DELAWARE ACT Sample Clauses
The "Delaware Act" clause defines references to the Delaware Limited Liability Company Act within an agreement. It clarifies that any mention of the Act includes all current and future amendments, as well as any successor statutes. This ensures that the agreement remains aligned with the most up-to-date legal framework governing Delaware LLCs, preventing ambiguity or the need for frequent contract revisions when the law changes.
DELAWARE ACT. The Delaware Limited Liability Company Act as in effect on the date hereof and as amended from time to time, or any successor law.
DELAWARE ACT. The term “
DELAWARE ACT the Delaware Limited Liability Company Act and any successor statute, as amended from time to time.
DELAWARE ACT. Notwithstanding anything in this Agreement to the contrary, the Partnership shall not make any distributions except to the extent permitted under the Delaware Act.
DELAWARE ACT. 1 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
DELAWARE ACT. Notwithstanding anything in this Agreement to the contrary, the Partnership shall not make any distributions pursuant to this Agreement to the extent such distribution would be prohibited under the Act or other applicable law. A Partner who receives a distribution in violation of this Section 4.6, and who knew at the time of the distribution that the distribution violated this Section 4.6, shall be liable to the Partnership for the amount of the distribution. A Partner who receives a distribution in violation of this Section 4.6, and who did not know at the time of the distribution that the distribution violated this Section 4.6, shall not be liable for the amount of the distribution.
DELAWARE ACT. This term means the Delaware Limited Liability Company Act.
DELAWARE ACT. To the extent that a Unitholder returns funds to the LLC, it has no claim against any other Unitholder for those funds.
DELAWARE ACT. ITIS will solicit the written consent of its stockholders as soon as practicable in order that the stockholders may consider and vote upon the adoption of this Agreement and the approval of the Merger in accordance with the Delaware Act. ITIS will deliver the Disclosure Document to its stockholders as soon as practicable following execution of this Agreement. The Disclosure Document will contain the affirmative recommendation of the board of directors of ITIS in favor of the adoption of this Agreement and the approval of the Merger; provided, however, that no director or officer of ITIS shall be required to violate any fiduciary duty or other requirement imposed by law in connection therewith.
DELAWARE ACT. 1.01 DEA............................................ 4.20