Common use of Limitation of Liability of Shareholders and Officers Clause in Contracts

Limitation of Liability of Shareholders and Officers. of the ----------------------------------------------------------- General Partner. ANY OBLIGATION OR LIABILITY WHATSOEVER OF THE GENERAL --------------- PARTNER WHICH MAY ARISE AT ANY TIME UNDER THIS AGREEMENT OR ANY OBLIGATION OR LIABILITY WHICH MAY BE INCURRED BY IT PURSUANT TO ANY OTHER INSTRUMENT, TRANSACTION OR UNDERTAKING CONTEMPLATED HEREBY SHALL BE SATISFIED, IF AT ALL, OUT OF THE GENERAL PARTNER'S ASSETS ONLY. NO SUCH OBLIGATION OR LIABILITY SHALL BE PERSONALLY BINDING UPON, NOR SHALL RESORT FOR THE ENFORCEMENT THEREOF BE HAD TO, THE PROPERTY OF ANY OF ITS SHAREHOLDERS, TRUSTEES, OFFICERS, EMPLOYEES OR AGENTS, REGARDLESS OF WHETHER SUCH OBLIGATION OR LIABILITY IS IN THE NATURE OF CONTRACT, TORT OR OTHERWISE.

Appears in 5 contracts

Samples: Contribution Agreement (Cabot Industrial Trust), Limited Partnership Agreement (Cabot Industrial Properties Lp), Agreement of Limited Partnership (Cabot Industrial Trust)

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