Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the Board, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved by or pursuant to a policy approved by the Board, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company.
Appears in 10 contracts
Samples: Operating Agreement, Member Control Agreement (Granite Falls Energy, LLC), Member Control Agreement
Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the BoardBoard of Managers and with Member Consent, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved approved, permitted or contemplated by or pursuant to a policy approved by the BoardBoard of Managers and Member Consent, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (U. S. Premium Beef, LLC), Limited Liability Company Agreement (Jefferies Financial Group Inc.), Purchase and Sale Agreement (Leucadia National Corp)
Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the BoardManagement Services Agreement, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved approved, permitted or contemplated by or pursuant to a policy approved by the BoardManager, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (National Beef, Inc.), Limited Liability Company Agreement (National Beef, Inc.), Limited Liability Company Agreement (National Beef, Inc.)
Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the BoardBoard of Managers, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved approved, permitted or contemplated by or pursuant to a policy approved by the BoardBoard of Managers, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (National Beef Packing Co LLC), Limited Liability Company Agreement (Nb Finance Corp), Limited Liability Company Agreement (National Beef Packing Co LLC)
Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the Board, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved by or pursuant to provided in a policy written agreement approved by the Board, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company.
Appears in 1 contract
