Common use of Authority of Board of Managers Clause in Contracts

Authority of Board of Managers. Except as otherwise required by the Act or other applicable law or as otherwise provided in this Agreement, the Board of Managers shall have the authority to (i) exercise all the powers and privileges granted to a limited liability company by the Act or any other law or this Agreement, together with any powers incidental thereto, so far as such powers are necessary or convenient to the conduct, promotion or attainment of the business, trade, purposes or activities of the LLC in the State of Delaware or in any other jurisdiction in which the LLC shall conduct business and (ii) take any other action not prohibited under the Act or other applicable law or this Agreement; and, except as otherwise provided in this Agreement, no Member acting in its capacity as a Member shall have any authority, power or privilege to act on behalf of or to bind the LLC.

Authority of Board of Managers. Except as otherwise required by the Act or other applicable law or as otherwise provided in and subject to the terms and conditions of this Agreement, the Board of Managers shall have the authority to (i) exercise all the powers and privileges granted to a limited liability company by the Act or any other law or this Agreement, together with any powers incidental thereto, so far as such powers are necessary or convenient to the conduct, promotion or attainment of the business, trade, purposes or activities of the LLC in the State of Delaware or in any other jurisdiction in which the LLC shall conduct business and (ii) take any other action not prohibited under the Act or other applicable law or this Agreementlaw; and, except as otherwise provided in this AgreementSections 3(b) and 13(b) hereof, no Member acting in its capacity as a Member shall have any authority, power or privilege to act on behalf of or to bind the LLC.

Authority of Board of Managers. Except as otherwise required by the Act or other applicable law or as otherwise provided in this Agreementlaw, the Board of Managers shall have the authority to (i) exercise all the powers and privileges granted to a limited liability company by the Act or any other law or this Agreement, together with any powers incidental thereto, so far as such powers are necessary or convenient to the conduct, promotion or attainment of the business, trade, purposes or activities of the LLC Company in the State of Delaware or in any other jurisdiction in which the LLC Company shall conduct business and (ii) take any other action not prohibited under the Act or other applicable law or this Agreementlaw; and, except as otherwise provided in this Agreement, no Member acting in its capacity as a Member shall have any authority, power or privilege to act on behalf of or to bind the LLCCompany. Without limiting the foregoing, the Board of Managers shall have the authority to appoint such persons as it may select from time to time to administer the Incentive Common Share Plan.