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clauses (i) through (v) above,\n(vii) to carry on such other businesses, perform such other services and make such other investments as are deemed desirable by the General Partner and as are permitted under the LLC Act, the BREP VII Agreements, and the respective partnership agreement of any partnership referred to in clause (iv) above and the respective limited liability company agreement of any limited liability company referred to in clause (v) above, in the case of each of the foregoing, as amended, supplemented, restated or otherwise modified from time to time,\n(viii) any other lawful purpose, and\n(ix) to do all things necessary, desirable, convenient or incidental thereto.\n(b) In furtherance of its purposes, the Partnership shall have all powers necessary, suitable or convenient for the accomplishment of its purposes, alone or with others, as principal or agent, including the following:\n(i) to be and become a general or limited partner of partnerships, a member of limited liability companies, a holder of common and preferred stock of corporations and/or an investor in the foregoing entities or other entities, in connection with the making of Investments or the acquisition, holding or disposition of Securities or other property or as otherwise deemed appropriate by the General Partner in the conduct of the Partnership\u2019s business, and to take any action in connection therewith;\n(ii) to acquire and invest in general or limited partner interests, in limited liability company interests, in common and preferred stock of corporations and/or in other interests in or obligations of the foregoing entities or other entities and in Investments and Securities or other property or direct or indirect interests therein, whether such Investments and Securities or other property are readily marketable or not, and to receive, hold, sell, dispose of or otherwise transfer any such partner interests, limited liability company interests, stock, interests, obligations, Investments or Securities or other property and any dividends and distributions thereon and to purchase and sell, on margin, and be long or short, futures contracts and to purchase and sell, and be long or short, options on futures contracts;\n(iii) to buy, sell and otherwise acquire investments, whether such investments are readily marketable or not;\n(iv) to invest and reinvest the cash assets of the Partnership in money-market or other short-term investments;\n(v) to hold, receive, mortgage, pledge, lease, transfer, exchange or otherwise dispose of, grant options with respect to, and otherwise deal in and exercise all rights, powers, privileges and other incidents of ownership or possession with respect to, all property held or owned by the Partnership;\n(vi) to borrow or raise money from time to time and to issue promissory notes, drafts, bills of exchange, warrants, bonds, debentures and other negotiable and non-negotiable instruments and evidences of indebtedness, to secure payment of the principal of any such indebtedness and the interest thereon by mortgage, pledge, conveyance or assignment in trust of, or the granting of a security interest in, the whole or any part of the property of the Partnership, whether at the time owned or thereafter acquired, to guarantee the obligations of others and to buy, sell, pledge or otherwise dispose of any such instrument or evidence of indebtedness;\n(vii) to lend any of its property or funds, either with or without security, at any legal rate of interest or without interest;\n(viii) to have and maintain one or more offices within or without the State of Delaware, and in connection therewith, to rent or acquire office space, engage personnel and compensate them and do such other acts and things as may be advisable or necessary in connection with the maintenance of such office or offices;\n(ix) to open, maintain and close accounts, including margin accounts, with brokers;\n(x) to open, maintain and close bank accounts and draw checks and other orders for the payment of moneys;\n(xi) to engage accountants, auditors, custodians, investment advisers, attorneys and any and all other agents and assistants, both professional and nonprofessional, and to compensate any of them as may be necessary or advisable;\n(xii) to form or cause to be formed and to own the stock of one or more corporations, whether foreign or domestic, to form or cause to be formed and to participate in partnerships and joint ventures, whether foreign or domestic, and to form or cause to be formed and be a member or manager or both of one or more limited liability companies;\n(xiii) to enter into, make and perform all contracts, agreements and other undertakings as may be necessary, convenient or advisable or incident to carrying out its purposes;\n(xiv) to \u2587\u2587\u2587 and be sued, to prosecute, settle or compromise all claims against third parties, to compromise, settle or accept judgment to claims against the Partnership, and 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The Company may engage in any and all activities necessary, desirable or incidental to the accomplishment of the foregoing. Subject to the provisions of this Agreement and except as prohibited by the Act, (i) the Company may, with the approval of the Managing Member, enter into and perform any and all documents, agreements and instruments, all without any further act, vote or approval of any Member and (ii) the Managing Member may authorize any Person (including any Member or Officer) to enter into and perform any document on behalf of the Company.", "snippet_links": [{"key": "carry-on", "type": "definition", "offset": [16, 24]}, {"key": "lawful-business", "type": "definition", "offset": [29, 44]}, {"key": "the-act", "type": "clause", "offset": [79, 86]}, {"key": "engage-in-any", "type": "definition", "offset": [104, 117]}, {"key": "incidental-to", "type": "definition", "offset": [161, 174]}, {"key": "the-foregoing", "type": "definition", "offset": [197, 210]}, {"key": "provisions-of-this-agreement", "type": "clause", "offset": [227, 255]}, {"key": "approval-of", "type": "clause", "offset": [323, 334]}, {"key": "the-managing-member", "type": "definition", "offset": [335, 354]}, {"key": "all-documents", "type": "definition", "offset": [387, 400]}, {"key": "agreements-and-instruments", "type": "definition", "offset": [402, 428]}, {"key": "any-person", "type": "definition", "offset": [533, 543]}, {"key": "to-enter", "type": "definition", "offset": [578, 586]}, {"key": "behalf-of-the-company", "type": "clause", "offset": [620, 641]}], "samples": [{"hash": "5VCPWsKZ9Kr", "uri": "/contracts/5VCPWsKZ9Kr#purpose-powers", "label": "Limited Liability Company Agreement (Clearway Energy, Inc.)", "score": 37.328540802, "published": true}, {"hash": "3K0i3GZK6EP", "uri": "/contracts/3K0i3GZK6EP#purpose-powers", "label": "Limited Liability Company Agreement (Clearway Energy LLC)", "score": 37.328540802, "published": true}, {"hash": "gc04qIIjkZ5", "uri": "/contracts/gc04qIIjkZ5#purpose-powers", "label": "Limited Liability Company Agreement (Clearway Energy, Inc.)", "score": 37.3230667114, "published": true}], "hash": "57c214e62ab5df883286242d95f8140f", "id": 9}, {"size": 15, "snippet": "(a) Subject to the provisions of this Agreement, the nature of the business to be conducted or promoted by the Company is to (i) operate a national securities exchange for the trading of equity securities, directly or through one or more of its Subsidiaries, and (ii) engage in any other lawful act or activity for which limited liability companies may be organized under the Delaware Act and which is approved by the Board in accordance with Exhibit C, provided, however that the Company may not be or become a Restricted Entity; and provided, further, that any proposed or actual expansion of the business of the Company or its Subsidiaries into an options exchange and/or operating a global equities exchange (and any regulatory filings or application in connection therewith) shall require the prior approval of the Board by Supermajority Board Vote until December 14, 2021, and thereafter, notwithstanding Items 33, 34 and 37 of Exhibit C shall only require a majority Board approval (it being understood that if a Class A Member notifies the Board that it has concerns about legal and/or tax structuring implications of such expansion into (A) operating an options exchange or (B) a particular jurisdiction, the Company and the Members shall work in good faith to address such legal and/or tax structuring issues). For the avoidance of doubt, this Section 2.5(a) shall not in any way supersede the provisions set forth in Section 15.18. The Company may, subject to Section 11.3 and the other provisions of this Agreement, engage in any and all activities necessary, desirable or incidental to the accomplishment of the foregoing. 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enumerate powers specifically to prevent overreach; align both with applicable law to ensure validity.", "explanation": "The \"Purpose; Powers\" clause defines the main objectives of an entity and outlines the specific legal powers it possesses to achieve those objectives. Typically, this clause will state the business activities the entity is authorized to engage in and enumerate the actions it may take, such as entering into contracts, acquiring property, or borrowing funds. By clearly establishing both the scope of the entity\u2019s mission and its legal authority, this clause helps prevent unauthorized activities and ensures that all actions taken are within the entity\u2019s intended legal framework."}, "json": true, "cursor": ""}}