Duties of the Manager and its 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 Manager and its officers and directors shall be the same as the duties and obligations owed to a corporation organized under DGCL by its officers and directors, respectively, and (ii) the duties and obligations owed to the Members by the Manager and its officers and directors shall be the same as the duties and obligations owed to the stockholders of a corporation under the DGCL by its officers and directors, respectively.
Appears in 47 contracts
Samples: Operating Agreement (Fundrise eFund, LLC), Operating Agreement (Fundrise East Coast Opportunistic REIT, LLC), Operating Agreement (Fundrise Growth eREIT III, LLC)
Duties of the Manager and its Officers and Directors. (a) Except as otherwise expressly provided in Section 5.6 or elsewhere in this Agreement or required by the Delaware Act, (i) the duties and obligations owed to the Company by the Manager and its officers and directors shall be the same as the duties and obligations owed to a corporation organized under DGCL by its officers and directors, respectively, and (ii) the duties and obligations owed to the Members by the Manager and its officers and directors shall be the same as the duties and obligations owed to the stockholders of a corporation under the DGCL by its officers and directors, respectively.
Appears in 2 contracts
Samples: Operating Agreement (NY Residential REIT, LLC), Operating Agreement (NY Residential REIT, LLC)
