Member Managed. The business and affairs of the Company shall be managed by or under the direction of the Member.
Member Managed. The management of the Company shall be vested solely in the Member, who shall have all powers to control and manage the business and affairs of the Company and may exercise all powers of the Company. All instruments, contracts, agreements and documents shall be valid and binding on the Company if executed by the Member.
Member Managed. The Company shall be a "member-managed" limited liability company as such term is defined in the Act. The management and control of the Company shall rest with the Members exclusively in their membership capacity. The Members shall have all the rights and powers that may be possessed by Members under the Act (as modified by this Agreement or the Articles).
Member Managed. The Member shall have the exclusive power and authority to manage the business and affairs of the Company and to make all decisions with respect thereto. Except as otherwise expressly provided in this Agreement, the Member or persons designated by the Member, including officers and agents appointed by the Member, shall be the only persons authorized to execute documents on behalf of the Company.
Member Managed. The management of the business and affairs of the Company shall be reserved to the Member, which shall have the power to do any and all acts necessary or convenient for the furtherance of the purpose of the Company described in this Agreement, including all powers, statutory or otherwise, possessed by members of a limited liability company under the DLLCA.
Member Managed. Except as specifically provided herein, the management and control of the Company shall be vested exclusively in the Member. Without limiting the foregoing, the Member shall be responsible for the establishment of policy and operating procedures respecting the business affairs of the Company and may appoint one or more officers and delegate duties to such officers as herein contemplated.
Member Managed. The business and affairs of the Company are to be managed by the Members; provided, however, that management of the business and affairs of the Company shall be vested in the Operating Member (as defined below) as described in Section 3.1.1 below, and certain major decisions described in Section 3.1.2 below shall require the approval of Members holding at least a specified percentage of the Membership Interests in the Company.
Member Managed. The Member shall be the sole manager of the LLC by virtue of its capacity as a member of the LLC.
Member Managed. The Members agree that the management of the Company shall be vested in the Members. The Members shall devote such time and effort as is necessary for the management of the Company in the conduct of its business but shall not be required to devote their full-time efforts to the Company. Each Member at all times shall keep the other Members fully informed as to all such Member's activities on behalf of the Company and all material transactions taken on behalf of the Company and shall disclose to the Members such Member's knowledge of the Company's business and affairs. Each Member shall give investment recommendations and reviews.
