Common use of Corporate Administration Standard Clause in Contracts

Corporate Administration Standard. The Corporate Administrator shall use commercially reasonable efforts to provide such services to the Company in accordance with industry standards customary for administrative services of the same general type and character as those to be provided hereunder, in each case (i) as long as PMI is the Corporate Administrator, in accordance with the provisions of the Company’s Limited Liability Company Agreement (in particular the sections governing the limitations on the Company’s activities), (ii) as long as PMI is the Corporate Administrator, in accordance with the provisions of the Unanimous Written Consent of the Board of Directors of Prosper Marketplace, Inc. dated [TBD], (iii) in accordance with the Applicable Requirements, and (iv) without regard to: (A) any relationship that the Corporate Administrator or any Affiliate of the Corporate Administrator may have with the Company; or (B) the Corporate Administrator’s right to receive compensation for its administrative services hereunder. The standard set forth in the immediately preceding sentence shall be referred to herein as the “Corporate Administration Standard.”

Appears in 3 contracts

Samples: Administration Agreement (Prosper Funding LLC), Administration Agreement (Prosper Funding LLC), Administration Agreement (Prosper Funding LLC)

AutoNDA by SimpleDocs

Corporate Administration Standard. The Corporate Administrator shall use commercially reasonable efforts to provide such services to the Company in accordance with industry standards customary for administrative services of the same general type and character as those to be provided hereunder, in each case (i) as long as PMI is the Corporate Administrator, in accordance with the provisions of the Company’s Limited Liability Company Agreement (in particular the sections governing the limitations on the Company’s activities), (ii) as long as PMI is the Corporate Administrator, in accordance with the provisions of the Unanimous Written Consent of the Board of Directors of Prosper Marketplace, Inc. dated [TBD]October 23, 2012, (iii) in accordance with the Applicable Requirements, and (iv) without regard to: (A) any relationship that the Corporate Administrator or any Affiliate of the Corporate Administrator may have with the Company; or (B) the Corporate Administrator’s right to receive compensation for its administrative services hereunder. The standard set forth in the immediately preceding sentence shall be referred to herein as the “Corporate Administration Standard.”

Appears in 1 contract

Samples: Administration Agreement (Prosper Funding LLC)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!