Rights and Duties of Members. Subject to the provisions of Article 3, members will have all of the rights and powers of members as provided under the Act and as otherwise provided by law.
Rights and Duties of Members. 14.1 Subject to duties and obligations of the Managing Member, it is expressly understood that each Member may engage in any other business or investment, whether or not in direct competition with the business of the Company, and neither the Company nor any other Member shall have any rights in and to said businesses or investments, or the income or profits derived therefrom.
Rights and Duties of Members. The Company is a “manager-managed” limited liability company under the LLCA which shall be managed by a Board of Managers (the “Board”, also referred to in this Agreement as, the “Manager”). Except as may hereafter be required or permitted by the LLCA or as specifically provided herein, the Member shall in such capacity take no part whatever in the control, management, direction or operation of the affairs of the Company and shall have no power to act for or bind the Company.
Rights and Duties of Members. The Company is a “manager-managed” limited liability company under the Nevada LLC Act which shall be managed by a Board of Managers (the “Board”, also referred to in this Agreement as, the “Manager”). Except as may hereafter be required or permitted by the Nevada LLC Act or as specifically provided herein, the Member shall in such capacity take no part whatever in the control, management, direction or operation of the affairs of the Company and shall have no power to act for or bind the Company.
Rights and Duties of Members. 4.1. Other Activities of the Members.......................................18 4.2. Liability of Members, Managers and Officers...........................19 4.3.
Rights and Duties of Members. (a) Members who are not Managing Members shall not have any individual authority to act for or bind the Company, nor transact any business for the Company. However, Members who are Officers of the Company may act for and bind the Company if such transactions are within the scope of their duties as an Officer.
Rights and Duties of Members. (a) The rights, duties and obligations of the Members shall be as set forth in this Agreement and neither Member or its Affiliates shall be liable to the other Member or its Affiliates in connection with the formation, operation or dissolution of the Company, except as specifically provided by this Agreement. Without limiting the foregoing, the parties specifically acknowledge and agree that neither Member shall have any fiduciary duty to the other Member whether under the Delaware Act, whether implied in law, or otherwise implied by the terms of this Agreement. Neither Member nor its Affiliates shall assert in any litigation, controversy or proceeding a position contrary to the foregoing or to the waivers and limitations otherwise set forth in this Agreement. The Members intend that this Section 6.2 shall be given the maximum effect permitted under applicable law, including under Section 18-1101 of the Delaware Act.
Rights and Duties of Members. OFFICERS 20 6.1 Management 20 6.2 Liability of Unitholders 21 6.3 Xxx-Xxxxxxxxxx 00 6.4 Non-Competition 22 6.5 Damages 23 6.6 Limitations 23 6.7 Meetings 23 6.8 Actions Requiring Member Approval 23 6.9 Officers 24 ARTICLE VII INDEMNIFICATION 24 7.1 Indemnification 24 TABLE OF CONTENTS PAGE
Rights and Duties of Members. Payment of membership fee. Nonpayment leads to exclusion of the member from the Consortium. • If an institution withdraws, or is excluded, from the membership in the course of a financial year, the SEB Consortium shall retain the membership fee already paid by the withdrawing/excluding member. • Right of the Principal Members to appoint one representative each to the SEB Consortium Board. • Personal consultancy for principal and gold members by the SEB developers includes solely consultancy by mail or phone • Gold, silver and bronze members have no voting rights in the SEB Board. • Benefits attributed according to the membership category.
Rights and Duties of Members. 6.1 Management Rights 7 6.2 Liability of Members 7 6.3 Indemnification 7 6.4 Representations and Warranties 7 6.5 Conflicts of Interest 7 ARTICLE VII MANAGING MEMBER
