Common use of Nominees Clause in Contracts

Nominees. In the event the Managers determine that the Company Property should be held in the name of a nominee, the Company and the nominee shall place a written declaration of trust in the Company’s books and records acknowledging the nominee’s capacity and the Company as the true owner of the Company Property. In the event the Member acts as a nominee for Company Property, the Member shall not have an interest in the Company Property held by the Member as nominee nor be liable for any Company debt in excess of that attributable to the Member’s limited liability company interest.

Nominees. In the event the Managers determine that the Company -------- Property should be held in the name of a nominee, the Company and the nominee shall place a written declaration of trust in the Company’s 's books and records acknowledging the nominee’s 's capacity and the Company as the true owner of the Company Property. In the event the Member acts as a nominee for Company Property, the Member shall not have an interest in the Company Property held by the Member as nominee nor be liable for any Company debt in excess of that attributable to the Member’s 's limited liability company interest.

Nominees. In the event the Managers determine that the Company Property should be held in the name of a nominee, the Company and the nominee shall place a written declaration of trust in the Company’s books and records acknowledging the nominee’s capacity and the Company as the true owner of the Company Property. In the event the Member acts as a nominee for Company Property, the Member shall not have an interest in the Company Property held by the Member as nominee nor be liable for any Company debt in excess of that attributable to the Member’s limited liability company interest. AIRTICLE 8.