Limited Liability and Bankruptcy Remoteness. Until the expiration of the period of one year and one day after the payment in full of all debt of the Company and all debt issued through Subsidiaries, the activities and affairs of the Company will be operated in such a manner as the Board and the Authorized Officers deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Member and its Affiliates, (b) the bankruptcy-remote status of the Company and (c) the separateness of the Company from the business of the Member and its Affiliates. RLF1 28406131v.1
Appears in 6 contracts
Samples: Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2022-2), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2022-1), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2022-3)
Limited Liability and Bankruptcy Remoteness. Until the expiration of the period of one year and one day after the payment in full of all debt of the Company and all debt issued through Subsidiaries, the activities and affairs of the Company will be operated in such a manner as the Board and the Authorized Officers deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Member and its Affiliates, (b) the bankruptcy-remote status of the Company and (c) the separateness of the Company from the business of the Member and its Affiliates. RLF1 28406131v.1.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (ACAR Leasing Ltd.), Limited Liability Company Agreement, Limited Liability Company Agreement (ACAR Leasing Ltd.)
Limited Liability and Bankruptcy Remoteness. Until the expiration of the period of one year and one day after the payment in full of all debt of the Company and all debt issued through SubsidiariesSecurities, the activities and affairs of the Company will be operated in such a manner as the Board and the Authorized Officers deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Member and its Affiliates, (b) the bankruptcy-remote status of the Company and (c) the separateness of the Company from the business of the Member and its Affiliates. RLF1 28406131v.1.
Appears in 1 contract
Samples: Limited Liability Company Agreement (GMF Floorplan Owner Revolving Trust)
