No Participation of Members in Business and Affairs of the Company. No Member, in his or her capacity as such, shall have any authority or right to act for or bind the Company or to participate in or have any control over Company business, except for (i) such rights to consent to or approve of the actions and decisions of the Board of Managers as are expressly provided for in this Agreement, and any other rights granted to the Members in this Agreement, and (ii) such authority to act for and bind the Company as the Board of Managers may, from time to time and in the exercise of its sole discretion, delegate to such Member in writing.
Appears in 3 contracts
Samples: Company Agreement (BioFuel Energy Corp.), Limited Liability Company Operating Agreement (BioFuel Energy Corp.), Company Agreement (BioFuel Energy Corp.)
No Participation of Members in Business and Affairs of the Company. No Member, in his or her its capacity as suchMember, shall have any authority or right to act for or bind the Company or to participate in or have any control over Company business, except for (ia) such rights to consent to or approve of the actions and decisions of the Board of Managers as are expressly provided for in this Agreement, and any other rights granted to Agreement or the Members in this Agreement, Certificate and (iib) such authority to act for and bind the Company as the Board of Managers may, from time to time and in the exercise of its sole discretion, delegate to such Member in writing.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Savage Sports Holdings, Inc.), Limited Liability Company Operating Agreement (Savage Sports Holdings, Inc.)
No Participation of Members in Business and Affairs of the Company. No Member, in his or her its capacity as such, shall have any authority or right to act for or bind the Company or to participate in or have any control over Company business, except for (i) such rights to consent to or approve of the actions and decisions of the Board of Managers as are expressly provided for in this Agreement, and any other rights granted to Agreement or the Members in this Agreement, Articles of Organization and (ii) such authority to act for and bind the Company as the Board of Managers may, from time to time and in the exercise of its sole discretion, delegate to such Member in writing.
Appears in 1 contract
Samples: Operating Agreement (Ist, Corp)
