Liability of LLC Managers to Members and Series of the Company. In carrying out their duties and exercising the powers hereunder, the LLC Managers shall exercise reasonable skill, care and business judgment. A Manager shall not be liable to the Company, the Series or the Members for any act or omission performed or omitted by them in good faith pursuant to the authority granted to them by this Agreement as a Manager or Tax Matters Partner (as defined in the Code) unless such act or omission constitutes fraud, deceit, gross negligence, willful misconduct or a wrongful taking by such Manager.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)
