Common use of Limitation on Liability of Managers Clause in Contracts

Limitation on Liability of Managers. No Person serving as Manager shall be liable to the Company for monetary damages for breach of fiduciary duty as a Manager; provided, however, that nothing contained herein shall eliminate or limit the liability of such Person (i) for any breach of the Manager's duty of loyalty to the Company, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law and, (iii) for any transaction from which the Manager derived an improper personal benefit.