Liability of Members. No Member shall be liable for the debts, liabilities, contracts or other obligations of the Company except as otherwise provided in the Act or as expressly provided in this Agreement.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (CorEnergy Infrastructure Trust, Inc.), Limited Liability Company Agreement (CorEnergy Infrastructure Trust, Inc.), Limited Liability Company Agreement (CorEnergy Infrastructure Trust, Inc.)
Liability of Members. No Member shall be liable as such for the debts, liabilitiesobligations, contracts or other obligations liabilities of the Company, including any liability under a judgment decree or order of a court. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 5 contracts
Samples: Operating Agreement (John D. Oil & Gas Co), Operating Agreement (Energy West Inc), Operating Agreement (John D. Oil & Gas Co)
Liability of Members. No Member shall be liable as such for the debts, liabilitiesobligations or liabilities of the Company, contracts whether arising in contract, tort or other obligations otherwise. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Radnor Holdings Corp), Limited Liability Company Agreement (Radnor Holdings Corp), Limited Liability Company Agreement (Radnor Holdings Corp)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the Act exercise of its powers or as expressly provided in management of its business or affairs under this AgreementOperating Agreement or applicable law shall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 4 contracts
Samples: Operating Agreement (Beazer Homes Sales, Inc), Operating Agreement (Beazer Homes Sales, Inc), Operating Agreement (Beazer Homes Sales, Inc)
Liability of Members. No Member shall be liable for the debts, liabilities, contracts obligations or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on any Member for the liabilities of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Sidoti & Company, Inc.), Limited Liability Company Agreement (Sidoti & Company, Inc.), Limited Liability Company Agreement (Sidoti & Company, Inc.)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Operating Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 4 contracts
Samples: Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Clarksburg Skylark, LLC)
Liability of Members. No Member shall be personally liable for the debtsexpenses, liabilities, contracts debts, or other obligations of the Company except as otherwise specifically set forth in this Agreement or as provided in the Act or as expressly provided in this AgreementAct.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Community First Bankshares Inc), Limited Liability Company Agreement (Community First Bankshares Inc), Limited Liability Company Agreement (Black Amber Florida, Inc.)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts debts or other obligations of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities, debts or as expressly provided in this Agreementobligations of the Company.
Appears in 3 contracts
Samples: Operating Agreement (GreenSky, Inc.), Operating Agreement (GreenSky, Inc.), Operating Agreement (GreenSky, Inc.)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this Agreementthe Officers for liabilities of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC)
Liability of Members. No Member by virtue of status as a Member, shall be liable for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 3 contracts
Samples: Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC)
Liability of Members. No Member shall be liable as a Member for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 3 contracts
Samples: Member Control and Operating Agreement (Investors Real Estate Trust), Operating Agreement (NHP Inc), Operating Agreement (NHP Inc)
Liability of Members. No Member shall be liable for the debts, liabilities, contracts obligations or other obligations liabilities of the Company, including under a judgment decree or order of a court. No Member shall be liable to any other Member or to the Company except as otherwise provided by reason of the actions or inactions of such Member in connection with the Act Company unless such actions or as expressly provided omissions are not done or made in this Agreementgood faith or constitute (a) actual fraud, or (b) willful misconduct with the intent to harm the Company or any Member.
Appears in 3 contracts
Samples: Operating Agreement (RealD Inc.), Operating Agreement (RealD Inc.), Operating Agreement (Ballantyne of Omaha Inc)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts any liabilities or other obligations of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on any Member for any liabilities or as expressly provided in this Agreementother obligations of the Company.
Appears in 3 contracts
Samples: Operating Agreement (Success Acquisition Corp), Operating Agreement (Success Acquisition Corp), Operating Agreement (Success Acquisition Corp)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations -------------------- liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 2 contracts
Samples: Operating Agreement (Sempra Energy), Operating Agreement (Shiloh Industries Inc)
Liability of Members. No Subject to Article XV hereof, no Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided in or any obligations of another Member. The failure of a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this AgreementManaging Member for liabilities of the limited liability company.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)
Liability of Members. No Member shall be personally liable for any debt, obligation or liability of the debts, liabilities, contracts or other obligations Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this AgreementManager for liabilities of the Company.
