Limitations on Powers. Notwithstanding any other provision of this Agreement and any provision of law, the Company shall not engage in any business or activity other than as set forth in this Agreement.
Limitations on Powers. For purposes of this agreement, the powers and responsibilities allocated to the Trustee shall be limited as follows:
Limitations on Powers. Notwithstanding any other provision of this Agreement and any provision of law, the Company shall not do any of the following:
Limitations on Powers. 5 Section 3.04. Company Opportunity ......................................... 6 Article Four
Limitations on Powers. Notwithstanding the foregoing and any other provision contained in this Agreement to the contrary, no act shall be taken, sum expended, decision made, obligation incurred or power exercised by any Member on behalf of the Company except by the consent of all of the Members with respect to (a) the assignment, transfer, pledge, compromise or release of any of the claims of or debts due the Company (except upon payment in full) or arbitrate or consent to the arbitration of any of the disputes or controversies of the Company; (b) any merger of the Company; (c) a transaction involving an actual or potential conflict of interest between a Member and the Company; (d) any change in the character of the business and affairs of the Company; (e) the commission of any act which would make it impossible for the Company to carry on its ordinary business and affairs; or (f) any act that would contravene any provision of the Articles or this Agreement or the Act.
Limitations on Powers. The Manager shall not have any power, right or authority to take any action requiring Member approval as set forth in Section 16 hereof in the absence of the requisite Member approval.
Limitations on Powers. Notwithstanding the foregoing and any other provision contained in this Agreement to the contrary, no act shall be taken, sum expended, decision made, obligation incurred or power exercised by any Member on behalf of the Company without prior written notice to all Members outlining the proposed action followed by the written consent of a Majority Interest of the Members with respect to: (a) any mortgage, grant of security interest, pledge or encumbrance of any asset of the Company; (b) any merger of the Company with another entity; (c) a transaction involving an actual or potential conflict of interest between a Member and the Company; (d) any change in the character of the business and affairs of the Company; (e) the commission of any act which would make it impossible for the Company to carry on its ordinary business and affairs; or (f) any act that would contravene any provision of the Certificate of Formation or this Agreement or the Act.
Limitations on Powers. (i) The Trust shall not conduct, continue or engage in any trade or business, except to the extent the Trustee would be deemed to engage in any such trade or business in performing the duties expressly required under the terms of this Agreement.
Limitations on Powers. The Manager shall not have authority hereunder to cause the LLC to engage in the following transactions without first obtaining the affirmative vote or written consent of a majority interest of each of the Class A and Class B Members:
Limitations on Powers. 5 Section 3.04. Company Opportunity. . . . . . . . . . . . . . . . . . . . . 6 ARTICLE FOUR
