Nature of Rights. The rights conferred upon an Indemnified Person in this Article 10 shall be contract rights and such rights shall continue as to an Indemnified Person who has ceased to be a Manager or Officer and shall inure to the benefit of the Indemnified Person’s heirs, executors and administrators. Any amendment, alteration or repeal of this Article 10 that adversely affects any right of an Indemnified Person or its successors shall be prospective only and shall not limit, eliminate, or impair any such right involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or repeal.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Goldman Sachs Private Markets Fund 2018 (A) LLC), Limited Liability Company Agreement (Goldman Sachs Private Markets Fund 2018 LLC), Limited Liability Company Agreement (Goldman Sachs Private Markets Fund 2018 (B) LLC)
Nature of Rights. The rights conferred upon an Indemnified Person in this Article 10 shall be contract rights and such rights shall continue as to an Indemnified Person who has ceased to be a Manager or Director, Officer and shall inure to the benefit of the Indemnified Person’s heirs, executors and administrators. Any amendment, alteration or repeal of this Article 10 that adversely affects any right of an Indemnified Person or its successors shall be prospective only and shall not limit, eliminate, or impair any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or repeal.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Oaktree Gardens OLP, LLC), Limited Liability Company Agreement (Phillip Street Middle Market Lending Fund LLC), Limited Liability Company Agreement (Goldman Sachs Private Middle Market Credit LLC)
Nature of Rights. The rights conferred upon an Indemnified Person in this Article 10 shall be contract rights and such rights shall continue as to an Indemnified Person who has ceased to be a Manager or Director, Officer and shall inure to the benefit of the Indemnified Person’s heirs, executors and administrators. Any amendment, alteration or repeal of this Article 10 that adversely affects any right of an Indemnified Person or its successors shall be prospective only and shall not limit, eliminate, eliminate or impair any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or repeal.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (West Bay BDC LLC), Limited Liability Company Agreement (West Bay BDC LLC), Limited Liability Company Agreement (West Bay BDC LLC)