Appears in 2 contracts
Samples: Operating Agreement (Cornerstone Core Properties REIT, Inc.), Operating Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this Agreementthe Managers for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (Melt Inc)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the Act exercise of its powers or as expressly provided in management of its business or affairs under this AgreementAgreement or applicable law shall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Beazer Homes, LLC)
Liability of Members. No Except as set forth in Section 16.4, no Member shall be liable as a Member for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (NHP Inc)
Liability of Members. No Member shall be liable in its capacity as a Member for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Aeroflex Holding Corp.)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on any of the Members.
Appears in 1 contract
Samples: Operating Agreement
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise may be provided in the Act. 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 this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company unless otherwise specified by the Act.
Appears in 1 contract
Samples: Operating Agreement (Nutrition Headquarters (De), Inc.)
Liability of Members. No Member in his, her or its capacity as a Member shall be liable for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No Member shall be liable as such for the debts, liabilitiesobligations or liabilities of the Company, contracts including, without limitation, any liability under a judgment decree or other obligations order of a court. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement
Liability of Members. No Subject to subsection (3) of this Article, no Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement
Liability of Members. No Member (as a Member) shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No Subject to Article XV hereof, no Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided in or any obligations of another Member. The failure of a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Operating Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this AgreementManagers for liabilities of the limited liability company.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Advanta Bank Corp)
Liability of Members. No Subject to Article XIV hereof, no Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided in or any obligations of another Member. The failure of a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Operating Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this AgreementManagers for liabilities of the limited liability company.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Advanta Bank Corp)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided in Company. The failure of a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in shall not be grounds for imposing personal liability on the Members for liabilities of this AgreementCompany.
Appears in 1 contract
Liability of Members. No Member shall be liable as either Member or as Manager for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Company Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (Fibermark Office Products LLC)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Company Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No A Member shall not be liable as a Member for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the Act exercise of its powers or as expressly provided in management of its business or affairs under this AgreementAgreement or the Code shall not be grounds for imposing personal liability on a Member for liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement
Liability of Members. No Member shall be liable liable, by reason of its Membership Interest, for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided beyond the Members’ respective Capital Contributions, unless the Member votes for or assents to a distribution which is in violation of Kentucky law or this Operating Agreement. 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 Operating Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under the Operating Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (Environmental Safeguards Inc/Tx)
Liability of Members. No Member shall be personally liable for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (Imax Corp)
Liability of Members. No Subject to Article XV hereof, no Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company except as otherwise provided in or any obligations of another Member. The failure of a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this agreement or the Act shall not be grounds for imposing personal liability on the members or as expressly provided in this Agreementmanager for liabilities of the limited liability company.
Appears in 1 contract
Samples: Operating Agreement (Advanta Business Services Corp)
Liability of Members. No Member shall be liable for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Managing Member(s) or as expressly provided in this Agreementthe Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or the management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability of the Members for any liabilities of the Company.
Appears in 1 contract
Liability of Members. No Member in his, her or its capacity as a Member shall be liable for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreement.shall not be grounds for imposing personal liability on the Members for liabilities of the Company. {A0035913.DOC}
Appears in 1 contract
Samples: Agreement for Purchase and Sale of Real Estate and Assets (Wastech, Inc.)
Liability of Members. No Member shall will be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementwill not be grounds for imposing personal liability on any Member for liabilities of the Company.
Appears in 1 contract
Samples: Operating Agreement (Sentex Sensing Technology Inc)
Liability of Members. No Member shall be liable as such for ----------- -------------------- the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act or as expressly provided in this Agreementshall not be grounds for imposing personal liability on the Members for liabilities of the Company.
Appears in 1 contract
Liability of Members. No Member The Members shall be liable have no liability for the debts, liabilitiesobligations and liabilities of the Company (whether arising in contract, contracts tort or other otherwise) and such debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company except as otherwise and to the extent expressly provided in the Act or as expressly provided in this AgreementAct.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Ibm International Group Capital LLC)
Liability of Members. No Member shall be liable as such for the debts, liabilities, contracts or other obligations liabilities of the Company. The failure of the Company except as otherwise provided in to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Company Agreement or the Act shall not be grounds for imposing personal liability on the Members or as expressly provided in this Agreementmanagers for liabilities of the Company.
Appears in 1 contract