Common use of Duty of Care of Managers and Officers Clause in Contracts

Duty of Care of Managers and Officers. Except to the extent otherwise provided herein: (a) Each Manager and officer of the Company will, to the fullest extent permitted by law, including Section 18-1101(c) of the Act, discharge his or her duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner the Manager reasonably believes to be in the best interests of the Company. (b) Each Manager and officer of the Company may rely on information or advice received from other persons if that reliance is consistent with the standard of care set forth in Section 4.15(a) above.

Duty of Care of Managers and Officers. Except to the extent otherwise provided herein: (a) Each Manager and officer of the Company will, to the fullest extent permitted by law, including Section 18-1101(c) of the Act, discharge his or her duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner the Manager reasonably believes to be in the best interests of the Company. (b) Each Manager and officer of the Company may rely on information or advice received from other persons if that reliance is consistent with the standard of care set forth in Section 4.15(a4.13(a) above.