Common use of Limitation on Benefits of this Agreement Clause in Contracts

Limitation on Benefits of this Agreement. No Person other than the Members and the Company (and the Persons entitled to indemnity from the Company or exculpated from liability pursuant to Section 7.6 or Section 7.7, but with regard to such Section 7.6 and Section 7.7 only) is or shall be entitled to bring any action to enforce any provision of this Agreement, and the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of the Company and its Members (and a Member’s successors and assigns as permitted hereunder), and shall be enforceable only by the Majority-In-Interest of the Members and the Company (and by the Persons entitled to indemnity from the Company or exculpated from liability pursuant to Section 7.6 or Section 7.7, but with regard to such Section 7.6 and Section 7.7 only).

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement

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Limitation on Benefits of this Agreement. No Person other than the Members and the Company (and the Persons entitled to indemnity from the Company or exculpated from liability pursuant to Section 7.6 or Section 7.7, but with regard to such Section 7.6 and Section 7.7 only) is or shall be entitled to bring any action to enforce any provision of this Agreement, and the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of the Company and its Members (and a Member’s successors and assigns as permitted hereunder)of, and shall be enforceable only by by, the Majority-In-Interest of the Members (or its respective successors and assigns as permitted hereunder) and the Company (and by the Persons entitled to indemnity from the Company or exculpated from liability pursuant to Section 7.6 or Section 7.7, but with regard to such Section 7.6 and Section 7.7 only).

Appears in 2 contracts

Samples: Third Fourth, Limited Liability Company Agreement

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