Limitation on Liability of General Partner Clause Samples

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Limitation on Liability of General Partner. The General Partner (including its members, officers, directors, agents, employees and representatives) shall not be liable or responsible in damages or otherwise to the Partnership or any Partner for any liability or loss relating to the performance or nonperformance of any act concerning the business of the Partnership, provided the General Partner was not guilty of gross negligence or willful misconduct.
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Limitation on Liability of General Partner. Indemnification The General Partner (or any Person directly or indirectly owning an interest in the General Partner or any officer or employee or partner of any such Person) shall not be liable, responsible or accountable in damages or otherwise to any other Partner or to the Partnership for any acts performed or failure to act by the General Partner (or any Person directly or indirectly owning an interest in the General Partner or any officer or partner or employee of any such Person) in good faith and in a manner reasonably believed by it to be within the scope of authority granted to it by this Agreement, unless such act or failure to act is attributable to gross negligence, willful misconduct, or any breach of its fiduciary duty with respect to such act or failure to act. The Partnership (but not any Partner) shall indemnify and hold harmless the General Partner (and each Person directly or indirectly owning an interest in the General Partner or any officer or employee or partner of any such Person) for any loss, damage, liability, cost or expense (including reasonable attorneys fees) arising out of any act or failure to act by the General Partner (or any Person directly or indirectly owning an interest in the General Partner or any officer or employee or partner of any such Person), if such act or failure to act is in good faith and in a manner reasonably believed by it to be within the scope of the authority granted to it by this Agreement and is not attributable to gross negligence, willful misconduct, or any breach of its fiduciary duty with respect to such act or failure to act. Any indemnity under this Section 3.4 shall be paid from, and only to the extent of, Partnership assets and no Partner shall have any personal liability on account thereof.
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Limitation on Liability of General Partner. INDEMNIFICATION (a) The General Partner and its Affiliates performing services on behalf of the Partnership, and within the scope of the General Partner's and its Affiliates' capacity, shall have no liability to the Partnership or to any Partner for any loss suffered by the Partnership which arises out of any action or inaction of the General Partner or its Affiliates if the General Partner or its Affiliates in good faith determined that such course of conduct was in the best interest of the Partnership and such course of conduct did not constitute negligence or misconduct of the General Partner or its Affiliates. The General Partner and its Affiliates performing services on behalf of the Partnership shall be indemnified by the Partnership against any losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by them in connection with the business of the Partnership, provided that the General Partner or its Affiliates in good faith determined that their course of conduct was in the best interest of the Partnership and provided further that such course of conduct did not constitute negligence or misconduct by the General Partner or its Affiliates. 19 20 (b) Notwithstanding anything to the contrary contained in subsection (a), the General Partner and its Affiliates performing services on behalf of the Partnership and any Person acting as a broker-dealer shall not be indemnified for any losses, liabilities or expenses, including attorneys' fees, arising from or out of an alleged violation of Federal or state securities laws or rules unless (i) there has been a successful adjudication on the merits of each count involving alleged securities law violations as to the particular indemnitee and the court approves litigation costs, or (ii) a court of competent jurisdiction approves a settlement of the claims against a particular indemnitee and the court finds that indemnification of the settlement and related costs should be made.
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Limitation on Liability of General Partner. Except as set forth in the Holdings Guaranty, the Obligations shall be nonrecourse to General Partner, except to the extent of its partnership interests in Company and Holdings. Any liability of General Partner in respect of the Obligations shall be specifically limited to the interests of General Partner and in its partnership interests in Company and Holdings, and no other assets of General Partner shall be subject to any claims as a result hereof. Except as set forth herein or in the Loan Documents, each Lender acknowledges and agrees that no director, officer, employee, incorporator, stockholder or limited partner of the Company, as such, shall have any liability for any obligations of Company or for any claim based on, in respect of, or by reason of, such obligations or their creation.
