Compensation of Managers; Expenses. The Managers will not receive any compensation. However, the Managers shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board of Managers. No such payment shall preclude any Manager from serving the Company in any other capacity.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement (Capital Southwest Corp), Limited Liability Company Operating Agreement, Limited Liability Company Agreement (KCAP Financial, Inc.)
Compensation of Managers; Expenses. The Managers will shall not receive any compensation. However, the though Managers shall may be reimbursed for paid their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board Board, which may be a fixed sum for attendance at each meeting of Managersthe Board. No such payment shall preclude any Manager from serving the Company in any other capacitycapacity and receiving compensation therefor.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (SLM Education Credit Funding LLC), Operating Agreement (SLM Education Credit Funding LLC), Limited Liability Company Operating Agreement (SLM Education Credit Funding LLC)
Compensation of Managers; Expenses. The Managers will shall not receive any compensation. However, the Managers shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board of ManagersBoard. No such payment shall preclude any Manager from serving the Company in any other capacitycapacity and receiving compensation for those services provided that prior Board Approval has been obtained for such services and compensation.
Appears in 1 contract
Samples: Limited Liability Company Agreement (MONROE CAPITAL Corp)
Compensation of Managers; Expenses. The Managers will not receive any compensation. However, the Managers shall be reimbursed for their reasonable out-of-pocket expenses, if any, of attendance at meetings of the Board of ManagersBoard. No such payment shall preclude any Manager from serving the Company in any other capacitycapacity and receiving compensation therefor.
Appears in 1 contract
Samples: Securities Purchase Agreement (Horizon Technology Finance Corp)
