Common use of Liability Generally Clause in Contracts

Liability Generally. The General Partner shall not be liable to the Limited Partners because any taxing authorities disallow or adjust any deductions or credits in the Partnership or a Limited Partner's income tax returns, nor shall the General Partner have any personal liability for the repayment of capital contributions of the Limited Partners except as provided in this Agreement. In addition, the General Partner shall not be liable, responsible or accountable in damages or otherwise to any of the Limited Partners or to the Partnership for any act or omission performed or omitted by it in good faith, and in the reasonable belief that such act or omission was within the scope and authority granted to it by this Agreement.