Limited Liability of Limited Partner Sample Clauses

Limited Liability of Limited Partner. (a) Subject to the provisions of applicable Law, the liability of the Limited Partner for the debts, liabilities and obligations of the Limited Partnership will be limited to the amount of capital Contributed by or agreed to be Contributed by the Limited Partner to the Limited Partnership. (b) The General Partner shall use commercially reasonable efforts to include the following provision in all contracts entered into by the Limited Partnership: “The parties hereto acknowledge that Lansdowne Stadium Limited Partnership (the “Limited Partnership”) is a limited partnership formed under the law of the Province of Manitoba, a limited partner of which is only liable for any of the Limited Partnership’s liabilities to the extent of the amount that the limited partner has contributed to the capital of the Limited Partnership. The parties hereto acknowledge that the obligations of the Limited Partnership are not personally binding upon, nor shall recourse be had to, the property of any limited partner or the property of any successor or assign of any limited partner, and that recourse shall only be had to the property of the Limited Partnership or the property of Lansdowne Stadium GP Inc., which is the sole general partner of the Limited Partnership. The parties expressly acknowledge having been advised prior to entering into this agreement that Lansdowne Master Limited Partnership is the sole limited partner of the Limited Partnership and that, accordingly, its liability is limited as aforesaid.”
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Limited Liability of Limited Partner. Subject to the provisions of the LP Act and of such similar legislation in Canada and elsewhere as is applicable to the Partnership, the liability of the Limited Partner for the debts, liabilities and obligations of the Partnership will be limited to its Capital Contribution Balance and solely to the extent required by applicable law, the amount of any Capital Distributions received by it.
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Limited Liability of Limited Partner. The Limited Partner shall have no liability under this Agreement except as provided in this Agreement or the Delaware Act.
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Limited Liability of Limited Partner. Except as otherwise provided in the Act or any other applicable law, the Limited Partner is not personally liable for the expenses, liabilities or obligations of the Partnership beyond the amount of his Capital Contribution.
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Limited Liability of Limited Partner. Subject to the provisions of the Act, the liability of the Limited Partner for the debts, liabilities and obligations of the Partnership at any relevant time shall be limited to the Limited Partner’s Capital Account at that time and any amount paid or required at such time to be paid by the Limited Partner as Additional Capital Contributions pursuant to section 3.2 and the Limited Partner shall not be liable for any further claims, assessments or contributions to the Partnership.
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Limited Liability of Limited Partner. No Limited Partner shall be ------------------------------------ liable for any debts, liabilities, contracts or obligations of the Partnership, except as provided by law. The Limited Partner shall be liable only to make payments of its Capital Contributions as and when due under this Agreement.
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Limited Liability of Limited Partner. The Limited Partner shall not be bound by, or be personally liable for, the expenses, liabilities or obligations of the Partnership beyond the amount agreed to be contributed by it to the capital of the Partnership pursuant to this Agreement or as provided in Section 5.1(e)(iii), nor shall the Limited Partner be responsible for any losses of any other Partner. The Limited Partner, in its capacity as limited partner of the Partnership, shall not take part in the conduct or control of the business of the Partnership, and the Limited Partner shall have no right or authority to act for or bind the Partnership in any manner whatsoever.
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Limited Liability of Limited Partner. The Limited Partner shall not have any liability for the obligations or liabilities of the Partnership except to the extent provided in the Act.
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Limited Liability of Limited Partner. The liability of the Limited Partner in all respects shall be limited to the capital contributions paid by such Limited Partner under the provisions of Sections 2.2 and 2.3 hereof.
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Related to Limited Liability of Limited Partner

  • Limited Liability Except as provided by the Act, 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 the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member of the Company.

  • Formation of Limited Partnership (a) The Partnership is formed as a limited partnership pursuant to the Certificate and this Agreement. The Partners agree that their rights, duties and liabilities will be as provided in the Delaware Act, except as otherwise provided in this Agreement. The General Partner will cause the Certificate to be executed and filed in accordance with the Delaware Act and will cause to be executed and filed with applicable governmental authorities any other instruments, documents and certificates that the General Partner concludes may from time to time be required by the laws of the United States of America, the State of Delaware or any other jurisdiction in which the General Partner determines that the Partnership should do business, or any political subdivision or agency of any such jurisdiction, or that the General Partner determines is necessary or appropriate to effectuate, implement and continue the valid existence and business of the Partnership. (b) The Partnership is formed for the object and purpose of (and the nature of the business to be conducted by the Partnership is) engaging in any lawful activity for which limited partnerships may be formed under the Delaware Act and engaging in any and all activities necessary or incidental to the foregoing.

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