Common use of Limitation on Duties Clause in Contracts

Limitation on Duties. 31 8.20 Contractual Statute of Limitations..................................................32 8.21 Matters Not Provided For; Compliance With Law.......................................32 ASA DEBT ARBITRAGE FUND LLC LIMITED LIABILITY COMPANY OPERATING AGREEMENT THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT of ASA Debt Arbitrage Fund LLC (the "Fund") is dated as of June 30, 2003 by and among Aspen Strategic Alliance LLC, a Delaware limited liability company, as the Adviser and Organizational Member and those persons hereinafter admitted as Members.

Limitation on Duties. 31 8.20 Contractual Statute of Limitations..................................................32 8.21 Matters Not Provided For; Compliance With Law.......................................32 ASA DEBT ARBITRAGE MARKET NEUTRAL EQUITY FUND LLC LIMITED LIABILITY COMPANY OPERATING AGREEMENT THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT of ASA Debt Arbitrage Market Neutral Equity Fund LLC (the "Fund") is dated as of June 30, 2003 by and among Aspen Strategic Alliance LLC, a Delaware limited liability company, as the Adviser and Organizational Member and those persons hereinafter admitted as Members.

Limitation on Duties. 31 8.20 Contractual Statute of Limitations....................................................................................32 8.21 Matters Not Provided For; Compliance With Law..............................................................32 ASA DEBT ARBITRAGE MANAGED FUTURES FUND LLC LIMITED LIABILITY COMPANY OPERATING AGREEMENT THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT of ASA Debt Arbitrage Managed Futures Fund LLC (the "Fund") is dated as of June 30, 2003 by and among Aspen Strategic Alliance LLC, a Delaware limited liability company, as the Adviser and Organizational Member and those persons hereinafter admitted as Members.

Limitation on Duties. 31 8.20 Contractual Statute of Limitations..................................................32 8.21 Matters Not Provided For; Compliance With Law.......................................32 ASA DEBT ARBITRAGE HEDGED EQUITY FUND LLC LIMITED LIABILITY COMPANY OPERATING AGREEMENT THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT of ASA Debt Arbitrage Hedged Equity Fund LLC (the "Fund") is dated as of June 30, 2003 by and among Aspen Strategic Alliance LLC, a Delaware limited liability company, as the Adviser and Organizational Member and those persons hereinafter admitted as Members.