Member’s Funds. (a) Each Member represents, warrants and covenants to the other Member that it has taken, and shall continue to take during the term of this Agreement, such measures as are required by law to assure that the funds invested in the Company and/or used to make payments in connection therewith are derived (i) from transactions that do not violate U.S. law nor, to the extent such funds originate outside the United States, do not violate the Laws of the jurisdiction in which they originated; and (ii) from permissible sources under U.S. law or to the extent such funds originate outside the United States, under the Laws of the jurisdiction in which they originated.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)
Member’s Funds. (a) Each Member represents, warrants and covenants to the other Member that it has taken, and shall continue to take during the term of this Agreement, such measures as are required by law to assure that the funds invested in the Company and/or used to make payments in connection therewith are derived (i) from transactions that do not violate U.S. law nor, to the extent such funds originate outside the United States, do not violate the Laws laws of the jurisdiction in which they originated; and (ii) from permissible sources under U.S. law or to the extent such funds originate outside the United States, under the Laws laws of the jurisdiction in which they originated.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)
