Common use of Other Rights; Fiduciary Duties Clause in Contracts

Other Rights; Fiduciary Duties. The Series A Preferred Units shall not have any voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth in this Article XVI or as provided by applicable law. To the fullest extent permitted by law and notwithstanding anything contained in this Agreement to the contrary (including Article VII) or any duty otherwise existing at law or in equity, neither the General Partner nor any other Indemnitee shall owe any fiduciary or other duties to Series A Holders; provided, however, that the foregoing does not eliminate the implied contractual covenant of good faith and fair dealing, without reference to the definition of “good faith” in Section 7.9(b).

Appears in 5 contracts

Samples: Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp)

AutoNDA by SimpleDocs

Other Rights; Fiduciary Duties. The Series A B Preferred Units shall not have any voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth in this Article XVI XVII or as provided by applicable law. To the fullest extent permitted by law and notwithstanding anything contained in this Agreement to the contrary (including Article VII) or any duty otherwise existing at law or in equity, neither the General Partner nor any other Indemnitee shall owe any fiduciary or other duties to Series A B Holders; provided, however, that the foregoing does not eliminate the implied contractual covenant of good faith and fair dealing, without reference to the definition of “good faith” in Section 7.9(b).

Appears in 3 contracts

Samples: Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!