Duties of Officers and Directors. (a) Except as otherwise expressly provided in this Agreement or required by the Delaware Act, (i) the duties and obligations owed to the Company by the Officers and Directors shall be the duty of care and duty of loyalty owed to a corporation organized under DGCL by its officers and directors, respectively, and (ii) the duty of care and duty of loyalty owed to the Members by the Officers and Directors shall be the same as the duty of care and duty of loyalty owed to the stockholders of a corporation under the DGCL by its officers and directors, respectively.
Appears in 10 contracts
Samples: Operating Agreement (Brookfield Oaktree Holdings, LLC), Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement
Duties of Officers and Directors. (a) Except as otherwise expressly provided in this Agreement or required by the Delaware Act, (ia) the duties and obligations owed to the Company by the Officers officers and Directors shall be the duty of care and duty of loyalty owed to a corporation organized under DGCL by its officers and directorsDirectors, respectively, and (iib) the duty of care and duty of loyalty owed to the Members by the Officers officers and Directors shall be the same as the duty of care and duty of loyalty owed to the stockholders of a corporation under the DGCL by its officers and directorsDirectors, respectively.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Belpointe PREP, LLC), Limited Liability Company Operating Agreement (Belpointe PREP, LLC)
Duties of Officers and Directors. (a) Except as otherwise expressly provided in this Agreement or required by the Delaware Act, (i) the duties and obligations owed to the Company by the Officers and Directors shall be the duty of care and the duty of loyalty owed to a corporation organized under the DGCL by its officers and directors, respectively, and (ii) the duty of care and the duty of loyalty owed to the Members by the Officers and Directors shall be the same as the duty of care and the duty of loyalty owed to the stockholders of a corporation under the DGCL by its officers and directors, respectively.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Five Point Holdings, LLC), Limited Liability Company Agreement (Five Point Holdings, LLC)
