No Member Responsible for Other Member’s Commitment. In the event that any Member (or any of such Member's shareholders, partners, members, owners, or Affiliates (collectively, the "Liable Member")) has incurred any indebtedness or obligation prior to the date of this Agreement that relates to or otherwise affects the Company, neither the Company nor any other Member shall have any liability or responsibility for or with respect to such indebtedness or obligation.
Appears in 2 contracts
Samples: Operating Agreement (Penske Motorsports Inc), Operating Agreement (Penske Motorsports Inc)
No Member Responsible for Other Member’s Commitment. In the event that any Member (or any of such Member's ’s shareholders, partners, members, owners, or Affiliates (collectively, the "“Liable Member"”)) has incurred any indebtedness or obligation prior to the date of this Agreement that relates to or otherwise affects the Company, neither the Company nor any other Member shall have any liability or responsibility for or with respect to such indebtedness or obligationobligation and no Member guarantees said liability or responsibility.
Appears in 1 contract
No Member Responsible for Other Member’s Commitment. In the event that any Member (or any of such Member's shareholders, partners, members, owners, or Affiliates (collectively, the "Liable Member")) has incurred any indebtedness or obligation prior to the date of this Agreement that relates to or otherwise affects the Company, neither the Company nor any other Member shall have any liability or responsibility for or with respect to such indebtedness or obligation.
Appears in 1 contract