Liability of Member. Except as otherwise required in the Delaware Act, the debts, obligations, and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, the Member shall not be obligated for any such debt, obligation or liability of the Company solely by reason of being a Member or participating in the management of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Delaware Act or this Agreement shall not be grounds for imposing liability on the Member for liabilities of the Company.
Appears in 13 contracts
Samples: Limited Liability Company Agreement (Blue Chip Merger Subsidiary Inc), Limited Liability Company Agreement (Blue Chip Merger Subsidiary Inc), Limited Liability Company Agreement (Blue Chip Merger Subsidiary Inc)
Liability of Member. Except as otherwise required in provided by the Delaware Act, the debts, obligations, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member member or participating in the management of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Delaware Act or this Agreement shall not be grounds for imposing personal liability on the Member for liabilities of the Company.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Ancestry.com LLC), Limited Liability Company Agreement (Ancestry.com LLC), Limited Liability Company Agreement (Ancestry.com LLC)
Liability of Member. Except as otherwise required in the Delaware Act, the debts, obligations, and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, the Member shall not be obligated for any such debt, obligation or liability of the Company solely by reason of being a Member member or participating in the management of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Delaware Act or this Agreement shall not be grounds for imposing liability on the Member for liabilities of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Radio One Distribution Holdings, LLC), Limited Liability Company Agreement (Blue Chip Merger Subsidiary Inc)
Liability of Member. Except as otherwise required in by the Delaware LLC Act, the debts, obligations, and liabilities of the Company, whether arising in contract, tort tort, or otherwise, shall be solely the debts, obligations obligations, and liabilities of the Company, and the Member Member, the Board Members or any Officer shall not be obligated personally liable for any such debt, obligation obligation, or liability of the Company solely by reason of being or acting as a Member member, manager or officer of the Company or participating in the management management, control, or operation of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Delaware Act or this Agreement shall not be grounds for imposing liability on the Member for liabilities of the Company.
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