Common use of Managers Liability and Indemnification Clause in Contracts

Managers Liability and Indemnification. The LLC’s and each of its subsidiaries’ certificate of incorporation, bylaws, articles of association, operating agreements and other organizational documents shall provide (a) for elimination of the liability of managers and directors to the maximum extent permitted by law and (b) for indemnification of managers and directors for acts on behalf of the LLC and its subsidiaries to the maximum extent permitted by law.

Managers Liability and Indemnification. The LLCCompany’s and each of its subsidiaries’ certificate of incorporation, bylaws, articles of association, operating agreements agreement and other organizational documents shall provide (a) for elimination of the liability of managers and directors Managers to the maximum extent permitted by applicable law and (b) for indemnification of managers and directors Managers for acts on behalf of the LLC Company and its subsidiaries to the maximum extent permitted by applicable law.