Members Are Not Agents. The management of the Company is vested in ---------------------- the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Certificate and except as expressly required by the Act. Unless expressly and duly authorized in writing to do so by the Manager, no Member shall have any power or authority to bind or act on behalf of the Company in any way (as agent or otherwise).
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Point West Capital Corp), Limited Liability Company Agreement (Point West Capital Corp), Limited Liability Company Agreement (Point West Capital Corp)
Members Are Not Agents. The Pursuant to Article V of this Agreement, the management of the Company is vested in ---------------------- the Manager. The Members No Member shall have no power any right to participate in the management of the Company except as expressly authorized by the Act or this Agreement or Agreement. No Member, acting solely in the Certificate and except as expressly required by capacity of a Member, is an agent of the Act. Unless Company, nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, no Member shall have any power or authority to bind or act on behalf of the Company in any way (as agent way, to pledge its credit, to execute any instrument on its behalf or otherwise).to render it liable for any purpose.β
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Members Are Not Agents. The Pursuant to Article V of this Agreement, the management of the Company is vested in ---------------------- the Manager. The Members shall have no power No Member has any right to participate in the management of the Company except as expressly authorized by the Act or this Agreement or Agreement. No Member, acting solely in the Certificate and except as expressly required by capacity of a Member, is an agent of the Act. Unless Company, nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, no Member shall have any power or authority to bind or act on behalf of the Company in any way (as agent way, to pledge its credit, to execute any instrument on its behalf or otherwise)to render it liable for any purpose.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Freeport Holdings Series LLC)
