Objections to Statements. Following Completion, any Member shall have the right to object to the statements described in Sections 7.1(a), 7.1(b) and 7.1(c) by giving notice to the other Members within 45 days after such statement is received by each Member indicating in reasonable detail the objections of such Member and the basis for such objections. If any Member shall fail to give such notice within said 45-day period, such statement and the contents thereof shall, in the absence of fraud or willful misconduct by the other Members or the independent certified public accountants preparing the statements, be deemed conclusive and binding upon such party so failing to give such notice subject, in the case of the statements provided for in Sections 7.1(a) and 7.1(b), to the audit provided for in Section 7.1(c). Objections to any statement and any disputes concerning the findings of, and questions raised as the result of, audits of the Company’s books shall be settled by Member Consent.
Appears in 11 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.)
Objections to Statements. Following Completion, any Member shall have the right to object to the statements described in Sections 7.1(a), 7.1(b(b) and 7.1(c(c) by giving notice to the other Members within 45 days after such statement is received by each Member indicating in reasonable detail the objections of such Member and the basis for such objections. If any Member shall fail to give such notice within said 45-day period, such statement and the contents thereof shall, in the absence of fraud or willful misconduct by the other Members or the independent certified public accountants preparing the statements, be deemed conclusive and binding upon such party so failing to give such notice subject, in the case of the statements provided for in Sections 7.1(a) and 7.1(b(b), to the audit provided for in Section 7.1(c). Objections to any statement and any disputes concerning the findings of, and questions raised as the result of, audits of the Company’s books shall be settled by Member Consent.
Appears in 3 contracts
Samples: Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (Global Growth Trust, Inc.), Limited Liability Company Agreement (Global Growth Trust, Inc.)
Objections to Statements. Following Completion, any Member shall have the right to object to any of the statements described in Sections 7.1(a), Section 7.1(b) and 7.1(c) by giving notice to the other Members within 45 forty-five (45) days after such statement is received by each Member indicating in reasonable detail the objections of such Member and the basis for such objections. If any Member shall fail to give such notice within said forty-five (45-) day period, such statement and the contents thereof shall, in the absence of fraud or willful misconduct by the other Members Member or the independent certified public accountants preparing the statements, be deemed conclusive and binding upon such party Member so failing to give such notice subject, in the case of the statements provided for in Sections 7.1(aSection 7.1(b) and 7.1(b), to the audit provided for in Section 7.1(c). Objections to any statement and any disputes concerning the findings of, and questions raised as the result of, audits of the Company’s books shall be settled by Member Consent.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.)
Objections to Statements. Following Completion, any Each Member shall have the right to object to the statements described in Sections 7.1(a), 7.1(b(b) and 7.1(c(c) by giving notice in writing to the other Members Member within 45 thirty (30) days after such statement is statements are received by each Member Member, indicating in reasonable detail the objections of such Member and the basis for such objections. If any either Member shall fail to give such notice within said 45-day thirty (30)-day period, such statement statements and the contents thereof shall, in the absence of fraud or willful misconduct by the other Members Member or the independent certified public accountants preparing certifying the statements, be deemed conclusive and binding upon such party so failing to give such notice written notice, subject, in the case of the statements provided for in Sections 7.1(a) and 7.1(b(b), and to the audit provided for in Section 7.1(c). Objections to any statement and any disputes concerning the findings of, and questions raised as the result of, audits of the Company’s 's books shall be settled by Member Consentthe unanimous agreement of the Members.
Appears in 1 contract
Objections to Statements. Following Completion, any Member shall have the right to object to the statements described in Sections 7.1(a), 7.1(b) and 7.1(c) by giving notice to the other Members within 45 days after such statement is received by each Member indicating in reasonable detail the objections of such Member and the basis for such objections. If any Member shall fail to give such notice within said 45-day period, such statement and the contents thereof shall, in the absence of fraud or willful misconduct by the other Members or the independent certified public accountants preparing the statements, be deemed conclusive and binding upon such party so failing to give such notice subject, in the case of the statements provided for in Sections 7.1(a) and 7.1(b), to the audit provided for in Section 7.1(c7.1(d). Objections to any statement and any disputes concerning the findings of, and questions raised as the result of, audits of the Company’s books shall be settled by Member Consent.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.)