Liability of General Partner. The General Partner is not liable, responsible, or accountable in damages or otherwise to the Limited Partner or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreement. The General Partner is liable to the Limited Partner only for conduct that involves gross negligence, bad faith, or fraud.
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Samples: Limited Partnership Agreement (Barnett Shale Operating LLC), Limited Partnership Agreement (Barnett Shale Operating LLC), Limited Partnership Agreement (Tandy Holdings, Inc.)
Liability of General Partner. The General Partner is will not liable, responsible, or accountable in damages or otherwise be liable to the any Limited Partner or the Partnership for any act performed by the or omission taken or omitted as General Partner with respect to the Partnership which is not in good faith and within violation of the scope provisions of this Agreement. The , or for any act or omission taken or omitted by any member, shareholder, director, officer, affiliate, employee or agent of the General Partner is liable to Partner, except in the Limited Partner only for conduct that involves case of the General Partner's (or such other person's) own willful, wanton or intentional misconduct, malfeasance or gross negligence, bad faith, or fraud.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Divine Interventures Inc), Limited Partnership Agreement (Divine Interventures Inc), Limited Partnership Agreement (Divine Interventures Inc)
Liability of General Partner. The General Partner is will not liable, responsible, or accountable in damages or otherwise be liable to the any Limited Partner or the Partnership for any act performed by the or omission taken or omitted as General Partner with respect to the Partnership which is not in good faith and within violation of the scope provisions of this Agreement. The , or for any act or omission taken or omitted by any shareholder, director, officer, affiliate, employee or agent of the General Partner is liable to Partner, except in the Limited Partner only for conduct that involves case of the General Partner's (or such other person's) own willful, wanton or intentional misconduct, malfeasance or gross negligence, bad faith, or fraud.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Divine Interventures Inc), Limited Partnership Agreement (Divine Interventures Inc)
Liability of General Partner. The General Partner is not liable, responsible, or accountable in damages or otherwise to the Limited Partner Partners or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreement. The General Partner is liable to the Limited Partner Partners only for conduct that involves gross negligence, bad faith, or fraud.
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Liability of General Partner. The General Partner is not liable, responsible, shall have no liability to the Partnership or accountable in damages or otherwise to the Limited Partner for any mistakes or the Partnership errors in judgment or for any act performed by or omission which the General Partner believes in good faith and to be within the scope of this Agreement. The authority conferred upon the General Partner is liable to the Limited Partner only for conduct that involves gross negligenceby this Agreement (except acts or omissions involving willful misconduct, bad faithfraud, or fraudgross negligence as the General Partner) if the General Partner discharges the General Partner’s duties in compliance with the Act.
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Liability of General Partner. The General Partner is not liable, responsible, responsible or accountable in damages or otherwise to the Limited Partner Partners or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreementagreement. The General Partner is liable to the Limited Partner Partners only for conduct that involves gross negligence, bad faith, faith or fraud.
Appears in 1 contract
Samples: Limited Partnership Agreement (Midland Resources Inc /Tx/)
Liability of General Partner. The General Partner is shall not be liable, responsible, or accountable in damages or otherwise to the Limited Partner or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreement. The General Partner is liable to the Limited Partner only for conduct that involves gross negligence, bad faith, or fraud.
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