Manager Members Clause Samples
The "Manager Members" clause defines the individuals or entities designated as managers within a company or organization, typically in the context of a limited liability company (LLC) or similar structure. This clause specifies who holds managerial authority, outlining their roles, responsibilities, and the scope of their decision-making powers. For example, it may list specific members by name or title who are authorized to act on behalf of the company in business operations. The core function of this clause is to clearly identify who is empowered to manage the entity, thereby preventing confusion or disputes regarding authority and ensuring effective governance.
Manager Members. See Section 3.5(a). ---------------
Manager Members. Section 6.02.
Manager Members. Except as described below in Section 6.03, the management of the Company is fully vested in the Manager Members, acting exclusively in their membership capacities. To facilitate the orderly and efficient management of the Company, the Members shall act (a) together as the Management Committee pursuant to Section 6.02, (b) through the delegation of responsibility and authority to the Manager pursuant to Section 6.03, and (c) through the delegation from time to time of certain responsibility and authority to particular Members pursuant to Section 6.04. No Member has the right, power or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company, except in accordance with the immediately preceding sentence. Decisions or actions taken in accordance with the provisions of this Agreement shall constitute decisions or actions by the Company and shall be binding on each Member, Representative, Officer and employee of the Company.
Manager Members. The Members are the Persons identified in Exhibit A, who executed this Agreement effective as of the Closing Date, each of which was admitted to the Company as a Member effective contemporaneously with the execution by such Person of this Agreement.
Manager Members. The management of the Company shall be vested in the members. The Manager Members shall have the duties and obligations prescribed by the Colorado Limited Liability Company Act (“Act”), which include, but are not limited to, the following: Entering into, making and performing contracts, agreements and other undertakings binding the Company that may be necessary, appropriate or advisable in furtherance of the purposes of the Company. Opening and maintaining bank accounts, investment accounts and other arrangements, drawing checks and other orders for the payment of money, and designating individuals with authority to sign or give instructions with respect to those accounts and arrangements. Company funds shall not be commingled with funds from other sources and shall be used solely for the business of the Company. Collecting funds due to the Company. Acquiring, utilizing for the Company's purposes, maintaining and disposing of any assets of the Company. To the extent that funds of the Company are available, paying debts and obligations of the Company. Borrowing money or otherwise committing the credit of the Company for Company activities, and voluntarily prepaying or extending any such borrowings. Employing from time to time persons, firms or corporations for the operation and management of various aspects of the Company's business, including, without limitation, managing agents, contractors, subcontractors, architects, engineers, laborers, suppliers, accountants and attorneys on such terms and for such compensation as the Members shall determine, notwithstanding the fact that the Members or any Member may have a financial interest in such firms or corporations. Making elections available to the Company under the Code. Registering the Company as a tax shelter with the Secretary of the Treasury and furnishing to such Secretary lists of investors in the Company, if required pursuant to applicable provisions of the Code. Obtaining general liability, property and other insurance for the Company, as the Members deem proper. Taking such actions as may be directed by the Members in furtherance of their approval of any matter requiring approval of the members. Doing and performing all such things and executing, acknowledging and delivering any and all such instruments as may be in furtherance of the Company's purposes and necessary and appropriate to the conduct of its business.