Common use of Limitation on Member’s Liabilities Clause in Contracts

Limitation on Member’s Liabilities. Each Member's liability shall be limited as set forth in this Agreement and the Delaware Act and other applicable law. Notwithstanding the provisions of this Agreement, failure by the Members to follow the formalities relating to the conduct of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Sitestar Corp), Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)

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Limitation on Member’s Liabilities. Each Member's liability shall be limited as set forth in this Agreement and Agreement, the Delaware Act and other applicable law. Notwithstanding the provisions of this Agreement, failure by the Members to follow the formalities relating to the conduct of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Renal Care Group Inc), Limited Liability Company Agreement (Renal Care Group Inc)

Limitation on Member’s Liabilities. Each The Member's ’s liability shall be limited as set forth in this Agreement and Agreement, the Delaware Act and other applicable law. Notwithstanding The Member shall not be bound by, or be personally liable for, the provisions expenses, liabilities or obligations of this Agreement, failure the Company beyond the amount contributed by the Members to follow the formalities relating Member to the conduct capital of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member of , except as provided by the CompanyDelaware Act.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Ameripath Indiana LLC), Limited Liability Company Operating Agreement (Ameripath Indiana LLC)

Limitation on Member’s Liabilities. Each Member's ’s liability shall be limited as set forth in this Agreement and the Delaware Act and other applicable law. Notwithstanding the provisions of this Agreement, failure by the Members to follow the formalities relating to the conduct of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.), Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)

Limitation on Member’s Liabilities. Each Member's ’s liability shall will be limited as set forth in this Agreement and Agreement, the Delaware Act and other applicable law. Notwithstanding the provisions of this Agreement, failure by the Members to follow the formalities relating to the conduct of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member of the Company.

Appears in 1 contract

Samples: Operating Agreement (MedEquities Realty Trust, Inc.)

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Limitation on Member’s Liabilities. Each The Member's ’s liability shall be limited as set forth in this Agreement and Agreement, the Delaware Act and other applicable law. Notwithstanding The Member shall not be bound by, or be personally liable for, the provisions expenses, liabilities or obligations of this Agreement, failure the Company beyond the amount contributed by the Members to follow the formalities relating Member to the conduct capital of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member , except as provided by Section 18-607 of the CompanyDelaware Act.

Appears in 1 contract

Samples: Operating Agreement (2420 Lakemont Avenue MM, LLC)

Limitation on Member’s Liabilities. Each Member's The Members liability shall be limited as set forth in this Agreement and Agreement, the Delaware Act and other applicable law. Notwithstanding The Member shall not be bound by, or be personally liable for, the provisions expenses, liabilities or obligations of this Agreement, failure the Company beyond the amount contributed by the Members to follow the formalities relating Member to the conduct capital of the Company’s affairs set forth herein shall not be a ground for imposing personal liability on a Member , except as provided by Section 18-607 of the CompanyDelaware Act.

Appears in 1 contract

Samples: Operating Agreement (2420 Lakemont Avenue MM, LLC)

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