Common use of Management Generally Clause in Contracts

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................3 Section 2.03 Authority of the Managing Member. .........................3 Section 2.04 Reliance by Third Parties. ................................5 Section 2.05 Activity of the Managing Member. ..........................5 Section 2.06 Standard of Care; Indemnification. ........................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 ARTICLE III Series of Units; Admission of New Members. ...................9 Section 3.01 Classes and Series of Units. ..............................9 Section 3.02 Conversion of Series. ....................................10 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................3 Section 2.03 Authority of the Managing Member. .........................3 4 Section 2.04 Reliance by Third Parties. ................................5 Section 2.05 Activity of the Managing Member. ..........................5 Section 2.06 Standard of Care; Indemnification. ........................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 Section 2.09 Termination of the Managing Member.......................9 ARTICLE III Series of Units; Admission of New Members. ............................................9 Section 3.01 Classes and Series of Units. ........................................................................9 Section 3.02 Conversion of Series. ....................................10 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................3 ...............................4 Section 2.03 Authority of the Managing Member. .........................3 ............................4 Section 2.04 Reliance by Third Parties. ................................5 ...................................6 Section 2.05 Activity of the Managing Member. ..........................5 .............................6 Section 2.06 Standard of Care; Indemnification. ...................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ...........................8 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 Section 2.09 Termination of the Managing Member..........................9 ARTICLE III SERIES OF UNITS; ADMISSION OF NEW MEMBERS......................10 Section 3.01 Series of Units; Admission of New Members. ...................9 Section 3.01 Classes and Series of Units. ..............................9 ............................................10 Section 3.02 Conversion of Series. ...........................................................................10 Section 3.03 New Members. .............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ...........................................10 Section 3.05 Additional Classes of Units. .............................10ARTICLE IV CAPITAL ACCOUNTS OF MEMBERS AND OPERATION THEREOF...............11

Management Generally. 3 Section 2.02 Delegation by Managing Member. ...........................................................3 Section 2.03 Authority of the Managing Member. .....................................................3 Section 2.04 Reliance by Third Parties. ...................................................................5 Section 2.05 Activity of the Managing Member. .......................................................5 Section 2.06 Standard of Care; Indemnification. ........................6 ...........................5 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...............7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 ................................................8 Section 2.09 Termination of the Managing Member..........................8 ARTICLE III Series of Units; Admission of New Members. .........................................9 Section 3.01 Classes and Series of Units. ...........................................................................9 Section 3.02 Conversion of Series. ....................................10 ........................................9 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10.................................................9

Management Generally. 3 Section 2.02 Delegation by Managing Member. ...........................................................3 Section 2.03 Authority of the Managing Member. .....................................................3 Section 2.04 Reliance by Third Parties. ...................................................................5 Section 2.05 Activity of the Managing Member. .......................................................5 Section 2.06 Standard of Care; Indemnification. ........................6 ...........................5 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...............7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................................................................8 Section 2.09 Termination of the Managing Member..........................9 ARTICLE III Series of Units; Admission of New Members. ..........................................9 Section 3.01 Classes and Series of Units. .........................................................................9 Section 3.02 Conversion of Series. ...........................................................................10 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................................................................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. .........................................................3 Section 2.03 Authority of the Managing Member. ...................................................3 Section 2.04 Reliance by Third Parties. .................................................................5 Section 2.05 Activity of the Managing Member. .....................................................5 Section 2.06 Standard of Care; Indemnification. .................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. .........................8 Section 2.08 Principal Transactions and Other Related Party Transactions. ...........................................................................................9 ARTICLE III Series of Units; Admission of New Members. .......................................9 Section 3.01 Classes and Series of Units. .............................................................9 Section 3.02 Conversion of Series. .........................................................................10 Section 3.03 New Members. ...........................................................................................10 Section 3.04 Adjustment to Number of Units Issued. .........................................10 Section 3.05 Additional Classes of Units. ...........................................................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................................................3 Section 2.03 Authority of the Managing Member. .........................3 .............................4 Section 2.04 Reliance by Third Parties. ....................................................................5 Section 2.05 Activity of the Managing Member. ........................................................5 Section 2.06 Standard of Care; Indemnification. ....................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............................8 Section 2.08 Principal Transactions and Other Related Party Transactions. ..............................................................................................9 ARTICLE III Series of Units; Admission of New Members. ...................members........................9 Section 3.01 Classes and Series of Units. ................................................................9 Section 3.02 Conversion of Series. ............................................................................10 Section 3.03 New Members. ..............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ............................................10 Section 3.05 Additional Classes of Units. ..............................................................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. ..............................................3 Section 2.03 Authority of the Managing Member. ........................................3 Section 2.04 Reliance by Third Parties. ......................................................5 Section 2.05 Activity of the Managing Member. ..........................................5 Section 2.06 Standard of Care; Indemnification. ........................6 ..............5 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 .......................................7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 .............................8 Section 2.09 Termination of the Managing Member.............8 ARTICLE III Series of Units; Admission of New Members. ............................9 Section 3.01 Classes and Series of Units. ..............................................................9 Section 3.02 Conversion of Series. ....................................10 ...........................9 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10....................................9

