Common use of Liability of General Partners and Affiliates to Limited Partners Clause in Contracts

Liability of General Partners and Affiliates to Limited Partners. or Investors The General Partners and the Affiliates of the General Partners performing certain services on behalf of the Fund shall not be liable, responsible, or accountable, in liabilities, damages or otherwise, to any Investor, Limited Partner or the Fund for any loss, judgment, liability, expense or amount paid in settlement of any claims sustained which arise out of any act or omission performed or omitted by them within the scope of the authority conferred on them by this Agreement, provided that the General Partners determine, in good faith, that such act or omission was in the best interests of the Fund, except for acts of negligence or misconduct or for damages arising from any misrepresentation or breach of an agreement with the Fund. The Fund shall not incur the cost of that portion of any liability insurance which insures a General Partner or the Affiliates of the General Partners performing certain services on behalf of the Fund against any liability as to which a General Partner or Affiliate may not be indemnified under Section 5.10 herein.