Limitation on Member Liability. (a) Except as otherwise expressly required by law, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member or Managing Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member or Managing Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Zell Samuel), Company Operating Agreement (Northstar Capital Investment Corp /Md/), Limited Liability Company Agreement (Zell Samuel)
Limitation on Member Liability. (a) Except as otherwise expressly required by law, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member or Managing neither the Organizer nor any Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being the Organizer or a Member or Managing Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Newcastle Investment Corp), Limited Liability Company Agreement (Newcastle Investment Corp), Limited Liability Company Agreement (Fortress Investment Corp)
Limitation on Member Liability. (a) Except as otherwise expressly required by law, the debts, obligations and liabilities of the Company, which arose or occurred on, prior to or after the Effective Date whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities liabilities, of the Company, and no Member or Managing Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member or Managing Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Frontline Capital Group)
Limitation on Member Liability. (a1) Except as otherwise expressly required by law, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member or Managing Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member or Managing Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Reckson Services Industries Inc)
