Findings of Arbitrator. If, in any action against a Series Manager, the Company, or the Founder, the selected or appointed arbitrator, or judge (if applicable) makes a specific finding that the Series Manager, Founder or Company has violated Securities laws, or has otherwise engaged in any of the actions described in Article 6.4 for which the Series Manager or Company will not be indemnified, the Series Manager, Founder, or Company must bear the cost of its own legal defense. In such case, the Series Manager must reimburse the Company for any such costs previously paid by the Company. Until the Company has been fully reimbursed, the Series Manager will not be entitled to receive any fees or Distributions it may otherwise be due.
Appears in 9 contracts
Samples: Series Limited Liability Company Agreement (VV Markets LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC)
