No Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or the Manager for liabilities of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Legion Capital Corp), Limited Liability Company Agreement
No Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or the Manager for the liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Capital Growth Systems Inc /Fl/)
No Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members (or the Manager Manager) for liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Inland Real Estate Corp)
No Liability of Members. No Except as set forth in Section 4.10, no Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members (or the Manager Manager) for liabilities of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Inland Real Estate Corp)
