Members Have Limited Personal Liability. (a) No Member or Assignee, in its capacity as such, shall be personally liable to any Person for the debts, liabilities, obligations or commitments of the Company, whether arising in tort, contract or otherwise; provided, however, that this Section 4.1(a) shall not be construed to limit the obligations of Members and Assignees under Sections 5.1(d) and 5.2(c).
Appears in 3 contracts
Samples: Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC)
Members Have Limited Personal Liability. (a) No Except as otherwise required by law or as contemplated by Section 4.1(c), no Member or Assignee, in its capacity as such, shall be personally liable to any Person for the debts, liabilities, obligations or commitments of the Company, whether arising in tort, contract or otherwise; provided, however, that this Section 4.1(a) shall not be construed to limit the obligations of Members and Assignees under Sections 5.1(d5.1(c) and 5.2(c5.4(d).
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC)