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Limitation on Liability of General Partner. Indemnification Neither the General Partner nor any affiliate (for purposes of this Section 5.8 hereof "affiliate" shall mean any person performing services on behalf of the Partnership who (1) directly controls, is controlled by, or is under common control with, the General Partner or the Associate Limited Partners; or (2) owns or controls 10% or more of the outstanding voting securities of the General Partner or the Associate Limited Partners; or (3) is an officer, director, partner or trustee of the General Partner or the Associate Limited Partners; or (4) if the General Partner is an officer, director, partner or trustee, any company for which the General Partner acts in any such capacity) thereof engaged in the performance of services on behalf of the Partnership (the "Indemnified Parties") shall be liable, responsible or accountable in damages or otherwise to any Holder for any act or omission performed or omitted by such Indemnified Party pursuant to the authority granted to such Indemnified Party by this Agreement or by law if the General Partner or its affiliates have determined, in good-faith, that the act or omission which caused the loss or liability was in the best interests of the Partnership and such liability was not the result of misconduct or negligence. The Partnership shall indemnify and hold harmless each Indemnified Party from and against any loss or liability suffered or sustained by him by reason of any acts, omissions or alleged acts or omissions arising out of his activities on behalf of the Partnership or in furtherance of the interests of the Partnership, including, but not limited to, any judgment, award, settlement, reasonable attorneys' fees and other costs or expenses incurred in connection with the defense of any pending or threatened action, proceeding or claim and including any payments made by the General Partner to any of its officers or directors who are affiliates pursuant to an indemnification agreement no broader than this Section 5.8; provided that the General Partner or its affiliates have determined, in good faith, that the act or omission which caused the loss or liability was in the best interests of the Partnership and such loss or liability was not the result of misconduct or negligence by such Indemnified Party. The satisfaction of any indemnification and any saving harmless shall be from and limited to Partnership assets, and no Limited Partner shall have any personal liability on account thereof. Notwithst...
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Limitation on Liability of General Partner. The General Partner and its Affiliates, as well as their partners, members, officers, directors, agents and employees, shall not be liable, responsible or accountable in damages or otherwise to the Partnership or any of the Partners or their successors or assigns for any acts performed or omitted within the scope of the General Partner’s authority as General Partner, or otherwise conferred on the General Partner and its Affiliates, as well as their partners, members, officers, directors, agents and employees, by this Agreement, provided that the General Partner or such Affiliates, partners, members, officers, directors, agents and employees, shall act in good faith and shall not be guilty of willful misconduct or gross negligence.
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Limitation on Liability of General Partner. Indemnification. The General Partner shall not be liable, responsible, or accountable in damages or otherwise to any Limited Partner for any act or omission performed or omitted by it in good faith pursuant to the authority granted to it by this Agreement in a manner reasonably believed by it to be within the scope of the authority granted to it by this Agreement and not opposed to the best interests of the Partnership or the Limited Partner; provided, however, that the General Partner shall not be relieved of liability with respect to any claim, issue, or matter as to which it or any Affiliate shall have been adjudged to be liable for gross negligence, fraud, or bad faith in the performance of its fiduciary duty to the Limited Partners. Except in the case of any such judgment of liability, the Partnership shall indemnify the General Partner against any loss or damage incurred by it in connection with any such act or omission performed by it in good faith pursuant to the authority granted to it in this Agreement in a manner reasonably believed by it to be within the scope of such authority and not opposed to the best interests of the Partnership or the Limited Partner, and against expenses (including attorneys' fees) actually and reasonably incurred by it in connection with the defense or settlement of any threatened, pending or completed action or suit by any Person in connection with any such act or omission. The satisfaction of any obligation to indemnify and hold the General Partner harmless shall be from and limited to Partnership assets, and no Partner shall have any personal liability on account thereof.
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Limitation on Liability of General Partner. The General Partner, as general partner of Borrower, shall not be liable for the obligations of Borrower under this Mortgage, including, without limitation, by reason of any payment obligation imposed by governing state partnership statutes and any provision of the applicable limited partnership agreement of Borrower that requires the General Partner to restore a capital account deficit.
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Limitation on Liability of General Partner. No General Partner of the Partnership shall be liable to the Partnership or its Partners for monetary damages for breach of fiduciary duty as a General Partner; provided that nothing contained herein shall eliminate or limit the liability of a General Partner: (a) for any breach of the General Partner’s duty of loyalty to the Partnership or its Partners; (b) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law; and (c) for any transaction from which the General Partner derived an improper personal benefit.
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Related to Limitation on Liability of General Partner

