Liability to the Company. The Member shall not be liable to the Company in damages for any action that the Member takes or fails to take in such capacity, unless it is proved by clear and convincing evidence in a court of competent jurisdiction that such action or failure to act was undertaken with deliberate intent to cause injury to the Company or with reckless disregard for the best interests of the Company.
Appears in 7 contracts
Samples: Operating Agreement (Wcof, LLC), Limited Liability Company Agreement (Wcof, LLC), Operating Agreement (Wcof, LLC)
Liability to the Company. The Member Members shall not be liable to the Company in damages for any action that the Member takes Members take or fails fail to take in such capacity, unless it is proved by clear and convincing evidence in a court of competent jurisdiction that such action or failure to act was undertaken with deliberate intent to cause injury to the Company or with reckless disregard for the best interests of the Company.
Appears in 4 contracts
Samples: Operating Agreement (Wcof, LLC), Operating Agreement (Wcof, LLC), Operating Agreement (Wcof, LLC)
Liability to the Company. The Member shall not be liable to the Company in damages for any action that the Member takes or fails to take in such capacity, unless it is proved proved, by clear and convincing evidence evidence, in a court of competent jurisdiction that such action or failure to act was undertaken with deliberate intent to cause injury to the Company or with reckless disregard for the best interests of the Company.
Appears in 3 contracts
Samples: Agreement of Limited Liability Company (CVG Oregon, LLC), Agreement of Limited Liability Company (CVG Oregon, LLC), Agreement of Limited Liability Company (CVG Oregon, LLC)
