Common use of Reliance on Reports; Discharge of Duties Clause in Contracts

Reliance on Reports; Discharge of Duties. Managers shall discharge their duties to the Company in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances and in a manner such person reasonably believes to be in the best interests of the Company. In discharging such duties, a Manager may rely on information, opinions, reports or statements, including financial statements and other financial data, if prepared or presented by any of the following:

Appears in 5 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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