Common use of SELF-DEALING Clause in Contracts

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 8 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Managers, Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Managers, Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Manager, Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Manager, Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval Approval or ratification by a majority of the Members members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section, but shall not be required.

Appears in 8 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more of its Managers, Members, officers, or employees, or between the Company and any other entity or organization in which one or more of its Managers, Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Manager, Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Manager, Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval Approval or ratification by a majority of the Members members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section, but shall not be required.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 00-00-000 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 6 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 42:2C-39 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 4059 of the Statutes, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 15-3 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 428-409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 8849.1 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 00-00-000 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 63.155 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 12:1318 of the Law, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 1706.31 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 10A-5A-4.08 of the Law, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 35-8-310 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 101.255 of the Law, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 86.298 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 18-107 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such a transaction is permitted under this section.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 18-2016 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 411 of the Law, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 489.409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more of its Members, officers, or employees, or between the Company and any other entity or other organization in which one or more of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval Approval or ratification by a majority of the Members members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section, but shall not be required.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 17-7669 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

SELF-DEALING. Unless Pursuant to Section 57D-3-21 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 31B-4-409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

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SELF-DEALING. Unless Pursuant to Section 7-16-17 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 4-38-409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 4A-402 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 29–804.09 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 322C.0409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 13.1-1026 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 183.0402 of the Law, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 450.4409 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 10-32.1-41 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 605.04092 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Sections 347.088 and 347.093 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 21-138 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 275.170 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless Pursuant to Section 34-255h of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company DAO and one or more of its Members, officers, or employees, or between the Company DAO and any other entity or organization in which one or more of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company DAO or any other Person Member for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive circumstantial evidence that such transaction is permitted under this section.

Appears in 1 contract

Samples: Operating Agreement

SELF-DEALING. Unless entered into in bad faith, no contract or transaction between the Company and one or more of its Managers, Members, officers, or employees, or between the Company and any other entity or other organization in which one or more of its Managers, Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Manager, Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Manager, Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval Approval or ratification by a majority of the Members members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this section, but shall not be required.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

SELF-DEALING. Unless Pursuant to Section 3957 of the Act, and unless entered into in bad faith, no contract or transaction between the Company and one or more any of its Members, officers, or employees, or between the Company and any other entity or organization in which one or more any of its Members, officers, or employees have a financial interest or are owners, managers, partners, directors, officers, or employees, shall be voidable solely for this reason or solely because such Member, officer, or employee was present or participated in the authorization of such contract or transaction. No Member, officer, or employee interested in such contract or transaction, because of such interest, shall be considered to be in breach of this Agreement or liable to the Company or any other Person for any loss or expense incurred by reason of such contract or transaction or shall be accountable for any gain or profit realized from such contract or transaction. While not required, approval or ratification by a majority of the Members having no interest in the transaction constitutes conclusive evidence that such transaction is permitted under this sectionSection.

Appears in 1 contract

Samples: Operating Agreement

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