Duties and Obligations of Managers. The Managers must take all actions necessary or appropriate (a) for the continuation of the Company’s valid existence as a limited liability company under the laws of the State of Delaware and of each other jurisdiction in which such existence is necessary to protect the limited liability of the Member or to enable the Company to conduct the business in which it is engaged and (b) for the accomplishment of the Company’s purposes.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Moody National REIT I, Inc.), Agreement and Plan of Merger (Moody National REIT II, Inc.), Termination Agreement (ZAIS Financial Corp.)
Duties and Obligations of Managers. The Managers must take all actions necessary or appropriate (a) for the continuation of the Company’s 's valid existence as a limited liability company under the laws of the State of Delaware and of each other jurisdiction in which such existence is necessary to protect the limited liability of the Member or to enable the Company to conduct the business in which it is engaged and (b) for the accomplishment of the Company’s 's purposes.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (MVP REIT, Inc.), Agreement and Plan of Merger (MVP REIT II, Inc.)
