Rights and Duties of the Manager. (a) The Company shall be a manager-managed limited liability company as set forth in Section 401 and Section 101 of the Delaware Act, and as otherwise provided in the Delaware Act. The initial manager of the Company shall be iCap Vault Management, LLC (the “Manager”).
Rights and Duties of the Manager. Section 5.1
Rights and Duties of the Manager. During the term of this Agreement, and in the course of its management of the Applicable Functions:
Rights and Duties of the Manager. (a) The business and affairs of the Company shall be managed by its Manager in accordance with this Agreement. The Manager shall constitute the “manager” of the Company as contemplated under the Act. Except for situations in which the approval of the Member is expressly required in this Agreement or by nonwaivable provisions of the Act, all powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, the Manager.
Rights and Duties of the Manager. (a) The business and affairs of the Company shall be managed by its Manager. The Manager shall direct, manage, and control the business of the Company to the best of such Manager’s ability. The Manager shall not be removed without the unanimous written consent of the Members. Except for situations in which the approval of the Members is expressly required in this Agreement or by nonwaivable provisions of the Act, the Manager shall have full and complete authority, power, and discretion to manage and control the Company’s business, affairs, and properties, to make all decisions regarding those matters, and to perform any and all other acts or activities customary or incident to the Company’s management. By acceptance of the position of Manager, each Manager agrees to be bound by and subject to the terms of this Agreement.
Rights and Duties of the Manager. (a) The business and affairs of the Company shall be managed by or under the direction of the Manager, which shall have the right, power and authority to exercise all of the powers of the Company, except as specifically set forth in this Agreement or required by non-waivable provisions of the Act or other applicable law, in the Manager’s sole and absolute discretion. Unitholders (in their respective capacities as such) shall have no right, power or authority to vote, consent or approve with respect to any Company matter not required pursuant to this Agreement to be submitted to such vote, consent or approval by the Unitholders. No Unitholder (in its capacity as such) shall have any right, power or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company.
Rights and Duties of the Manager. (a) The business and affairs of the Company shall be managed by its Manager. The Manager shall direct, manage, and control the business of the Company to the best of the Manager's ability. Except for situations in which the approval of the Members is expressly required in this Agreement or by nonwaivable provisions of the Act, the Manager shall have full and complete authority, power, and discretion to finance and control the Company's business, affairs, and properties, to make all decisions regarding those matters, and to perform any and all other acts or activities customary or incident to the Company's management. By acceptance of the position of Manager, each Manager agrees to be bound by and subject to the terms of this Agreement. The above notwithstanding and subject to any limitations imposed on the Special Assets in this Agreement, the Settlement Trustee shall have the right to direct the Manager on the manner with which (i) to direct, manage and control the Special Assets, including subject to Article 20, decisions on selling, transferring or otherwise disposing of the Special Assets and (ii) to direct manage and control any funds received by the Company with respect to the Special Assets. The Settlement Class Counsel shall have the right to direct the Manager on the manner with which to cast any vote associated with the Special Assets.
Rights and Duties of the Manager. 14 Section 8.1 Exclusive Control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Section 8.2 Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Section 8.3 Powers and Authority of the Managers . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Section 8.4 Compensation from Portfolio Companies . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Section 8.5 Managers to Act in Best Interests of Fund . . . . . . . . . . . . . . . . . . . . . . . . 16 Section 8.6 Limitations on Powers of the Managers . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Section 8.7 Removal of a Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Section 8.8 Advisory and Management Agreement, Management Fees and Expenses . . . . . . . . . . . . . 18 Section 8.9 No Management by Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Section 8.10 Policy with Respect to Investment Opportunities and Conflicts of Interest . . . . . . . . 20 Section 8.11 Coinvestment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Rights and Duties of the Manager. 5.1 Contract with the Manager
Rights and Duties of the Manager
