Common use of Status of Members Clause in Contracts

Status of Members. No Member shall be bound by or personally liable for, the expenses, liabilities or obligations of the Company. The Company shall be directed and managed by the Member.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Kennedy-Wilson Properties (IL))

Status of Members. No Member shall will be bound by by, or be personally liable for, the expenses, liabilities or obligations of the Company. The Company shall be directed and managed by the Member.

Appears in 1 contract

Sources: Operating Agreement (Era Group Inc.)