Common use of Payments to Members Clause in Contracts

Payments to Members. Except as specified in this Agreement or pursuant to a transaction permitted by Section 4.7, no Member or person or entity controlled by, controlling or under common control with the Member (each such person or entity is defined as an “Affiliate”), is entitled to remuneration for services rendered or goods provided to the Company. However, the Company shall reimburse the Members and their Affiliates for organizational expenses (including, without limitation, legal and accounting fees and costs) incurred to form the Company, prepare the Articles and this Agreement and, as approved by the Members, for the actual cost of goods and materials used by the Company.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Bonn Edward J)

AutoNDA by SimpleDocs

Payments to Members. Except as specified in this Agreement or pursuant to a transaction permitted by Section 4.74.6, no Member or person or entity controlled by, controlling or under common control with the Member (each such person or entity is defined as an "Affiliate"), is entitled to remuneration for services rendered or goods provided to the Company. However, the Company shall reimburse the Members and their Affiliates for organizational expenses (including, without limitation, legal and accounting fees and costs) incurred to form the Company, prepare the Articles and this Agreement and, as approved by the Members, for the actual cost of goods and materials used by the Company.

Appears in 1 contract

Samples: Operating Agreement

Payments to Members. Except as specified in this Agreement or pursuant to a transaction permitted by Section 4.74.6, no Member or person or entity controlled by, controlling or under common control with the Member (each such person or entity is defined as an “Affiliate”"AFFILIATE"), is entitled to remuneration for services rendered or goods provided to the Company. However, the Company shall reimburse the Members and their Affiliates for organizational expenses (including, without limitation, reasonable legal and accounting fees and costs) incurred to form the Company, prepare the Articles and this Agreement Agreement, including amendments to the same, and, as approved by the Members, for the actual cost of goods and materials used by the Company.

Appears in 1 contract

Samples: Operating Agreement (Vans Inc)

AutoNDA by SimpleDocs

Payments to Members. Except as specified in this Agreement or pursuant to a transaction permitted by Section 4.7Agreement, no Member or person or entity controlled by, controlling or under common control with the Member (each such person or entity is defined as an “Affiliateaffiliate”), is entitled to remuneration for services rendered or goods provided to the Company. However, the Company shall reimburse the Members and their Affiliates for organizational expenses (including, without limitation, legal and accounting fees and costs) incurred to form the Company, prepare the Articles and this Agreement and, as approved by the Members, for the actual cost of goods and materials used by the Company.

Appears in 1 contract

Samples: Operating Agreement

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