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Common use of No Liability of Members Clause in Contracts

No Liability of Members. All debts, obligations and liabilities of the LLC, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the LLC, and no member shall be obligated personally for any such debt, obligation or liability of the LLC solely by reason of being a member. This section does not prevent an LLC member, should he or she so choose, from separately agreeing to guaranty or otherwise become liable for a debt which is also one of the LLC.

Appears in 8 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

No Liability of Members. All debts, obligations and liabilities of the ofthe LLC, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the LLC, and no member shall be obligated personally for any such debt, obligation or liability of the LLC solely by reason of being a member. This section does not prevent an LLC member, * should he or she so choose, from separately agreeing to guaranty or otherwise become liable for a debt which is also one of the LLC.

Appears in 1 contract

Samples: Operating Agreement

No Liability of Members. All debts, obligations and liabilities of the LLC, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the LLC, LLC and no member shall be obligated personally for any such debt, obligation or liability of the LLC solely by reason of being a member. This section does not prevent an LLC member, should he or she so choose, from separately agreeing to guaranty or otherwise become liable for a debt which is also one of the LLC.

Appears in 1 contract

Samples: Operating Agreement (GDT TEK, Inc.)

No Liability of Members. All debts, obligations and liabilities of the LLC, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the LLC, including a debt, obligation or liability under a judgment, decree or order of a court, and no member Member shall be obligated personally for any such debt, obligation or liability of the LLC solely by reason of being a memberMember. This section Section 3.3 does not prevent an LLC membera Member, should he he, she or she it so choose, from separately agreeing to guaranty or otherwise become liable for a debt which that is also one of the LLC.

Appears in 1 contract

Samples: Operating Agreement (ADial Pharmaceuticals, L.L.C.)