Liability to Third Parties Based on Unauthorized Acts Sample Clauses

Liability to Third Parties Based on Unauthorized Acts. It is agreed that no Venturer shall act as the agent of the other Venturer without an express written authorization to act as an agent, and any act by a Venturer as an agent, without proper authorization, shall create a separate liability in the Venturer so acting to any and all third parties affected. Any contract entered into by a Venturer that is outside the scope of this Agreement will not be binding on the other Venturer, and only the Venturer entering into that contract shall be liable to third parties.
View SourceView Similar (3)

Related to Liability to Third Parties Based on Unauthorized Acts

  • Liability to Third Parties The Member shall not be liable for the debts, obligations or liabilities of the Company, including under a judgment, decree or order of a court.

  • Disclosure to Third Parties The Company shall have the right to disclose to third parties, in whatever manner the Company may determine, the fact that this Agreement has been executed, the names of the parties to this Agreement and the terms hereof.

  • No Liability to Third Parties No person who is or has been a Trustee, officer, or employee of the Trust shall be subject to any personal liability whatsoever to any Person, other than the Trust or its Shareholders, in connection with the affairs of the Trust; and all Persons shall look solely to the Trust Property or Property of a Series for satisfaction of claims of any nature arising in connection with the affairs of the Trust or such Series. Every note, bond, contract, instrument, certificate, Share or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been executed or done only in or with respect to their or his capacity as Trustees or Trustee and neither such Trustees or Trustee nor the Shareholders shall be personally liable thereon. All Persons extending credit to, contracting with or having any claim against the Trust or a Series shall look only to the assets of the Trust Property or the Trust Property of such Series for payment under such credit, contract or claim; and neither the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor.

  • Non-Third Party Claims Upon discovery of any claim for which Buyer has an indemnification obligation under the terms of Section 12.1 which does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Buyer of such claim and, in any case, shall give Buyer such notice within 30 days of such discovery. A failure by Indemnitee to timely give the foregoing notice to Buyer shall not excuse Buyer from any indemnification liability except to the extent that Buyer is materially and adversely prejudiced by such failure.

  • Liability for Unauthorized Transactions Protection from Unauthorized Transactions What is an Unauthorized Transaction What is not considered an Unauthorized Transaction Reporting an Unauthorized Transaction Error Resolution What is an Error