Common use of Rights of Managing Member Clause in Contracts

Rights of Managing Member. (i) The Managing Member may disclose to any Class A Member or Assignee or any prospective investor such information relating to the Company or its investments as the Managing Member determines to be necessary to retain any such Class A Member or Assignee as an investor in in the Company or facilitate an investment in the Company by any such prospective investor, as the case may be. (ii) The Managing Member may disclose to any Person that provides or may provide service to the Company such information relating or its investments as the Managing Member determines to be necessary, appropriate, advisable, incidental or convenient to effect the formation or manage and conduct its business and affairs. (iii) Unless the Managing Member expressly agrees otherwise, the Managing Member, in its sole and absolute discretion, may publicize: (A) the fact that it serves as the Manager of the Company, (B) the performance of the Company’s Investments and (C) the identity of Class A Members and Assignees, provided it does so in a manner that does not constitute “general advertising” or “general solicitation” with respect to the Company or the Interests therein within the meaning of Rule 503(c) of Regulation D under the 1933 Act and does not contain any untrue or misleading information.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)

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Rights of Managing Member. (i) The Managing Member may disclose to any Class A Member or Assignee or any prospective investor such information relating to the Company or its investments as the Managing Member determines to be necessary to retain any such Class A Member or Assignee as an investor in in the Company or facilitate an investment in the Company by any such prospective investor, as the case may be. (ii) The Managing Member may disclose to any Person that provides or may provide service to the Company such information relating or its investments as the Managing Member determines to be necessary, appropriate, advisable, incidental or convenient to effect the formation or manage and conduct its business and affairs. (iii) Unless the Managing Member expressly agrees otherwise, the Managing Member, in its sole and absolute discretion, may publicize: (A) the fact that it serves as the Manager of the Company, (B) the performance of the Company’s 's Investments and (C) the identity of Class A Members and Assignees, provided it does so in a manner that does not constitute "general advertising" or "general solicitation" with respect to the Company or the Interests therein within the meaning of Rule 503(c) of Regulation D under the 1933 Act and does not contain any untrue or misleading information.

Appears in 1 contract

Samples: Operating Agreement (Secured Real Estate Fund II, LLC)

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Rights of Managing Member. (i) The Managing Member may disclose to any Class A Member or Assignee or any prospective investor such information relating to the Company or its investments as the Managing Member determines to be necessary to retain any such Class A Member or Assignee as an investor in in the Company or facilitate an investment in the Company by any such prospective investor, as the case may be. (ii) The Managing Member may disclose to any Person that provides or may provide service to the Company such information relating or its investments as the Managing Member determines to be necessary, appropriate, advisable, incidental or convenient to effect the formation or manage and conduct its business and affairs. (iii) Unless the Managing Member expressly agrees otherwise, the Managing Member, in its sole and absolute discretion, may publicize: (A) the fact that it serves as the Manager of the Company, (B) the performance of the Company’s 's Investments and (C) the identity of Class A Members and Assignees, provided it does so in a manner that does not constitute "general advertising" or "general solicitation" with respect to the Company or the Interests therein within the meaning of Rule 503(c) of Regulation D under the 1933 Act and does not contain any untrue or misleading information.

Appears in 1 contract

Samples: Operating Agreement (Secured Real Estate Income Fund II, LLC)

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