Limitation of Liability of Managers. In any proceeding brought by or in the right of the Company or brought by or on behalf of the Member, a Manager (in his capacity as a Manager) or any of its Affiliates shall not be liable to the Company or its Member for any monetary damages arising out of any transaction, occurrence or course of conduct, unless in such proceeding the Manager or any of its Affiliates was adjudged to have engaged in willful misconduct or a knowing violation of the criminal law.
Appears in 5 contracts
Samples: Operating Agreement (Gamble's Hill Tredegar, LLC), Operating Agreement (Gamble's Hill Tredegar, LLC), Operating Agreement (Gamble's Hill Tredegar, LLC)
Limitation of Liability of Managers. In any proceeding brought by or in the right of the Company or brought by or on behalf of Members of the MemberCompany, a Manager (in his capacity as a Manager) or any of its Affiliates shall not be liable to the Company or its Member Members for any monetary damages arising out of any transaction, occurrence or course of conduct, unless in such proceeding the Manager or any of its Affiliates was adjudged to have engaged in willful misconduct or a knowing violation of the criminal law.
Appears in 1 contract
Samples: Operating Agreement (Tempus Applied Solutions Holdings, Inc.)
