Common use of Limited Liability of Members Clause in Contracts

Limited Liability of Members. No Member in its capacity as a Member shall be liable for any debts, obligations or liabilities of the Company. Neither the Managing Member nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company shall have any liability for the debts, obligations or liabilities of the Company solely by reason of being a Managing Member, Officer or “authorized person”, as the case may be, except to the extent provided in the Act.

Limited Liability of Members. No Member in its capacity as a Member shall be liable for any debts, obligations or liabilities of the Company. Neither the Managing Member Directors nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company shall have any liability for the debts, obligations or liabilities of the Company solely by reason of being a Managing MemberDirector, Officer or “authorized person”, as the case may be, except to the extent provided in the Act.

Limited Liability of Members. No Member in its capacity as a Member Neither any Member, nor any owner, officer, director, employee or agent of any Member, shall be liable for any debts, liabilities or obligations or liabilities of the Company. Neither the Managing Member nor any of the Officers (if any), nor any “authorized person” (within the meaning of the Act) of the Company whether arising in contract, in tort or otherwise; provided that each Member shall have any liability be responsible: (a) for the debts, obligations or liabilities making of any contribution to the capital of the Company solely required to be made by reason of being a Managing Member, Officer or “authorized person”, as the case may be, except such Member pursuant to the extent provided in terms of this Agreement; and (b) for the amount of any distribution made to such Member that must be returned to the Company pursuant to the Act.