Common use of Member Authority Clause in Contracts

Member Authority. The Members agree with the Company and each other that no Member, acting individually, shall have the power or authority to act on behalf of or bind the LLC, to authorize any action to be taken by the LLC, to act as agent for the LLC, or to incur any liability or expense on behalf of the LLC, unless the power or authority has been delegated to the Member by a written resolution duly adopted by the Members in accordance with the provisions of this article and then only to the extent expressly provided for in the resolution. The Members may adopt resolutions appointing one or more Members sign on behalf of the Company to acquire, encumber, or convey real or personal property from any source and through any means; engage in any financial transactions on behalf of the Company, including opening, maintaining, or closing accounts, borrowing money, or the like; entering into contracts on behalf of the Company; commence, prosecute, or defend any legal proceedings in the Company’s name; and carry on any other business or affairs of the Company not specifically provided herein, that is not in contravention of applicable law.