Common use of Liability of Officers Clause in Contracts

Liability of Officers. (a) No Officer shall be personally liable for the debts and obligations of the Company. (b) No Officer shall be liable, responsible or accountable in damages or otherwise to the Company or any Member for any action taken or any failure to act (even if such action or failure to act constituted the simple negligence of that Officer) on behalf of the Company within the scope of the authority conferred on such Officer by this Agreement or by law, unless such act or failure to act constituted gross negligence or was performed or omitted willfully or intentionally or in bad faith.

Liability of Officers. (a) No Officer shall be personally liable for the debts and obligations of the Company. (b) No Officer shall be liable, responsible or accountable in damages or otherwise to the Company or any Member for any action taken or any failure to act (even if such action or failure to act constituted the simple negligence of that Officer) on behalf of the Company within the scope of the authority conferred on such Officer by this Agreement or by law, unless such act or failure to act constituted gross negligence or was performed or omitted willfully or intentionally or in bad faith.

Liability of Officers. (a) No Officer shall be personally liable for the debts and obligations officer of the Company. (b) No Officer Company shall be liable, responsible or accountable in damages or otherwise to the Company or any Member for any action taken or any failure to act (even if such action or failure to act constituted the simple negligence of that Officeron such Person's part) on behalf of the Company within the scope of the authority conferred on such Officer the officer of the Company by this Agreement or by law, unless such act or failure to act constituted gross negligence or was performed or omitted willfully or intentionally or and in bad faith.