Common use of Discretion Clause in Contracts

Discretion. Notwithstanding anything to the contrary in this Agreement or any agreement contemplated herein or in any provisions of law or in equity, whenever in this Agreement, a person is permitted or required to make a decision (i) in its “sole discretion” or “discretion” or under a grant of similar authority or latitude, such person shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by law, have no duty or obligation to give any consideration to any interest of or factors affecting the Fund or the Members, or (ii) in its “good faith” or under another express standard, then such person shall act under such express standard.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (SCS Hedged Opportunities (1099) Fund, LLC), Limited Liability Company Agreement (SCS Hedged Opportunities Master Fund, LLC), Limited Liability Company Agreement (SCS Hedged Opportunities Fund, LLC)

AutoNDA by SimpleDocs

Discretion. Notwithstanding anything to the contrary in this Agreement or any agreement contemplated herein or in any provisions of law or in equity, whenever in this Agreement, a person Person is permitted or required to make a decision (i) in its “sole discretion” or “discretion” or under a grant of similar authority or latitude, such person Person shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by law, have no duty or obligation to give any consideration to any interest of or factors affecting the Fund or the Members, or (ii) in its “good faith” or under another express standard, then such person Person shall act under such express standard.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (AMG Pantheon Private Equity Master Fund, LLC), Limited Liability Company Operating Agreement (Silicon Valley Access Fund LLC), Limited Liability Company Operating Agreement (Morrison Street Income Fund, LLC)

Discretion. Notwithstanding anything to the contrary in this Agreement or any agreement contemplated herein or in any provisions of law or in equity, whenever in this Agreement, a person is permitted or required to make a decision (i) in its "sole discretion" or "discretion" or under a grant of similar authority or latitude, such person shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by law, have no duty or obligation to give any consideration to any interest of or factors affecting the Fund or the Members, or (ii) in its "good faith" or under another express standard, then such person shall act under such express standard.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (CPG Carlyle Master Fund, LLC), Limited Liability Company Agreement (HSBC Absolute Return Portolio LLC), Limited Liability Company Agreement (CPG Carlyle Commitments Master Fund, LLC)

Discretion. Notwithstanding anything to the contrary in this Agreement or any agreement contemplated herein or in any provisions of law or in equity, whenever in this Agreement, a person Person is permitted or required to make a decision (i) in its “sole discretion” or “discretion” or under a grant of similar authority or latitude, such person Person shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by law, have no duty or obligation to give any consideration to any interest of or factors affecting the Fund or the MembersShareholders, or (ii) in its “good faith” or under another express standard, then such person Person shall act under such express standard.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Popular U.S. Government Money Market Fund, LLC), Limited Liability Company Agreement (Popular U.S. Government Money Market Fund, LLC), Limited Liability Company Agreement (Popular U.S. Government Money Market Fund, LLC)

AutoNDA by SimpleDocs

Discretion. Notwithstanding anything to the contrary in this Agreement or any agreement contemplated herein or in any provisions of law or in equity, whenever in this Agreement, a person Person is permitted or required to make a decision (i) in its "sole discretion" or "discretion" or under a grant of similar authority or latitude, such person Person shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by law, have no duty or obligation to give any consideration to any interest of or factors affecting the Fund or the Members, or (ii) in its "good faith" or under another express standard, then such person Person shall act under such express standard.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (BBR ALO Fund, LLC), Limited Liability Company Agreement (CPG Cooper Square International Equity, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.