Common use of Third Party Liabilities Clause in Contracts

Third Party Liabilities. The provisions of this Article and of Section 3.2 hereof are not intended to be for the benefit of any creditor or other Person (other than a Member in his or her capacity as a Member) to whom any debts, liabilities or obligations are owed by (or who otherwise has any claim against) the Company or any of the Members. Moreover, notwithstanding anything contained in this Agreement, including specifically but without limitation this Article, no such creditor or other Person shall obtain any rights under this Agreement or shall, by reason of this Agreement, make any claim in respect of any debt, liability or obligation (or otherwise) against the Company or any Member.

Appears in 5 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Third Party Liabilities. The provisions of this Article and of Section 3.2 hereof III are not intended to be for the benefit of any creditor or other Person (other than a Member in his his, her, or her its capacity as a Member) to whom any debts, liabilities liabilities, or obligations are owed by (or who otherwise has any claim against) the Company or any of the Members. Moreover, notwithstanding anything contained in this Agreement, including specifically but without limitation this ArticleArticle III, no such creditor or other Person shall obtain any rights under this Agreement or shall, by reason of this Agreement, make any claim in respect of any debt, liability liability, or obligation (or otherwise) against the Company or any Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (St Lawrence Seaway Corp), Option Agreement (St Lawrence Seaway Corp)

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