Common use of Liability of Authorized Officers Clause in Contracts

Liability of Authorized Officers. No Authorized Officer shall be personally liable to MART or the Beneficial Owner for any breach of its duties as an Authorized Officer; provided, however, that the foregoing shall not eliminate or limit the liability of an Authorized Officer of MART for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law.

Liability of Authorized Officers. No Authorized Officer shall be personally liable to MART II or the Beneficial Owner for any breach of its duties as an Authorized Officer; provided, however, that the foregoing shall not eliminate or limit the liability of an Authorized Officer of MART II for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law.