Common use of Fiduciary Responsibilities Clause in Contracts

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 5 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 275.170 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 63.155 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0013.1-00-000 1024.1 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0035-008-000 310 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 25.15.038 of the ActCode, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActCode, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 10A-5A-4.08 of the ActLaw, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActLaw, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0029-00-000 3409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 86.298 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0021-00-000 138 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 7.001 of the Code and Section 101.401 of the Law, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Actthe Law, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 450.4404 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 489.409 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 29–804.09 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 183.0402 of the ActLaw, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActLaw, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 007-0080-000 404 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Sections 8849.2 and 8849.1 of the Act respectively, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Actthe Act or the Code, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0048-00-000 3a-409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Limited Liability Company Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 428- 409 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 12:1314 of the ActLaw, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActLaw, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 14-11- 305 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0029-00-000 3409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00Sections 304-00C:108 and 304-000 C:110 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00000-000 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0017-00-000 76,134 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Sections 23- 18-2-2 and 23-18-4-10 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 42:2C-39 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 25.15.038 of the ActCode, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActCode, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0034-00-000 255h of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00Sections 18-002016 and 18-000 2017 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActLaw, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Pursuant to Sections 1706.08, 1706.31 and 1706.311 of the Act, each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 10.50.135 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 4059 of the ActStatutes, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the ActStatutes, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 322C.0409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 15-3 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 004-0038-000 409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 Sections 3564 and 3977 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0057D-3-00-000 21 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 007-0016-000 17 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member Member, pursuant to Section 15-3 of the Act, shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 of the Actcare, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 347.088 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0047-00-000 34A-409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0010-0032.1-000 41 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0048-00-000 3a-409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 007-0080-000 404 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 0031B-4-00-000 409 of the Act, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

Fiduciary Responsibilities. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care described in Section 00-00-000 15115(D) of the ActAct and Section 25404 of the Law, subject to the limitations and clarifications applicable to such fiduciary duties set forth in this Agreement. Except for the duty of loyalty and the duty of care described in the Act, as modified by this Agreement, no Member shall have any fiduciary duty to the Company or its Members.

Appears in 1 contract

Samples: Operating Agreement

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