The recent decision of the Delaware Court of Chancery under the link below provides an important clarification about how the term “sole and absolute discretion” should be interpreted in Delaware LLC agreements.  I suspect courts in other jurisdictions would rule similarly.

Here’s the link:

http://dodd-frank.com/2020/03/03/sole-discretion-language-in-llc-agreement-does-not-eliminate-fiduciary-duties/#page=1