Performance of Duties; Liability of Managers. Except as may otherwise -------------------------------------------- be provided in the Employment Agreement, a Manager shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member, unless the loss or damage shall have been the result of fraud, deceit, gross negligence, reckless or intentional misconduct, or a knowing violation of law by the Manager.
Appears in 2 contracts
Samples: Operating Agreement (Auto Marketing Network Inc), Operating Agreement (Franchise Mortgage Acceptance Co)
Performance of Duties; Liability of Managers. Except as may otherwise -------------------------------------------- be provided in the Employment Agreement, a No Manager shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member, unless the loss or damage shall have been was the result of fraud, deceit, gross negligence, reckless or intentional misconduct, or a knowing violation of law by such Manager. The Managers shall perform managerial duties in good faith, in a manner reasonably believed to be in the Managerbest interests of the Company and its Members.
Appears in 1 contract
Samples: Operating Agreement (Red Rock Pictures Holdings, Inc)
Performance of Duties; Liability of Managers. Except as may otherwise -------------------------------------------- be provided in the Employment Agreement, a Manager 6.6.1 The Managers shall not be liable to the Company or to any Member for any loss or damage sustained by the Company or any Member, unless the loss or damage shall have been the result of fraud, deceit, gross negligence, reckless or intentional misconduct, or a knowing violation of law by the such Manager.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Versity Invest, LLC)
