Common use of Limitation of Members’ Responsibility, Liability Clause in Contracts

Limitation of Members’ Responsibility, Liability. The Members shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunder. The Members shall not be personally liable for any amount in excess of their respective Capital Contributions, and shall not be liable for any of the debts or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such Member. In addition, each Member’s liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effect.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (LyondellBasell F&F Holdco, LLC), Limited Liability Company Agreement (LyondellBasell F&F Holdco, LLC), Limited Liability Company Agreement (Lyondell Refining LP, LLC)

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Limitation of Members’ Responsibility, Liability. The Members Member shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunder. The Members Member shall not be personally liable for any amount in excess of their respective its Capital ContributionsContribution, and shall not be liable for any of the debts or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such the Member. In addition, each the Member’s liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effect.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Atmos Energy Kansas Securitization I, LLC), Limited Liability Company Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Limited Liability Company Agreement (CenterPoint Energy Restoration Bond Company, LLC)

Limitation of Members’ Responsibility, Liability. The Members shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunder. The Members shall not be personally liable for any amount in excess of their respective Capital Contributions, and shall not be liable for any of the debts or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such Member. In addition, each Member’s 's liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effect.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Reliant Energy Services Inc), Limited Liability Company Agreement (Reliant Energy Transition Bond Co LLC)

Limitation of Members’ Responsibility, Liability. The Members shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunderunder this Agreement. The Members shall not personally be personally liable for any amount in excess of their respective Capital Contributionscapital contributions, and shall not be liable for any of the debts debts, obligations, liabilities, or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such Member. In addition, each Member’s liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effectAct.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NationsHealth, Inc.)

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Limitation of Members’ Responsibility, Liability. The Members Member shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunder. The Members Member shall not be personally liable for any amount in excess of their respective its Capital ContributionsContribution, and shall not be liable for any of the debts or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such the Member. In addition, each the Member’s 's liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effect.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CenterPoint Energy Transition Bond CO II, LLC)

Limitation of Members’ Responsibility, Liability. The Members Member shall not perform any act on behalf of the Company, incur any expense, obligation or indebtedness of any nature on behalf of the Company, or in any manner participate in the management of the Company or receive or be credited with any amounts, except as specifically contemplated hereunder. The Members Member shall not be personally liable for any amount in excess of their respective its Capital Contributions, Contribution and shall not be liable for any of the debts or losses of the Company, except to the extent that a liability of the Company is founded upon or results from an unauthorized act or activity of such the Member. In addition, each the Member’s liability shall be limited as set forth in the Delaware Act and other applicable law hereafter in effect.

Appears in 1 contract

Samples: Limited Liability Company Agreement (SIGECO Securitization I, LLC)

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