Fiduciary Duties of Directors. The Class C Directors shall owe fiduciary duties exclusively to the Class C Member(s), and the Class P Directors shall owe fiduciary duties exclusively to the Class P Member(s). No person shall be authorized to institute an action against a Voting Director for breach of fiduciary duty other than a Member to whom a fiduciary duty is owed pursuant to the previous sentence.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Phillips 66), Consent Agreement (Phillips 66), Limited Liability Company Agreement (Phillips 66)