Limited Liability of Member. Except as otherwise provided by the LLC Act or expressly assumed, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Detroit Edison Securitization Funding LLC), Limited Liability Company Agreement (Detroit Edison Securitization Funding LLC)