Common use of Offset for Damages Clause in Contracts

Offset for Damages. In the event of dissolution resulting from an event described in Article 11, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b), Section 13.4 or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.)

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Offset for Damages. In the event of dissolution resulting from an event described in Article 11, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b), Section 13.4 or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately directly resulting from any such event, only if and as established by a court order.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CNL Growth Properties, Inc.)

Offset for Damages. In the event of dissolution resulting from an event described in Article 11, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member Members pursuant to Section 13.2(a) or (b), Section 13.4 or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (Global Growth Trust, Inc.)

Offset for Damages. In the event of dissolution resulting from an event described in Article 1111 or 12, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b), Section 13.4 or Section 13.5, 13.5 the amount of damagesreasonable, including reasonable attorneys’ fees and disbursements, out of pocket costs incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.

Appears in 1 contract

Samples: Operating Agreement (American Retirement Corp)

Offset for Damages. In the event of dissolution resulting from an event described in Article 11, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b13.2(b), Section 13.4 or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately resulting from any such event, but only if and as established by a court order.. Table of Contents

Appears in 1 contract

Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.)

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Offset for Damages. In the event of dissolution resulting from an event described in Article 1111 or 12, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b), Section 13.4 or Section 13.5, 13.5 the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.amount

Appears in 1 contract

Samples: Operating Agreement (Sunrise Assisted Living Inc)

Offset for Damages. In the event of dissolution resulting from an event described in Article 1111 or 12, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b), Section 13.4 13.4, or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, damages incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.

Appears in 1 contract

Samples: Operating Agreement (Extra Space Storage Inc.)

Offset for Damages. In the event of dissolution resulting from an event described in Article 11, the Liquidating Member shall be entitled to deduct from the amount payable to the other Member pursuant to Section 13.2(a) or (b)0, Section 13.4 or Section 13.5, the amount of damages, including reasonable attorneys’ fees and disbursements, incurred by the Liquidating Member proximately resulting from any such event, only if and as established by a court order.

Appears in 1 contract

Samples: Liability Company Agreement (CNL Growth Properties, Inc.)

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