Common use of Liability of Members Clause in Contracts

Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 14 contracts

Samples: Limited Liability Company Agreement (GECB Equipment Funding, LLC), Limited Liability Company Agreement (GECB Equipment Funding, LLC), Limited Liability Company Agreement (Cef Equipment Holding LLC)

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Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.. 5 Issuer LLC Agreement

Appears in 11 contracts

Samples: Limited Liability Company Agreement (GE TF Trust), Limited Liability Company Agreement (GE TF Trust), Limited Liability Company Agreement (GE TF Trust)

Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (GE Equipment Transportation LLC, Series 2012-2), Limited Liability Company Agreement (GE Equipment Transportation LLC, Series 2012-2), Limited Liability Company Agreement (GE Equipment Midticket LLC, Series 2012-1)

Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of Member, in its capacity as such such, will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Synchrony Card Issuance Trust), Limited Liability Company Agreement (RFS Holding LLC), Limited Liability Company Agreement (RFS Funding Trust)

Liability of Members. Except as required by the Act, no Member Member, Manager or any Manager, agent, shareholder, director, employee or incorporator of any Member Independent Manager solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicableCompany.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (SG Mortgage Securities, LLC), Limited Liability Company Agreement (SG Mortgage Securities, LLC), Limited Liability Company Agreement (Cef Equipment Holding LLC)

Liability of Members. Except as required by the Act, no Member or any Member, Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Higher Education Funding I), Limited Liability Company Agreement (Consolidation Loan Funding, LLC)

Liability of Members. Except as required by the Act, no neither the Initial Authorized Person nor any Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Consolidation Loan Funding Ii, LLC), Limited Liability Company Agreement (Goal Capital Funding, LLC)

Liability of Members. Except as required by the Act, no No Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Cef Equipment Holding LLC), Limited Liability Company Agreement (Cef Equipment Holding LLC)

Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities solely by reason of being a member or manager of the Company, Company whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cef Equipment Holding LLC)

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Liability of Members. Except as required by otherwise provided under the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for Act (a) the debts, obligations obligations, and liabilities of the Company, whether arising in contract, tort tort, or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations obligations, and liabilities of the Company, and (b) none of the Members or officers shall be personally liable for any judgment, decree, or order of a court, or in any other manner for any debt, obligation, or liability of, the Company solely by reason of being a Member or such other Member, as applicableofficer.

Appears in 1 contract

Samples: Operating Agreement

Liability of Members. Except as required by otherwise provided under the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for (a) the debts, obligations obligations, and liabilities of the Company, whether arising in contract, tort tort, or otherwise, which debts, obligations and liabilities shall be are solely the debts, obligations obligations, and liabilities of the Company, and (b) neither the Members nor the Directors are personally liable to satisfy any judgment, decree, or order of a court for, or arc personally liable to satisfy in any other manner, a debt, obligation, or liability of the Company solely by reason of being a Member or such other Member, as applicableDirector.

Appears in 1 contract

Samples: Operating Agreement (Wingfoot Ventures Eight Inc.)

Liability of Members. Except as required by No Member (including the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will ) shall be liable for the debtsexpenses, liabilities or obligations and liabilities of the Company, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other make any contributions or payments to the Company or any Member, as applicableexcept to the extent explicitly stated under this Agreement, the Act or other applicable law.

Appears in 1 contract

Samples: Operating Agreement

Liability of Members. Except as required otherwise provided by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member solely by reason of its capacity as such will be liable for (i) the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company and (ii) no Member shall be obligated personally for any such debt, obligation or such other Member, as applicableliability of the Company solely by reason of being a Member of the Company.

Appears in 1 contract

Samples: Operating Agreement (Schneider Lawrence I)

Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director, employee or incorporator of any Member or Independent Manager solely by reason of its capacity as such will be liable for the debts, obligations and liabilities of the CompanyCompany or any other Member, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts, obligations and liabilities of the Company or such other Member, as applicable.

Appears in 1 contract

Samples: Limited Liability Company Agreement (GE Equipment Midticket LLC, Series 2013-1)

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