Common use of Managers Liability and Indemnification Clause in Contracts

Managers Liability and Indemnification. The Company’s and each of its subsidiaries’ operating agreement and other organizational documents shall provide (a) for elimination of the liability of Managers to the maximum extent permitted by applicable law and (b) for indemnification of Managers for acts on behalf of the Company and its subsidiaries to the maximum extent permitted by applicable law.

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