Liability of the Limited Partners and the Directors. Except for the obligations set forth hereunder and under the Subscription Agreements, the liability of the Limited Partners shall be limited to the maximum extent permitted by the Act. If a Limited Partner is required under the Act to return to the Fund or pay, for the benefit of creditors of the Fund, amounts previously distributed to such Limited Partner, the obligation of such Limited Partner to return or pay any such amount to the Fund shall be the obligation of such Limited Partner and not the obligation of the Directors. The liability of the Directors shall be limited to the maximum extent permitted by the Act.
Appears in 9 contracts
Samples: Limited Partnership Agreement (NB Crossroads Private Markets Fund VII LP), Limited Partnership Agreement (NB Crossroads Private Markets Fund VI Custody LP), Limited Partnership Agreement (NB Crossroads Private Markets Fund VI Advisory LP)
