Common use of Standard of Care; Independent Managers Clause in Contracts

Standard of Care; Independent Managers. (a) A Manager shall owe such fiduciary duties of loyalty and due care to MART as is required of a director of a Delaware corporation under applicable Delaware law. Every Manager shall discharge his or her duties in good faith, with the care an ordinary prudent person in a like position would exercise under similar circumstances, and in a manner her or she reasonably believes to be in the best interest of MART.

Standard of Care; Independent Managers. (a) A Manager shall owe such fiduciary duties of loyalty and due care to MART II as is required of a director of a Delaware corporation under applicable Delaware law. Every Manager shall discharge his or her duties in good faith, with the care an ordinary prudent person in a like position would exercise under similar circumstances, and in a manner her he or she reasonably believes to be in the best interest of MARTMART II.