Common use of Member Managed Clause in Contracts

Member Managed. The Company shall be a "member-managed" limited liability company as such term is defined in the Act. The management and control of the Company shall rest with the Members exclusively in their membership capacity. The Members shall have all the rights and powers that may be possessed by Members under the Act (as modified by this Agreement or the Articles).

Member Managed. The Company shall be a "“member-managed" ” limited liability company as such term is defined in the Act. The Subject to Section 3.2, the management and control of the Company shall rest with the Members exclusively in their membership capacity. The Members shall have all the rights and powers that may be possessed by the Members under the Act (as modified by this Agreement or the Articles), including, without limitation, the power to bind the Company as an agent in the normal course of the business of the Company.

Member Managed. The Company shall be a "“member-managed" ” limited liability company as such term is defined in the Act. The management and control of the Company shall rest with the Members exclusively in their membership capacity. The Members shall have all the rights and powers that may be possessed by Members under the Act (as modified by this Agreement or the Articles).