LLC Act definition

LLC Act means the Delaware Limited Liability Company Act, as amended.

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LLC Act means the Delaware Limited Liability Company Act, as amended from time to time; provided, however, that if any amendment to the LLC Act, or any succeeding or successor law, is applicable to the Company only if the Company has elected to be governed by the LLC Act as so amended or by such succeeding or successor law, as the case may be, the term "LLC Act" shall refer to the LLC Act as so amended or to such succeeding or successor law only after the appropriate election by the Board with the Consent of the Members.

LLC Act has the meaning set forth in the Recitals.

Examples of LLC Act in a sentence

The Liquidator will (i) prepare or cause to be prepared a statement setting forth the assets and liabilities of the Company as of the date of dissolution and shall provide a copy of such statement to all of the Members and (ii) proceed diligently and in good faith, and in an orderly, businesslike and commercially reasonable manner, to wind up the affairs of the Company and make final distributions as provided herein and in the LLC Act.
The business and affairs of the Company shall be managed by the Managers elected in accordance with this Section 6.1 acting exclusively through the Board in accordance with the LLC Act and this Agreement, except as expressly delegated to any other Person by the Board or this Agreement.
To the fullest extent permitted by the LLC Act, the indemnification and advancement of expenses provided by, or granted pursuant to, this Article X shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a Manager or Officer and shall inure to the benefit of the heirs, executors and administrators of such a person.
Any indemnification under this Article X (unless ordered by a court) shall be made by the Company (a) only as authorized in the specific case upon a determination that indemnification of the present or former Manager or Officer is proper in the circumstances because such person has met the applicable standard of conduct set forth in Section 10.2 or Section 10.3, as the case may be, and (b) to the fullest extent permitted by the LLC Act.
The provisions of this Article X shall not be deemed to preclude the indemnification of any person who is not specified in Section 10.2 or Section 10.3 but whom the Company has the power or obligation to indemnify under the provisions of the LLC Act, or otherwise.

More Definitions of LLC Act

LLC Act has the meaning set forth in the Preamble to this Agreement.

LLC Act means the Delaware Limited Liability Company Act, as amended, as in effect on the date hereof (currently Chapter 18 of Title 6, Sections 18-101 through 18-1109 of the Delaware Code) and as it may be amended hereafter, from time to time.

LLC Act shall have the meaning set forth in Section 2.2.

LLC Act means the Delaware Limited Liability Company Act, as set forth in Del. Code ▇▇▇. Tit. 6, Sections 18-101, et seq. and any successor statute, as the same may be amended from time to time.

LLC Act is defined in the Recitals to this Agreement.

LLC Act means the Limited Liability Company Act of the State of Delaware.

LLC Act has the meaning specified in the first Recital of this Agreement.