Common use of Agreements with the Series Managers Clause in Contracts

Agreements with the Series Managers. (a) All Members recognize that the Series of the Company will enter into agreements from time to time with the Series Managers or their affiliates for services in connection with development and operation of its Series business. (b) With respect to any other agreement between the Company or any Series of the Company and the Series Managers, or their affiliates, the Members hereby agree and consent that such agreements shall provide for normal and competitive fees to be paid by such Series of the Company, representing reasonable profit and overhead allowances to the contracting parties. (c) The duty of the Series Managers to the Series of the Company and to the Members with respect to the negotiation, execution, delivery, administration, amendment and termination of agreements described in Sections 8.6(a) through 8.6(b) shall be to act in good faith and in a commercially reasonable manner as established by applicable usages of trade. (d) The foregoing provisions are specifically included herein for the benefit of the Series of the Company and all the Members to enable such Series of the Company to operate efficiently and expeditiously, consistent with the standards set forth, and the Members hereby waive and release any claims they may have under the Act for any contracts or agreements entered into by the Series Managers which are consistent with the provisions of this Section 8.6.