Restrictions on Members. Except as expressly provided otherwise in this Agreement, Members who are not also the Manager shall not be entitled to participate in the management or control of the Company, nor shall any such Member hold himself out as having such authority. Unless authorized to do so by the Manager, no attorney-in-fact, employee or other agent of the Company shall have any power or authority to bind the Company in any way, to pledge its credit or to render it liable pecuniarily for any purpose. No Member shall have any power or authority to bind the Company unless the Member has been authorized by the Manager in writing to act as an agent of the Company in accordance with the previous sentence.
Restrictions on Members. Except as expressly permitted in this Agreement, or as consented to by the Manager, no Member shall directly or indirectly (including through the sale of the Member by its parent entity or equityholders), sell, transfer, assign, give, bequeath, devise, donate, exchange, pledge, hypothecate, enter into a derivative contract or similar arrangement with respect to, encumber, distribute or otherwise dispose of, either voluntarily or by operation of law (a “Transfer”), all or any part of the Common Units or any rights or interests therein, whether now owned or hereafter acquired; provided, however, that:
Restrictions on Members. No Member may, without the prior written consent of the other Member:
Restrictions on Members. No Member shall have the right or power to:
Restrictions on Members. No Member, otherwise than in such Member’s capacity as a Manager, without the written consent of the Members holding ONE HUNDRED PERCENT (100%) of the outstanding Membership Voting Interests, shall do any of the following:
Restrictions on Members. Without the consent of all Members, no Member, except a Member who is also a Manager and who is acting in the capacity of a Manager, may do any of the following: · Borrow from or lend money on behalf of the Company; · Sell, mortgage, lease, or otherwise dispose of or encumber Company property; · Xxxx, assign, pledge, or mortgage a Member’s Interest in the Company; · Purchase real or personal property on behalf of the Company; or · Exercise or represent to any third party that the Member has the right to exercise any of the powers of a Manager described in this Agreement or otherwise.
Restrictions on Members. It shall ensure that each Corporate Member is not at any time a member of any syndicate at Lloyd’s other than the Syndicates.
Restrictions on Members. (a) No Member shall have any power or authority to act on behalf of or to bind the Company or any other Member, or to pledge the Company’s credit or to render the Company liable pecuniarily for any purpose. A Member shall not take any action which would adversely affect the limited liability of a Member, or affect the status of the Company for federal income tax purposes.
Restrictions on Members. The Members shall not have any right or ----------------------- power to take part in the management or control of the Company or its business and affairs, or to act for or bind the Company in any way. Notwithstanding the foregoing, the Members shall have all the rights and powers specifically set forth in this Operating Agreement and, to the extent not inconsistent with this Operating Agreement, in the Act.
Restrictions on Members. Except as otherwise provided in this Agreement or required under the Act, no Member other than the Manager shall have either the obligation or the right to take part, directly or indirectly, in the active management or control of the business of the Company, and no such Member shall have the right or authority to act for or bind the Company.
