Determination and Calculation of Liabilities. (a) The Managing Member shall determine the amount of the Liabilities in accordance with generally accepted accounting principles (except as otherwise provided in Section 8.3(c) or in the Offering Circular.
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)