Common use of Liability of the General Partner Clause in Contracts

Liability of the General Partner. (a) Notwithstanding anything to the contrary set forth in this Agreement, neither the General Partner nor the Business Manager, nor any of their respective officers and directors, shall be liable for monetary damages to the Partnership, any Partners or any Assignees for losses sustained or liabilities incurred as a result of errors in judgment or mistakes of fact or law or of any act or omission unless the General Partner or the Business Manager, as the case may be, acted in bad faith and the act or omission was material to the matter giving rise to the loss, liability or benefit not derived. (b) (i) Subject to its obligations and duties as General Partner set forth in Section 7.1(a) hereof, the General Partner may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agent, including the Business Manager.

Liability of the General Partner. (a) Notwithstanding anything to the contrary set forth in this Agreement, neither the General Partner nor the Business Manager, Advisor nor any of their respective officers and directors, shall be liable for monetary damages to the Partnership, any Partners or any Assignees for losses sustained or liabilities incurred as a result of errors in judgment or mistakes of fact or law or of any act or omission unless the General Partner or the Business ManagerAdvisor, as the case may be, acted in bad faith and the act or omission was material to the matter giving rise to the loss, liability or benefit not derived. (b) (i) Subject to its obligations and duties as General Partner set forth in Section 7.1(a) hereof, the General Partner may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agent, including the Business ManagerAdvisor.

Liability of the General Partner. (a) Notwithstanding anything to the contrary set forth in this Agreement, neither the General Partner nor the Business Manager, Manager nor any of their respective officers and directors, shall be liable for monetary damages to the Partnership, any Partners or any Assignees for losses sustained or liabilities incurred as a result of errors in judgment or mistakes of fact or law or of any act or omission unless the General Partner or the Business Manager, as the case may be, acted in bad faith and the act or omission was material to the matter giving rise to the loss, liability or benefit not derived. (b) (i) Subject to its obligations and duties as General Partner set forth in Section 7.1(a) hereof, the General Partner may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agent, including the Business Manager.