. The No Manager shall not be liable to the Company or any the Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from any act or omission performed or omitted damage sustained by him or her arising out of or in connection with this Agreement the Company or the Company’s business Member, unless the loss or affairsdamage shall have been the result of fraud, except any lossesdeceit, claims, damages or liabilities primarily attributable to the gross negligence, willful misconduct misconduct, breach of this Agreement or bad faith a wrongful taking by the Manager.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tronox Pigments Australia Holdings Pty LTD)

Liability for Certain Acts. The No Manager shall not be liable to the Company or any the Member or officer for monetary damages for any losses, claims, damages loss or liabilities arising from any act or omission performed or omitted damage sustained by him or her arising out of or in connection with this Agreement the Company or the Company’s business Members, unless the loss or affairsdamage is the result of fraud, except any lossesdeceit, claims, damages or liabilities primarily attributable to the gross negligence, willful misconduct misconduct, breach of this Agreement or bad faith a wrongful taking by the Manager.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Triple S Minerals Resources Corp)

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