Common use of SELF-DEALING Clause in Contracts

SELF-DEALING. Any Member and any Affiliate of a Member may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his Affiliate is directly or indirectly interested in such contract or other act apart from his interest as a Member, nor shall any Member or his Affiliate be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he or his Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.3, (a) any direct or indirect interest of a Member or Affiliate of a Member in any contract or other act, other than his interest as a Member, shall be disclosed to all other Members, (b) such contract or other act shall be approved by a Majority Interest of the Members unless the same is specifically authorized herein, and (c) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.

SELF-DEALING. Any Member and any Affiliate of a Member thereof may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his an Affiliate thereof is directly or indirectly interested in such contract or other act apart from his its interest as a Member, nor shall any Member or his an Affiliate thereof be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he it or his its Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.3foregoing, (ai) any direct or indirect interest of a Member or an Affiliate of a Member thereof in any contract or other act, other than his its interest as a Member, shall be disclosed to all other Members, (bii) such contract or other act shall be approved by a Majority Interest of the Members unless the same is specifically authorized herein, and (ciii) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.

SELF-DEALING. Any Member and any Affiliate of a Member may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent agent, lender or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his Affiliate is directly or indirectly interested in such contract or other act apart from his interest as a Member, nor shall any Member or his Affiliate be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he or his Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.311.1, (ai) any direct or indirect interest of a Member or Affiliate of a Member in any contract or other act, other than his interest as a Member, shall be disclosed to all other Members, (bii) such contract or other act shall be on an arm's length basis between the parties and on commercially reasonable terms, (iii) such contract or other act shall be approved by a Majority Interest the unanimous consent of the Members entitle to vote unless the same is specifically authorized herein, and (civ) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.

SELF-DEALING. Any Member and any Affiliate of a Member thereof may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his an Affiliate thereof is directly or indirectly interested in such contract or other act apart from his its interest as a Member, nor shall any Member or his an Affiliate thereof be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he it or his its Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.3foregoing, (ai) any direct or indirect interest of a Member or an Affiliate of a Member thereof in any contract or other act, other than his its interest as a Member, shall be disclosed to all other Members, (bii) such contract or other act shall be approved by a Majority Interest of the Members unless the same is specifically authorized herein, herein and (ciii) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.

SELF-DEALING. Any Member and any Affiliate of a Member thereof may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his an Affiliate thereof is directly or indirectly interested in such contract or other act apart from his its interest as a Member, nor shall any Member or his an Affiliate thereof be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he it or his its Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.3foregoing, (ai) any direct or indirect interest of a Member or an Affiliate of a Member thereof in any contract or other act, other than his its interest as a Member, shall be disclosed to all other Members, (bii) such contract or other act shall be approved by a Majority Interest of the Members unless the same is specifically authorized herein, herein and (ciii) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.the

SELF-DEALING. Any Member and any Affiliate of a Member thereof may deal with the Company, directly or indirectly, as vendor, purchaser, employee, agent or otherwise. No contract or other act of the Company shall be voidable or affected in any manner by the fact that a Member or his an Affiliate thereof is directly or indirectly interested in such contract or other act apart from his its interest as a Member, nor shall any Member or his an Affiliate thereof be accountable to the Company or the other Members in respect of any profits directly or indirectly realized by him by reason of such contract or other act, and such interested Member shall be eligible to vote or take any other action as a Member in respect of such contract or other act as it would be entitled were he it or his its Affiliate not interested therein. Notwithstanding the foregoing provisions of this Section 5.3foregoing, (a) any direct or indirect interest of a Member or an Affiliate of a Member thereof in any contract or other act, other than his its interest as a Member, shall be disclosed to all other Members, (b) such contract or other act shall be approved by a Majority Interest of the Members unless the same is specifically authorized herein, herein and (c) the Members shall not receive or hold any property of the Company as collateral security in respect of any claim against the Company.