Common use of Segregation of Moneys; Interest Clause in Contracts

Segregation of Moneys; Interest. All moneys received by the Managers hereunder shall be kept segregated in the Company’s accounts and may be deposited under such general conditions as may be prescribed by law, and the Managers shall not be liable for any interest thereon. Furthermore, in no event shall moneys of the Company be commingled with moneys of the Members or the Managers.

Appears in 6 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Company Agreement (BioFuel Energy Corp.)

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Segregation of Moneys; Interest. All moneys received by the Managers hereunder shall be kept segregated in the Company’s accounts and may be deposited under such general conditions as may be prescribed by law, and the Managers shall not be liable for any interest thereon. Furthermore, in no event shall moneys of the Company be commingled with moneys of the Members or the Managers.. ARTICLE VIII

Appears in 1 contract

Samples: Company Agreement (Green Brick Partners, Inc.)

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