Common use of Powers of Board Clause in Contracts

Powers of Board. Except as otherwise explicitly provided herein, the Board shall have the power on behalf and in the name of the Fund to implement the objectives of the Fund and to exercise any rights and powers the Fund may possess, including, without limitation, the power to cause the Fund to (a) make any elections available to the Fund under applicable tax or other laws, (b) make any investments permitted under this Agreement, (c) satisfy any Fund obligations (such as payment of the Management Fees, Incentive Fees, and Fund Expenses), or (d) make any disposition of Fund assets. Notwithstanding any other provision of this Agreement, without the consent of any Member or other Person being required, the Fund is hereby authorized to execute, deliver and perform, and the Board on behalf of the Fund is hereby empowered to authorize an Officer of the Fund or other representative to execute and deliver, (s) a Subscription Agreement with each Member, (t) the Management Agreement, (u) a licensing agreement with the Investment Manager or an affiliate of the Investment Manager, (v) a custody agreement with a third-party custodian, (w) an administration agreement with a third-party administrator, (x) a transfer agent servicing agreement, (y) a services agreement with a third-party servicer and (z) any amendment of any such document (to the extent such amendment is approved in accordance with the terms of the relevant agreement and is consistent with the terms of this Agreement) and any other agreement, document or other instrument contemplated thereby or related thereto (to the extent that such other agreement, document or other instrument is consistent with the terms of the relevant agreement or this Agreement). Such authorization shall not be deemed a restriction on the power of the Board to cause the Fund to enter into other documents.

Powers of Board. Except as otherwise explicitly provided herein, the Board shall have the power on behalf and in the name of the Fund to implement the objectives of the Fund and to exercise any rights and powers the Fund may possess, including, without limitation, the power to cause the Fund to (a) make any elections available to the Fund under applicable tax or other laws, (b) make any investments permitted under this Agreement, (c) satisfy any Fund obligations (such as payment of the Management FeesFee, Incentive FeesFee, and Fund Expenses), or (d) make any disposition of Fund assets. Notwithstanding any other provision of this Agreement, without the consent of any Member or other Person being required, the Fund is hereby authorized to execute, deliver and perform, and the Board on behalf of the Fund is hereby empowered to authorize an Officer of the Fund or other representative to execute and deliver, (su) a Subscription Agreement with each Member, (tv) the Management Agreement, (uw) a licensing agreement with the Investment Manager or an affiliate of the Investment Manager, (vx) a custody agreement with a third-party custodian, (wy) an administration agreement with a third-party administrator, (x) a transfer agent servicing agreement, (y) a services agreement with a third-party servicer and (z) any amendment of any such document (to the extent such amendment is approved in accordance with the terms of the relevant agreement and is consistent with the terms of this Agreement) and any other agreement, document or other instrument contemplated thereby or related thereto (to the extent that such other agreement, document or other instrument is consistent with the terms of the relevant agreement or this Agreement). Such authorization shall not be deemed a restriction on the power of the Board to cause the Fund to enter into other documents.