Common use of Liability to Partners Clause in Contracts

Liability to Partners. No Partner of the Partnership or director, officer, partner, or employee of a Partner shall be liable to the Partnership or to any Partner for any losses sustained or liabilities incurred as a result of any act or omission if (i) such person acted in good faith and in a manner it reasonably believed to be in, or not opposed to, the best interests of the Partnership, and (ii) its conduct did not constitute gross negligence or willful or wanton misconduct.