Rights and Powers of Members Sample Clauses

Rights and Powers of Members. In addition to the rights of the Members to remove and replace the Manager and as otherwise provided for in Section 3.2, the Members shall have the right to vote upon and take any of the following actions upon the approval of a Majority, without the concurrence of the Manager, and an affirmative vote of a Majority shall be required to allow or direct the Manager to:
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Rights and Powers of Members. 12.1 With the exception of the manager(s) designated in Article 9 herein and as they shall be so elected from time to time, no member of the limited liability company shall participate in the management of the business and affairs of the limited liability company, except as otherwise provided in these Articles.
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Rights and Powers of Members. Section 7.01. Admission of New Members 12 Section 7.02. Powers of Members 12 Section 7.03. Transactions Between a Member or Managing Member and the Company 12 Section 7.04. Nonrestriction of Business Pursuits of Members and Managing Members 12 Section 7.05. Partition 12 Section 7.06. Resignations; Retirement 12 Section 7.07. Indemnification of Members and Managing Members 12 Section 7.08. Indemnification of Heirs, Executors and Administrators 13 ARTICLE VIII OFFICERS Section 8.01. Required Officers 13 Section 8.02. Election of Officers 13 Section 8.03. Compensation of Officers 13 Section 8.04. Term of Office 13 Section 8.05. Duties of Chairman 13 Section 8.06. Duties of Vice-Chairman 13 Section 8.07. Duties of President 13 Section 8.08. Duties of Vice-President 13 Section 8.09. Duties of Secretary 14 Section 8.10. Duties of Assistant Secretary 14 Section 8.11. Duties of Treasurer 14 Section 8.12. Duties of Assistant Treasurer 14 Section 8.13. Indemnification of the Officers 14 ARTICLE IX TRANSFERABILITY OF A MEMBER’S INTEREST Section 9.01. Restrictions on Transfers of a Member’s Interest 15 Section 9.02. Restrictions on Transfers 15 Section 9.03. Incapacity of Members 15 Section 9.04. Survival of Liabilities 15 ARTICLE X DISSOLUTION Section 10.01. Dissolution 15 Section 10.02. Effect of Dissolution 16 Section 10.03. Procedure in Dissolution and Liquidation 16
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Rights and Powers of Members. Section 6.01. Admission of New Members 12 Section 6.02. Powers of Members 12 Section 6.03. Nonrestriction of Business Pursuits of Members 12 Section 6.04. Reimbursements 12 Section 6.05. Partition 13 Section 6.06. Resignations; Retirement 13 Section 6.07. Indemnification of Members and the Manager 13 Section 6.08. Indemnification of Heirs, Executors and Administrators 14 Section 6.09. Representations and Warranties 14 ARTICLE VII
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Rights and Powers of Members. A Majority Interest of the Members shall have the right to vote upon, and to approve or disapprove, the following matters, and no others, provided, that the matters described in subsections (a), (b) and (c) below shall also require the prior written consent of the Manager:
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Rights and Powers of 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, except for the rights and powers of the Members specifically set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the LLCA.
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Rights and Powers of Members. 12 Meetings........................................................................................12
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Rights and Powers of Members 
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Related to Rights and Powers of Members

  • Powers of Members The Members shall have the power to exercise any and all rights or powers granted to the Members pursuant to the express terms of this Agreement. Except as expressly provided herein, the Members shall have no power to bind the Company and no authority to act on behalf of the Company.

  • Purpose and Powers of the Company The Company is organized for the purpose of carrying on any lawful activity for which limited liability companies may be formed under the Act. The Company shall possess and may exercise all of the powers and privileges granted by the Act or by any other law or by this Agreement, together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company contemplated by this Agreement.

  • Powers of General Partner Notwithstanding any provision of this Agreement to the contrary, the General Partner’s discretion and authority are subject to the limitations imposed by law, and by the General Partner’s Articles of Organization and operating agreement. Subject to the foregoing and to other limitations imposed by this Agreement, the General Partner shall have full, complete and exclusive discretion to manage and control the business and affairs of the Partnership and make all decisions affecting the business and assets of the Partnership. Without limiting the generality of the foregoing (but subject to the restrictions specifically contained in this Agreement), the General Partner shall have the power and authority to take the following actions on behalf of the Partnership:

  • Purposes and Powers of the Trust The purpose of the trust, as created hereunder, is to engage in the following activities:

  • Powers of the Company The Company shall have the power and authority to take any and all actions necessary, appropriate, advisable, convenient or incidental to or for the furtherance of the purpose set forth in Section 2.6, including, but not limited to, the power and authority to:

  • Express Powers of Trustee Without in any way limiting the powers and discretions conferred upon the Trustee by the other provisions of this Agreement or by law, the Trustee is expressly authorized and empowered:

  • Appointment and Powers Subject to the terms and conditions hereof, each of the Secured Parties hereby appoints Norwest Bank Minnesota, National Association as the Collateral Agent with respect to the Series 1993-A Collateral and the related Collateral subsequently specified in a Series Supplement, and Norwest Bank Minnesota, National Association hereby accepts such appointment and agrees to act as Collateral Agent with respect to the Series 1993-A Collateral, and upon execution of any Series Supplement, shall be deemed to accept such appointment, and agree to act as Collateral Agent with respect to such Collateral, in each case, for the Secured Parties, to maintain custody and possession of such Collateral (except as otherwise provided hereunder) and to perform the other duties of the Collateral Agent in accordance with the provisions of this Agreement. Each Secured Party hereby authorizes the Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Controlling Party may direct and as are specifically authorized to be exercised by the Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto. The Collateral Agent shall act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Agreement promptly following receipt of such written instructions; provided that the Collateral Agent shall not act in accordance with any instructions (i) which are not authorized by, or in violation of the provisions of, this Agreement, (ii) which are in violation of any applicable law, rule or regulation or (iii) for which the Collateral Agent has not received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by the Collateral Agent of its express duties hereunder, except where this Agreement provides that the Collateral Agent is permitted to act only following and in accordance with such instructions.

  • Bank Accounts and Powers of Attorney Set forth in Schedule 3.21 is an accurate and complete list showing (a) the name of each bank in which the Company has an account, credit line or safe deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and (b) the names of all Persons, if any, holding powers of attorney from the Company and a summary statement of the terms thereof.

  • Powers of Board The directors may, at any time, with respect to a committee appointed under Articles 19.1 or 19.2:

  • Rights of Members Except as otherwise provided in this Agreement, (a) each Member shall look solely to the assets of the Company for the return of its Capital Contribution, (b) no Member shall have the right or power to demand or receive property other than cash from the Company and (c) except as provided in this Agreement, no Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations.

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