Compensation of Member. The Company shall have ---------------------- authority to pay to the Member reasonable compensation for the Member's services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section shall be determined without regard to the income of the Company, shall not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an operating expense of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Txu Transition Bond Co LLC)
Compensation of Member. The Company shall have ---------------------- authority to pay to the Member reasonable compensation for the Member's services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an operating expense of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Central & South West Corp)
Compensation of Member. The Company shall have ---------------------- authority to pay to the Member reasonable compensation for the Member's ’s services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section shall be determined without regard to the income of the Company, shall not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an operating expense of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (NCA Resources Development Co LLC)
Compensation of Member. The Company shall have ---------------------- authority to pay to the Member reasonable compensation for the Member's services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section shall be determined without regard to the income of the Company, shall not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an operating expense of the Company.. 3.03
Appears in 1 contract
Samples: Pp&l Transition Bond Co Inc
