Liability for Certain Acts. The Managers shall perform their managerial duties in a manner they reasonably believe to be in the best interests of the Company. The Managers shall not have any liability by reason of being or having been Managers of the Company. The Managers shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Vector Tobacco Inc.), Limited Liability Company Agreement (Liggett Group LLC), Limited Liability Company Agreement (Accommodations Acquisition Corp)
Liability for Certain Acts. The Managers Manager shall perform their its managerial duties in a manner they it reasonably believe believes to be in the best interests of the Company. The Managers Manager shall not have any liability by reason of being or having been Managers the Manager of the Company. The Managers Manager shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vector Research LLC), Limited Liability Company Agreement (Vector Research LLC)
Liability for Certain Acts. The Managers Manager shall perform their managerial his duties in a manner they reasonably believe believed to be in the best interests of the CompanyCompany and with such care as an ordinarily prudent person in a like position would use under similar circumstances. The Managers Manager shall not have any liability to the Company or any Member by reason of being or having been Managers a Manager of the Company. The Managers Company unless the liability shall not be liable to have been the Company result of fraud, deceit, gross negligence, or to any Member for any loss or damage sustained willful misconduct by the Company or any MemberManager.
Appears in 1 contract
Samples: Operating Agreement
Liability for Certain Acts. The Managers shall perform their managerial its duties in good faith and with that degree of care that an ordinarily prudent person in a manner they reasonably believe to be in like position would use under similar circumstances. By doing so, the best interests of the Company. The Managers shall not have any liability by reason of being or having been Managers of the Company. The Managers shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Membera Manager.
Appears in 1 contract
