Common use of Liability of Members Clause in Contracts

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 11 contracts

Sources: Operating Agreement (New Gaming Capital Partnership), Operating Agreement (New York Health Care Inc), Operating Agreement (John D. Oil & Gas Co)

Liability of Members. No The Member shall be liable as such not have any liability for the liabilities of the Company. The failure of the Company to observe any formalities obligations or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 8 contracts

Sources: Membership Interest Purchase Agreement (National Beef Packing Co LLC), Operating Agreement (Jarden Corp), Operating Agreement (O Gara Co)

Liability of Members. No Member shall be liable as such for the debts, liabilities or obligations of the Company. The failure , except to the extent of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the CompanyMember’s capital contributions.

Appears in 6 contracts

Sources: Limited Liability Company Agreement (Sidney Rich Associates, Inc.), Agreement of Operation (Tanning Research Laboratories, LLC), Agreement of Operation (Tanning Research Laboratories, LLC)

Liability of Members. No Member shall be liable as such for the debts, obligations, or liabilities of the Company, including any liability under a judgment decree or order of a court. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 5 contracts

Sources: Operating Agreement (John D. Oil & Gas Co), Operating Agreement (Energy West Inc), Operating Agreement (John D. Oil & Gas Co)

Liability of Members. No Member shall be liable as such for the obligations or liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on any Member for the Members for liabilities of the Company.

Appears in 4 contracts

Sources: Limited Liability Company Agreement (Sidoti & Company, Inc.), Limited Liability Company Agreement (Sidoti & Company, Inc.), Limited Liability Company Agreement (Sidoti & Company, Inc.)

Liability of Members. No Member shall be liable The Member; in its capacity as such for the liabilities a member of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act , shall not be grounds have any liability for imposing personal liability on the Members for obligations or liabilities of the Company.

Appears in 4 contracts

Sources: Limited Liability Company Agreement (Entercom Springfield, LLC), Limited Liability Company Agreement (Entercom Springfield, LLC), Limited Liability Company Agreement (Entercom Springfield, LLC)

Liability of Members. No Member shall be liable as such for the debts, obligations or liabilities of the Company, whether arising in contract, tort or otherwise. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 4 contracts

Sources: Limited Liability Company Agreement (Radnor Holdings Corp), Limited Liability Company Agreement (Radnor Holdings Corp), Limited Liability Company Agreement (Radnor Holdings Corp)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Operating Agreement or the Act applicable law shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 4 contracts

Sources: Operating Agreement (Beazer Homes Sales, Inc), Operating Agreement (Beazer Homes Sales, Inc), Operating Agreement (Beazer Homes Sales, Inc)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Operating Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 4 contracts

Sources: Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Clarksburg Skylark, LLC)

Liability of Members. No Member shall be liable as such for the liabilities liabilities, debts or obligations of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities liabilities, debts or obligations of the Company.

Appears in 3 contracts

Sources: Operating Agreement (GreenSky, Inc.), Operating Agreement (GreenSky, Inc.), Operating Agreement (GreenSky, Inc.)

Liability of Members. No Member shall be liable as such for the any liabilities or other obligations of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members any Member for any liabilities or other obligations of the Company.

Appears in 3 contracts

Sources: Operating Agreement (Success Acquisition Corp), Operating Agreement (Success Acquisition Corp), Operating Agreement (Success Acquisition Corp)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or the Officers for liabilities of the Company.

Appears in 3 contracts

Sources: Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC)

Liability of Members. No Member shall be liable as such a Member for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 3 contracts

Sources: Member Control and Operating Agreement (Investors Real Estate Trust), Operating Agreement (NHP Inc), Operating Agreement (NHP Inc)

Liability of Members. No Member by virtue of status as a Member, shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 3 contracts

Sources: Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC)

Liability of Members. No Member shall be liable as such for the -------------------- liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 2 contracts

Sources: Operating Agreement (Sempra Energy), Operating Agreement (Shiloh Industries Inc)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 2 contracts

Sources: Operating Agreement, Operating Agreement (Sokol David L)

Liability of Members. No Subject to Article XV hereof, no Member shall be liable as such for the liabilities of the CompanyCompany or any obligations of another Member. The failure of the Company a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement agreement or the Act shall not be grounds for imposing personal liability on the Members or Managing Member for liabilities of the Companylimited liability company.

Appears in 2 contracts

Sources: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)

Liability of Members. No Member shall be personally liable as such for the liabilities any debt, obligation or liability of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or Manager for liabilities of the Company.

Appears in 2 contracts

Sources: Operating Agreement (Cornerstone Core Properties REIT, Inc.), Operating Agreement (Cornerstone Healthcare Plus Reit, Inc.)

Liability of Members. No Member shall be liable in its capacity as such a Member for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement (Aeroflex Holding Corp.)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Managing Member(s) or the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Pegasus Communications Corp)

Liability of Members. No Member shall be liable as such for the debts, obligations or liabilities of the Company, including, without limitation, any liability under a judgment decree or order of a court. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities any of the CompanyMembers.

Appears in 1 contract

Sources: Operating Agreement

Liability of Members. No Except as set forth in Section 16.4, no Member shall be liable as such a Member for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (NHP Inc)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company a limited liability company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the this Company.

Appears in 1 contract

Sources: Operating Agreement (Acacia Research Corp)

Liability of Members. No Notwithstanding anything to the contrary herein contained, no Member shall be liable as such for the any debts, expenses, liabilities of the Company. The failure or obligations of the Company to observe any formalities except as otherwise agreed in writing by such Member or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Companyas provided by law.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Yahoo Inc)

Liability of Members. No Member shall will be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall will not be grounds for imposing personal liability on the Members any Member for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Sentex Sensing Technology Inc)

Liability of Members. No Member shall be liable as such for ----------- -------------------- the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Ashton Technology Group Inc)

Liability of Members. No Member in his, her or its capacity as a Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.. {A0035913.DOC}

Appears in 1 contract

Sources: Agreement for Purchase and Sale of Real Estate and Assets (Wastech, Inc.)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members or the Managers for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Melt Inc)

Liability of Members. No A Member shall not be liable as such a Member for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act Code shall not be grounds for imposing personal liability on the Members a Member for liabilities of the Company.

Appears in 1 contract

Sources: Limited Liability Company Agreement

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act applicable law shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Beazer Homes, LLC)

Liability of Members. No Member in his, her or its capacity as a Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Seafarer Exploration Corp)

Liability of Members. No Member shall be personally liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Imax Corp)

Liability of Members. No Member (as a Member) shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Gerrard Douglas A)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Company Agreement or the Act shall not be grounds for imposing personal liability on the Members or managers for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Cybershop International Inc)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or the management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on of the Members for any liabilities of the Company.

Appears in 1 contract

Sources: Assignment Agreement (Standish Care Co)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this the Operating Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Environmental Safeguards Inc/Tx)

Liability of Members. No Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this the Company Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Citi TeeVee LLC)

Liability of Members. No Member shall be liable as such either Member or as Manager for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Company Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.

Appears in 1 contract

Sources: Operating Agreement (Fibermark Office Products LLC)

Liability of Members. No Pursuant to the Act, the Articles of Organization and this Operating Agreement, no Member shall be liable as such for the liabilities of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company.relating

Appears in 1 contract

Sources: Operating Agreement (J C Nichols Co)

Liability of Members. No Member shall be liable as such for the liabilities of the CompanyCompany except as may be provided in the Act. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the CompanyCompany unless otherwise specified by the Act.

Appears in 1 contract

Sources: Operating Agreement (Nutrition Headquarters (De), Inc.)