Organizer Release. The Company hereby ratifies and adopts the acts and conduct of the Company’s organizer in connection with the Company’s organization as acts and conduct by and on behalf of the Company. The organizational and other activities for which the organizer was responsible have been completed. The organizer is hereby relieved of any further duties and responsibilities in that regard, and the Company and the Member hereby indemnify and hold harmless the organizer for any loss, liability or expense arising from his actions or conduct in such capacity.
Appears in 5 contracts
Samples: Agreement and Plan of Merger (Moody National REIT II, Inc.), Agreement and Plan of Merger (Moody National REIT I, Inc.), Termination Agreement (ZAIS Financial Corp.)
Organizer Release. The Company hereby ratifies and adopts the acts and conduct of the Company’s organizer in connection with the Company’s organization as acts and conduct by and on behalf of the Company. The organizational and other activities for which the organizer was responsible have been completed. The organizer is hereby relieved of any further duties and responsibilities in that regard, and the Company and the Member Members hereby indemnify and hold harmless the organizer for any loss, liability or expense arising from his its actions or conduct in such capacity.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.), Limited Liability Company Operating Agreement (OPC Residential Properties Trust, Inc.), Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)
Organizer Release. The Company hereby ratifies and adopts the acts and conduct of the Company’s 's organizer in connection with the Company’s 's organization as acts and conduct by and on behalf of the Company. The organizational and other activities for which the organizer was responsible have been completed. The organizer is hereby relieved of any further duties and responsibilities in that regard, and the Company and the Member hereby indemnify and hold harmless the organizer for any loss, liability or expense arising from his actions or conduct in such capacity.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (MVP REIT II, Inc.), Agreement and Plan of Merger (MVP REIT, Inc.)
Organizer Release. The Company hereby ratifies and adopts the acts and conduct of the Company’s organizer in connection with the Company’s organization as acts and conduct by and on behalf of the Company. The organizational and other activities for which the organizer was responsible have been completed. The organizer is hereby relieved of any further duties and responsibilities in that regard, and the Company and the Member hereby indemnify and hold harmless the organizer for any loss, liability or expense arising from his actions or conduct in such capacity.
Appears in 2 contracts
Samples: Operating Agreement (2420 Lakemont Avenue MM, LLC), Operating Agreement (2420 Lakemont Avenue MM, LLC)
Organizer Release. The Company hereby ratifies and adopts the acts and conduct of the Company’s organizer in connection with the Company’s organization as acts and conduct by and on behalf of the Company. The organizational and other activities for which the organizer was responsible have been completed. The organizer is hereby relieved of any further duties and responsibilities in that regard, and the Company and the Member Members hereby indemnify and hold harmless the organizer for any loss, liability liability, or expense arising from his actions or conduct in such capacity.
Appears in 1 contract
Samples: Operating Agreement
