Common use of GP LIABILITY FOR ACTS OR OMISSION Clause in Contracts

GP LIABILITY FOR ACTS OR OMISSION. From and after the Effective Date, the performance or omission of any act by the General Partner or its Affiliates, including any act in its capacity as TMP, in the good faith belief that such person was acting within the scope of its authority under this Agreement on behalf of the Partnership or in furtherance of the Partnership's interests, shall not subject the General Partner or its Affiliates to any liability to the Partnership or the Partners. The foregoing shall not relieve the General Partner or any of its Affiliates from liability for gross negligence, fraud or wilful misconduct.