Common use of Managers as Agents Clause in Contracts

Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except as provided in this Agreement or in a resolution of the Board expressly authorizing such action which resolution is duly adopted by the Board by the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the Company.

Appears in 2 contracts

Samples: Liability Company Agreement (Horizon Technology Finance Corp), Limited Liability Company Agreement (Business Development Corp of America)

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Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement or authorized by the Board, no Manager shall have the authority to bind the Company in a resolution his or her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (JCP&L Transition Funding II LLC), Limited Liability Company Agreement (RSB Bondco LLC)

Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s business, and the actions of the Managers Managers, through the Board and taken in accordance with such powers set forth in this Agreement Agreement, shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except Except as provided in this Agreement or in a resolution of the Board expressly authorizing such action which resolution is duly adopted by the Board by the affirmative vote required for such matter pursuant to an authorization from the terms of this AgreementBoard, a an individual Manager may not bind the Company.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon written consent of the affirmative vote required for such matter pursuant to the terms of Board in accordance with this Agreement, a Manager may not bind the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (GE Capital Funding, LLC)

Managers as Agents. To the extent of their powers set forth in ------------------ this Agreement, the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Gpu Inc /Pa/)

Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers Managers, through the Board and taken in accordance with such powers set forth in this Agreement Agreement, shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except Except as provided in this Agreement or in a resolution of the Board expressly authorizing such action which resolution is duly adopted by the Board by the affirmative vote required for such matter pursuant to an authorization from the terms of this AgreementBoard, a an individual Manager may not bind the Company.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Managers as Agents. To the extent of their powers set forth in this Agreement, Agreement the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement or in a resolution of the Board expressly authorizing such action which resolution is duly adopted by the Board by the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not no Managers shall have the authority to bind the CompanyCompany in his or her individual capacity.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Entergy Corp /De/)

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Managers as Agents. To the extent of their powers set forth in this ------------------ Agreement, the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Jcp&l Transition Funding LLC)

Managers as Agents. To the extent of their powers set forth in this Agreement, Agreement the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Pseg Energy Holdings LLC)

Managers as Agents. To the extent of their powers set forth in this Agreement, the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at a duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Gpu Inc /Pa/)

Managers as Agents. To the extent exent of their powers set forth in this Agreement, Agreement the Managers are agents of the Company for the purpose of the Company’s 's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the ActHowever, except as provided in this Agreement Agreement, no Manager shall have the authority to bind the Company in his or in a resolution her individual capacity. Any and all actions of the Board expressly authorizing such action which resolution is must be taken at duly adopted by authorized meeting of the Board by or upon unanimous written consent of the affirmative vote required for such matter pursuant to the terms of this Agreement, a Manager may not bind the CompanyBoard.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Pseg Energy Holdings LLC)

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