Common use of Good Faith Reliance Clause in Contracts

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount of the assets, liabilities, Net Income or Net Losses of the Company or any facts pertinent to the existence and amount of assets from which Distributions might properly be paid) of the following Persons or groups: (i) one or more Officers or employees of the Company; (ii) any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company; or (iii) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably believes to be within such other Person’s professional or expert competence.

Appears in 3 contracts

Samples: Operating Agreement (Verb Technology Company, Inc.), Operating Agreement (Atlanticus Holdings Corp), Limited Liability Company Agreement

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Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount of the assets, liabilities, Net Income net income or Net Losses net losses of the Company or any facts pertinent to the existence and amount of assets from which Distributions dividends or other might properly be paid) of the following Persons or groups: (i) another director; (ii) one or more Officers or employees of the Company; (iiiii) any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company; or (iiiiv) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably believes to be within such other Person’s professional or expert competence.

Appears in 2 contracts

Samples: Stockholders Agreement (Capstone Therapeutics Corp.), Stockholders Agreement (Capstone Therapeutics Corp.)

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount of the assets, liabilities, Net Income or Net Losses of the Company or any facts pertinent to the existence and amount of assets from which Distributions distributions might properly be paid) of the following Persons or groups: (i) another Member; (ii) one or more Officers or employees of the Company; (iiiii) any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company; or (iiiiv) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably believes to be within such other Person’s 's professional or expert competence.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Scio Diamond Technology Corp)

Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount of the assets, liabilities, Net Income or Net Losses of the Company or any facts pertinent to the existence and amount of assets from which Distributions distributions might properly be paid) of the following Persons or groups: (i) another Member; (ii) one or more Officers or employees of the Company; (iiiii) any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company; or (iiiiv) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably believes to be within such other Person’s professional or expert competence.

Appears in 1 contract

Samples: Limited Liability Company Agreement

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Good Faith Reliance. A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements (including financial statements and information, opinions, reports or statements as to the value or amount of the assets, liabilities, Net Income or Net Losses of the Company or any facts pertinent to the existence and amount of assets from which Distributions might properly be paid) of the following Persons or groups: (i) another Manager; (ii) one or more Officers officers or employees of the Company; (iiiii) any attorney, independent accountant, appraiser or other expert or professional employed or engaged by or on behalf of the Company; or (iiiiv) any other Person selected in good faith by or on behalf of the Company, in each case as to matters that such relying Person reasonably believes to be within such other Person’s 's professional or expert competence.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Good Hemp, Inc.)

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