Common use of Limitation of Liability. Exculpation Clause in Contracts

Limitation of Liability. Exculpation. The liability of the Manager shall be limited to the maximum extent allowed for by applicable law. The Manager is in control of the management, direction, and operation of the Company’s and each Series’ affairs and shall have powers to bind the Company or a Series with any legally binding agreement, including setting up and operating separate bank accounts on behalf of the Company or such Series. The Manager shall not be subject to any liability to the Member or Series Members for any act or omission, the effect of which may cause or result in loss or damage to the Company or a Series or the Member or Series Members if done in good faith to promote the best interests of the Company or such Series.