Fiduciary Duties and Obligations of the Managers. (a) Except with respect to an action taken in accordance with Section 4.3(c)(iii), as long as any Securities are outstanding, the Board will take all action that may be necessary or appropriate for the continuation of the Company’s valid existence as a limited liability company under the laws of the State of Delaware (and each other jurisdiction in which such existence is necessary to protect the limited liability of the Member or to enable the Company to engage in the activities in which it is engaged).
Appears in 6 contracts
Samples: Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2022-1), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2023-2), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2023-1)
