No Liability to Third Parties. 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 for liabilities of the Company.
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Samples: Operating Agreement (TASCR Ventures, LLC), Operating Agreement (Workhorse Group Inc.), Operating Agreement (Olympic Steel Inc)
No Liability to Third Parties. No Member shall be liable as such for the debts, obligations or liabilities of the Company, including under a judgment decree or order of a court. 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 for liabilities of the Company.
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