Common use of Neither Responsible for Other’s Commitments Clause in Contracts

Neither Responsible for Other’s Commitments. Neither the Members nor the Company shall be responsible or liable for any indebtedness or obligation of a particular Member incurred either before or after the execution of this Agreement, except as to those joint responsibilities, liabilities, debts or obligations incurred pursuant to the terms of this Agreement, and each Member indemnifies and agrees to hold the other Member and the Company harmless from such personal obligations and debts, except as aforesaid.

Appears in 8 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.)

AutoNDA by SimpleDocs

Neither Responsible for Other’s Commitments. Neither the Members nor the Company shall be responsible or liable for any indebtedness or obligation of a particular any other Member incurred either before or after the execution of this Agreement, except as to those joint responsibilities, liabilities, debts debts, or obligations incurred pursuant to the terms of this Agreement, and each Member indemnifies and agrees to hold the other Member Members and the Company harmless from such personal obligations and debts, except as aforesaid.

Appears in 1 contract

Samples: Operating Agreement (Extra Space Storage Inc.)

Neither Responsible for Other’s Commitments. Neither the Members nor the Company shall be responsible or liable for any indebtedness or obligation obligations of a particular Member the other Members incurred either before or after the execution of this Agreement, except as to those joint responsibilities, liabilities, debts responsibilities or obligations incurred or assumed by a Member pursuant to the terms of this Agreement, and each Member indemnifies and agrees to hold the other Member and the Company harmless from such personal obligations and debts, except as aforesaid.

Appears in 1 contract

Samples: Operating Agreement (Sterling House Corp)

Neither Responsible for Other’s Commitments. Neither the Members nor the Company shall be responsible or liable for any indebtedness or obligation of a particular the other Member incurred either before or after the execution of this Agreement, except as to those joint responsibilities, liabilities, debts or obligations incurred pursuant to the terms of this Agreement, and each Member indemnifies and agrees to hold the other Member and the Company harmless from such personal obligations and debts, except as aforesaid.

Appears in 1 contract

Samples: Operating Agreement (American Retirement Corp)

AutoNDA by SimpleDocs

Neither Responsible for Other’s Commitments. Neither the Members nor the Company shall be responsible or liable for any indebtedness or obligation of a particular Member incurred either before or after the execution of this Agreement, except as to those joint responsibilities, liabilities, debts or obligations incurred pursuant to the terms of this Agreement, and each Member indemnifies and agrees to hold the other Member Members and the Company harmless from such personal obligations and debtsdebts of such Member, except as aforesaid.

Appears in 1 contract

Samples: Operating Agreement (Boston Properties Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!