Common use of Good Faith Reliance Clause in Contracts

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the existence and amount of assets from which distributions to the Members might properly be paid.

Appears in 6 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (PennyMac Financial Services, Inc.), Limited Liability Company Agreement (ZAIS Group Holdings, Inc.)

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Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s 's professional or expert competence and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits, losses or net cash flow or any other facts pertinent to the existence and amount of assets from which distributions to the Members might properly be paid.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Farmstead Telephone Group Inc)

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the existence and amount of assets from which distributions to the Members Member might properly be paid.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person person or entity as to matters the Covered Person reasonably believes are within such other Personperson’s or entity’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the existence and amount of assets from which distributions to the Members might properly be paid.

Appears in 1 contract

Samples: Limited Liability Company Agreement (GP.com Holding Company, LLC.)

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Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports reports, or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or expert competence (including financial statements and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports reports, or statements as to the value and or amount of the assets, liabilities, Net Income, Net Profits, or Net Losses of the Company or any other facts pertinent to the existence and amount of assets from which distributions to the Members Distributions might properly be paid.) of the following Persons or groups:

Appears in 1 contract

Samples: Operating Agreement

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