  • Limitation on Liability of Limited Partners No Limited Partner shall be liable for any debts, liabilities, contracts or obligations of the Partnership. A Limited Partner shall be liable to the Partnership only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Limited Partner shall, except as otherwise required by the Act, be required to make any further Capital Contributions or other payments or lend any funds to the Partnership.

  • Limitation on Liability of Manager Unless arising as a result of their gross negligence, the Manager and the Institution shall not be liable to the Resident for any loss or damage, however caused to the Resident, the property of the Resident or to the property of the Resident’s guest(s) while in the Residence or on the lands on which the Residence is situated. Without limiting the generality of the foregoing, such property includes and is not limited to, personal property of the Resident (including their vehicle(s) and their contents) and damage includes and is not limited to; damage caused by the failure of the plumbing or heating system or any other building system, defects in the structure of the Building, water or snow penetration, exterior weather conditions, damage arising from any cause beyond the control of the Manager or Institution, and any damage or injury arising from the activities of employees, contractors or agents of the Manager and the Institution. The Resident agrees that by executing the Agreement and residing in the Residence, they are acknowledging that they understand and freely assume the risks associated with communal living, including but not limited to risks of potential exposure to physical, mental or emotional harm or injury, communicable diseases and other contagious viruses. Accordingly, the Resident on their own behalf and on behalf of their successors, beneficiaries and next of kin hereby waives their right to demand or make any claim against (and indemnifies, releases and covenants and agrees to hold harmless each of) the Manager, the Institution, their agents, contractors, officers, directors, governors, management, successors, assigns, students and employees from or in relation to any and all damages, physical or other harm, death, ▇▇▇▇▇▇▇▇▇, claims, expenses or loss due to any cause whatsoever, including negligence, breach of contract, or breach of any statutory or other duty of care (collectively, “Claims”) arising under or related to this Student Residence Agreement and the provision of services or accommodation, including but not limited to exposure to communicable diseases and contagious viruses. The Resident further agrees to take all reasonable precautions and follow recommendations by public health authorities to mitigate the spread of communicable diseases while living in the Residence community. Failure to follow the Student Residence Agreement and measures related to said communicable diseases (including but not limited to Covid-19), or failure to follow directions from staff regarding communicable disease related rules or measures may result in standards action up to and including eviction from residence.

  • Limitation on Liability The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Underwriter with respect to the offering of the Securities exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations to contribute pursuant to this Section 7 are several in proportion to their respective purchase obligations hereunder and not joint.

  • Limitation on Liabilities IF EITHER THE EXECUTIVE OR THE COMPANY IS AWARDED ANY DAMAGES AS COMPENSATION FOR ANY BREACH OR ACTION RELATED TO THIS AGREEMENT, A BREACH OF ANY COVENANT CONTAINED IN THIS AGREEMENT (WHETHER EXPRESS OR IMPLIED BY EITHER LAW OR FACT), OR ANY OTHER CAUSE OF ACTION BASED IN WHOLE OR IN PART ON ANY BREACH OF ANY PROVISION OF THIS AGREEMENT, SUCH DAMAGES SHALL BE LIMITED TO CONTRACTUAL DAMAGES AND SHALL EXCLUDE (I) PUNITIVE DAMAGES, AND (II) CONSEQUENTIAL AND/OR INCIDENTAL DAMAGES (E.G., LOST PROFITS AND OTHER INDIRECT OR SPECULATIVE DAMAGES). THE MAXIMUM AMOUNT OF DAMAGES THAT THE EXECUTIVE MAY RECOVER FOR ANY REASON SHALL BE THE AMOUNT EQUAL TO ALL AMOUNTS OWED (BUT NOT YET PAID) TO THE EXECUTIVE PURSUANT TO THIS AGREEMENT THROUGH ITS NATURAL TERM OR THROUGH ANY SEVERANCE PERIOD, PLUS INTEREST ON ANY DELAYED PAYMENT AT THE MAXIMUM RATE PER ANNUM ALLOWABLE BY APPLICABLE LAW FROM AND AFTER THE DATE(S) THAT SUCH PAYMENTS WERE DUE.

  • No Limitation on Liability Such insurance as required herein shall not be deemed to limit Contractor’s liability relating to performance under this Contract. District reserves the right to require complete certified copies of all said policies at any time. The procuring of insurance shall not be construed as a limitation on liability or as full performance of the indemnification and hold harmless provisions of this Contract. Contractor understands and agrees that, notwithstanding any insurance, Contractor’s obligation to defend, indemnify, and hold District, its trustees, officials, agents, volunteers, and employees harmless hereunder is for the full and total amount of any damage, injuries, loss, expense, costs, or liabilities caused by or in any manner connected with or attributed to the acts or omissions of Contractor, its officers, agents, subcontractors (of all tiers), employees, licensees, patrons, or visitors, or the operations conducted by Contractor, or the Contractor’s use, misuse, or neglect of the District’s premises.