No Management Responsibility. No Member, in such capacity, shall participate in the management or control of the business of or transact any business for the Company, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibility. The Members hereby consent to the taking of any action by the Board of Managers and Appropriate Officers contemplated under this Agreement or otherwise permitted under the Act.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (NB Crossroads Private Markets Fund IV (TE) - Client LLC), Limited Liability Company Agreement (Excelsior Private Markets Fund II (Master), LLC), Limited Liability Company Agreement (NB Crossroads Private Markets Fund IV (TI) - Client LLC)
No Management Responsibility. No Member, in such capacity, shall participate in the management or control of the business of or transact any business for the Company, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibilityManagers. The Members hereby consent to the taking of any action by the Board of Managers and Managers, Appropriate Officers and the Special Member contemplated under this Agreement or otherwise permitted under the Act.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Excelsior Venture Partners Iii LLC), Limited Liability Company Operating Agreement (Excelsior Venture Partners Iii LLC), Limited Liability Company Operating Agreement (Excelsior Venture Partners Iii LLC)
No Management Responsibility. No Member, in such capacityother than a Manager, Appropriate Officer or Advisory Member, shall participate in the management or control of the business of or transact any business for the Company, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibilityManagers. The Members hereby consent to the taking of any action by the Board of Managers and Managers, Appropriate Officers and the Advisory Member contemplated under this Agreement or otherwise permitted under the Act.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Fortress Pinnacle Investment Fund LLC), Limited Liability Company Agreement (Fortress Brookdale Investment Fund LLC)
No Management Responsibility. No Member, in such capacity, shall participate will: (i) take part in the control or management or control of the business of of, or transact any business of, the Company or act as agent for the Company; or (ii) have the power to sign documents for or otherwise bind the Company. Except as otherwise specifically provided herein, but may exercise all authority to act on behalf of the voting rights and powers of a Member set forth in this Agreement. All management responsibility Company is vested in the Board of Managers or any person delegated such responsibility. The Members hereby consent to the taking of any action by the Board of Managers and Appropriate Officers contemplated under this Agreement or otherwise permitted under the ActManagers.
Appears in 2 contracts
Samples: Operating Agreement (Life Time Fitness Inc), Operating Agreement (Life Time Fitness Inc)
No Management Responsibility. No Member, in such capacity, shall participate in the management or control of the business of or transact any business for the Company, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibility. The Members hereby consent to the taking of any action by the Board of Managers and Appropriate Officers the Managing Member contemplated under this Agreement or otherwise permitted under the Act.
Appears in 1 contract
Samples: Operating Agreement (Excelsior Buyout Investors LLC)
No Management Responsibility. No Member, in such capacity, shall participate in the management or control of the business of or transact any business for the Company, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibilityManagers. The Members hereby consent to the taking of any action by the Board of Managers and Managers, Appropriate Officers and Investment Adviser contemplated under this Agreement or otherwise permitted under the Act.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Excelsior Venture Partners Fund Iii LLC)
No Management Responsibility. No Member, in such capacity, shall participate in the management or control of the business of or transact any business for the CompanyFund, but may exercise the voting rights and powers of a Member set forth in this Agreement. All management responsibility is vested in the Board of Managers or any person delegated such responsibility. The Members hereby consent to the taking of any action by the Board of Managers and Managers, Appropriate Officers or the Management Company contemplated under this Agreement or otherwise permitted under the Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (NB Crossroads Private Markets Access Fund LLC)
