Common use of Liability of Managers and Members Clause in Contracts

Liability of Managers and Members. The Administrator understands and agrees that the obligations of the Fund under this Agreement are not binding upon any Member or person serving on the Board ("Manager") of the Fund personally, but bind only the Fund and the Fund's property; the Administrator represents that it has notice of the provisions of the Limited Liability Company Agreement of the Fund disclaiming Member and Manager liability for acts and obligations of the Fund.

Liability of Managers and Members. The Administrator understands and agrees that the obligations of the Fund under this Agreement are not binding upon any Member or person serving on the Board ("ManagerTrustee") of the Fund personally, but bind only the Fund and the Fund's property; the Administrator represents that it has notice of the provisions of the Limited Liability Company Agreement Declaration of Trust of the Fund disclaiming Member Shareholder and Manager Trustee liability for acts and obligations of the Fund.