Management Generally. 3 Section 2.02 Delegation by Managing Member. ...........................................................3 Section 2.03 Authority of the Managing Member. .....................................................3 Section 2.04 Reliance by Third Parties. ...................................................................5 Section 2.05 Activity of the Managing Member. .......................................................5 Section 2.06 Standard of Care; Indemnification. ...................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...............7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................................................................9 ARTICLE III Series of Units; Admission of New Members. ............................................9 Section 3.01 Classes and Series of Units. ...............................................................9 Section 3.02 Conversion of Series. ...........................................................................10 Section 3.03 New Members. .............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ...........................................10 Section 3.05 Additional Classes of Units. .............................................................10

Management Generally. 3 Section 2.02 Delegation by Managing Member. ................................................................3 Section 2.03 Authority of the Managing Member. .........................3 .................................4 Section 2.04 Reliance by Third Parties. ........................................................................5 Section 2.05 Activity of the Managing Member. ............................................................5 Section 2.06 Standard of Care; Indemnification. ........................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ................................8 Section 2.08 Principal Transactions and Other Related Party Transactions. ...................................................9 ARTICLE III Series of UnitsSERIES OF UNITS; Admission of New Members. ...................ADMISSION OF NEW MEMBERS.........................9 Section 3.01 Classes and Series of Units. ....................................................................9 Section 3.02 Conversion of Series. ................................................................................10 Section 3.03 New Members. ..................................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ................................................10 Section 3.05 Additional Classes of Units. .............................10.....................................11 ARTICLE IV CAPITAL ACCOUNTS OF MEMBERS AND OPERATION THEREOF.................11

Management Generally. 3 Section 2.02 Delegation by Managing Member. ..........................................................3 Section 2.03 Authority of the Managing Member. ....................................................3 Section 2.04 Reliance by Third Parties. ..................................................................5 Section 2.05 Activity of the Managing Member. ......................................................5 Section 2.06 Standard of Care; Indemnification. ........................6 ..........................5 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...................................................7 Section 2.08 Principal Transactions and Other Related Party Transactions. ......................................................................................8 Section 2.09 Termination of the Managing Member.........................9 ARTICLE III Series of Units; Admission of New Members. ........................................9 Section 3.01 Classes and Series of Units. ..........................................................................9 Section 3.02 Conversion of Series. ....................................10 .......................................9 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number ................................................9 ARTICLE IV Capital Accounts of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10Members and Operation Thereof.10

Management Generally. 3 Section 2.02 Delegation by Managing Member. .......................................................3 Section 2.03 Authority of the Managing Member. .................................................3 Section 2.04 Reliance by Third Parties. ...............................................................5 Section 2.05 Activity of the Managing Member. ...................................................5 Section 2.06 Standard of Care; Indemnification. ........................6 .......................5 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...........7 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 ............................................8 Section 2.09 Termination of the Managing Member......................8 ARTICLE III Series of Units; Admission of New Members. ...................9 Section 3.01 Classes and Series of Units. .......................................................................9 Section 3.02 Conversion of Series. ....................................10 9 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................109

