No Protection Against Certain Investment Company Act Liabilities. Nothing contained in this Article XVII shall protect any Director or officer of the Company from any liability to the Company or its Members to which he would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office.
Appears in 4 contracts
Sources: Limited Liability Company Agreement (Oppenheimer Master Inflation Protected Securities Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master Loan Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master International Value Fund, LLC)