Common use of Liability of General Partners Clause in Contracts

Liability of General Partners. Notwithstanding anything to the contrary contained herein, the General Partners shall not be liable, responsible or accountable in damages or otherwise to the Partnership or to any Limited Partner, successor, assignee or transferee except by reason of acts or omissions due to bad faith, gross negligence, recklessness, fraud or intentional misconduct, or by reason of actions taken in the knowledge that such actions were not within the stated purposes and powers of the Partnership.

Liability of General Partners. Notwithstanding anything to the contrary contained herein, the The General Partners Partner shall not be liableliable for any action taken or omitted, responsible which may result in loss or accountable in damages or otherwise damage to the Partnership Partnership, if such action was taken or to any Limited Partner, successor, assignee omitted in reliance upon the opinion of legal or transferee except by reason of acts or omissions due to bad faith, gross negligence, recklessness, fraud or intentional misconduct, or by reason of actions taken in the knowledge that such actions were not within the stated purposes and powers of other professional counsel for the Partnership.

Liability of General Partners. Notwithstanding anything to the contrary contained herein, the The General Partners shall not be liableliable for any action taken or omitted, responsible which may result in loss or accountable in damages or otherwise damage to the Partnership Partnership, if such action was taken or to any Limited Partner, successor, assignee omitted in reliance upon the opinion of legal or transferee except by reason of acts or omissions due to bad faith, gross negligence, recklessness, fraud or intentional misconduct, or by reason of actions taken in the knowledge that such actions were not within the stated purposes and powers of other professional counsel for the Partnership.

Liability of General Partners. Notwithstanding anything to the contrary contained herein, the General Partners shall not be liable, responsible or accountable in damages or otherwise to the Partnership or to any Limited Partner, successor, assignee or transferee except by reason of acts or omissions due to bad faith, gross negligence, recklessness, fraud or intentional misconduct, or by reason of actions taken in the knowledge that such actions were not within the stated purposes and powers of the PartnershipPartnership or the powers reasonably to be implied therefrom.