Management Generally. 3 2 Section 2.02 Delegation by Managing Member. ............................3 ...........................2 Section 2.03 Authority of the Managing Member. .........................3 ........................2 Section 2.04 Reliance by Third Parties. ................................5 ...............................2 Section 2.05 Activity of the Managing Member. ..........................5 .........................2 Section 2.06 Standard of Care; Indemnification. ........................6 .......................2 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ...........2 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................9 ..........................................2 Section 2.09 Termination of the Managing Member......................2 ARTICLE III Series of Units; Admission of New Members. ...................9 2 Section 3.01 Classes and Series of Units. ..............................9 .........................................2 Section 3.02 Conversion of Series. ....................................10 2 Section 3.03 New Members. .............................................10 Section 3.04 Adjustment to Number 2 ARTICLE IV Capital Accounts of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10Members and Operation Thereof............2

Management Generally. 3 Section 2.02 Delegation by Managing Member. .............................................................3 Section 2.03 Authority of the Managing Member. .........................3 ..............................4 Section 2.04 Reliance by Third Parties. .....................................................................5 Section 2.05 Activity of the Managing Member. .........................................................5 Section 2.06 Standard of Care; Indemnification. .....................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. .............................8 Section 2.08 Principal Transactions and Other Related Party Transactions. ...............................................................................................9 ARTICLE III Series of UnitsSERIES OF UNITS; Admission of New Members. ...................ADMISSION OF NEW MEMBERS.........................9 Section 3.01 Classes and Series of Units. .................................................................9 Section 3.02 Conversion of Series. .............................................................................10 Section 3.03 New Members. ...............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. .............................................10 Section 3.05 Additional Classes of Units. .............................10..................................10 ARTICLE IV CAPITAL ACCOUNTS OF MEMBERS AND OPERATION THEREOF.................11

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................3 ................................4 Section 2.03 Authority of the Managing Member. .........................3 .............................4 Section 2.04 Reliance by Third Parties. ................................5 ....................................6 Section 2.05 Activity of the Managing Member. ..........................5 ..............................6 Section 2.06 Standard of Care; Indemnification. ....................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............................8 Section 2.08 Principal Transactions and Other Related Party Transactions. ..............................................................................................9 Section 2.09 Termination of the Managing Member...........................9 ARTICLE III SERIES OF UNITS; ADMISSION OF NEW MEMBERS.......................10 Section 3.01 Series of Units; Admission of New Members. ...................9 Section 3.01 Classes and Series of Units. ..............................9 .............................................10 Section 3.02 Conversion of Series. ............................................................................10 Section 3.03 New Members. ..............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 Section 3.05 Additional Classes of Units. .............................10........................11 ARTICLE IV CAPITAL ACCOUNTS OF MEMBERS AND OPERATION THEREOF................11

Management Generally. 3 Section 2.02 Delegation by Managing Member. ............................3 ...............................4 Section 2.03 Authority of the Managing Member. .........................3 ............................4 Section 2.04 Reliance by Third Parties. ...................................................................5 Section 2.05 Activity of the Managing Member. ..........................5 .............................6 Section 2.06 Standard of Care; Indemnification. ...................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ...........................8 Section 2.08 Principal Transactions and Other Related Party Transactions. .............................................................................................9 ARTICLE III Series of Units; Admission of New Members. ...................9 .......................10 Section 3.01 Classes and Series of Units. ..............................9 ................................10 Section 3.02 Conversion of Series. ...........................................................................10 Section 3.03 New Members. .............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ....................10 .......................11 Section 3.05 Additional Classes of Units. .............................10................................11

Management Generally. 3 Section 2.02 Delegation by Managing Member. ..........................................................3 Section 2.03 Authority of the Managing Member. ....................................................3 Section 2.04 Reliance by Third Parties. ..................................................................5 Section 2.05 Activity of the Managing Member. ......................................................5 Section 2.06 Standard of Care; Indemnification. ..................................................6 Section 2.07 Management Fee; Payment of Costs and Expenses. ............8 ..............7 Section 2.08 Principal Transactions and Other Related Party Transactions. ............................................................................................9 ARTICLE III Series of Units; Admission of New Members. ..........................................9 Section 3.01 Classes and Series of Units. ..............................................................9 Section 3.02 Conversion of Series. ..........................................................................10 Section 3.03 New Members. ............................................................................................10 Section 3.04 Adjustment to Number of Units Issued. ..........................................10 Section 3.05 Additional Classes of Units. .............................10