Common use of No Personal Liability for Partners Clause in Contracts

No Personal Liability for Partners. Notwithstanding anything in this Agreement to the contrary (including in this Section 7.7), any indemnification or other obligation of the Partnership relating to the matters covered in this Section 7.7 shall be provided out of and to the extent of Partnership assets only and no Partner (unless such Partner otherwise agrees in writing or is found in a final decision by a court of competent jurisdiction to have personal liability on account thereof) shall have personal liability on account thereof or shall be required to make additional Capital Contributions (other than as required in any other agreement between the Partnership and a Partner) to help satisfy such indemnity of the Partnership. In no event may a Covered Person subject any of the Partners to personal liability by reason of the indemnification provisions set forth in this Agreement.

Appears in 4 contracts

Samples: InfraREIT, Inc., InfraREIT, Inc., InfraREIT, Inc.

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.