No Member Fiduciary Duties. (a) No Member shall, to the maximum extent permitted by the Act and other applicable Law, owe any duties (including fiduciary duties) as a Member to the other Members or the Company, notwithstanding anything to the contrary existing at law, in equity or otherwise; provided, however, that each Member shall have the duty to act in accordance with the implied contractual covenant of good faith and fair dealing.
Appears in 8 contracts
Samples: Limited Liability Company Operating Agreement, www.sec.gov, Limited Liability Company Operating Agreement (Gmac LLC)
No Member Fiduciary Duties. (a) No Member shall, to the maximum extent permitted by the LLC Act and other applicable Law, owe any duties (including fiduciary duties) as a Member to (i) the other Members or (ii) the Company, except for duties arising under contracts between such Members and the Company, in each case notwithstanding anything to the contrary existing at law, in equity or otherwise; provided, however, that each Member shall have the duty to act in accordance with the implied contractual covenant of good faith and fair dealing.
Appears in 7 contracts
Samples: LLC Operating Agreement, Shareholders Agreement, Operating Agreement (Chrysler Group LLC)
No Member Fiduciary Duties. (a) No Member shall, to the maximum extent permitted by the Act and other applicable Law, owe any duties (including fiduciary duties) as a Member to the other Members or the CompanyLLP, notwithstanding anything to the contrary existing at law, in equity or otherwise; provided, however, that each Member shall have the duty to act in accordance with the implied contractual covenant of good faith and fair dealing.
Appears in 3 contracts
Samples: www.sec.gov, Limited Liability Partnership Agreement (Delphi Trade Management, LLC), Limited Liability Partnership Agreement (Delphi Automotive PLC)
No Member Fiduciary Duties. (a) No Member shall, to the maximum extent permitted except as expressly required by the LLC Act and other applicable Law, owe any duties (including fiduciary duties) as a Member to (i) the other Members or (ii) the Company, except for duties arising under contracts between such Members and the Company, in each case notwithstanding anything to the contrary existing at lawLaw, in equity or otherwise; provided, however, that each Member shall have the duty to act in accordance with the implied contractual covenant of good faith and fair dealing.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Chrysler Group LLC)
