Common use of Reliance on Records and Books of Account Clause in Contracts

Reliance on Records and Books of Account. Any Member or Manager shall be fully protected in relying in good faith upon the records and books of account of the LLC and upon such information, opinions, reports or statements presented to the LLC by its Managers, any of its Members, officers, employees or committees, or by any other person, as to matters the Managers or Members reasonably believes are within such other person's professional or expert competence and who has been selected with reasonable care by or on behalf of the LLC, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits or losses of the LLC or any other facts pertinent to the existence and amount of assets from which distributions to members might properly be paid.

Reliance on Records and Books of Account. Any The sole Member or any Manager shall be fully protected in relying in good faith upon the records and books of account of the LLC Company and upon such information, opinions, reports or statements presented to the LLC Company by its Managers, sole Member or any of its MembersManagers, officers, employees or committees, or by any other person, Person as to matters the Member or Board of Managers or Members reasonably believes are within such other personPerson's professional or expert competence and who has been selected with reasonable care by or on behalf of the LLCCompany, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits or losses of the LLC Company or any other facts pertinent to the existence and amount of assets from which distributions to members the sole Member might properly be paidmade.

Reliance on Records and Books of Account. Any Member or Manager shall be fully protected in relying in good faith upon the records and books of account of the LLC and upon such information, opinions, reports or statements presented to the LLC by its Board of Managers, any of its Members, officers, employees or committees, or by any other person, as to matters the Board of Managers or Members reasonably believes believe are within such other person's ’s professional or expert competence and who has been selected with reasonable care by or on behalf of the LLC, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits or losses of the LLC or any other facts pertinent to the existence and amount of assets from which distributions to members Members might properly be paid.