Duties of the Managing Member. (a) Except as provided in Section 3.2(b), neither the Managing Member nor any other Managing Member Associate shall be required to devote its full time or any material portion of its time to the business and affairs of the Company.
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)
Duties of the Managing Member. (a) Except as provided in Section 3.2(b3.3(b), neither the Managing Member nor any other Managing Member Associate shall be required to devote its full time or any material portion of its time to the business and affairs of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC)
