Absolute Restrictions Sample Clauses
The Absolute Restrictions clause sets forth specific prohibitions or limitations that are strictly enforced within an agreement. Typically, this clause identifies actions, uses, or behaviors that are categorically forbidden, such as the unauthorized disclosure of confidential information, reverse engineering of proprietary technology, or use of materials for unlawful purposes. By clearly delineating these non-negotiable boundaries, the clause helps prevent misunderstandings and mitigates risk by ensuring all parties are aware of and adhere to essential restrictions.
Absolute Restrictions. Notwithstanding the other provisions of this Article 10, no transfer of any Unit by any Member shall be made if the transfer: (a) would violate applicable federal and/or state securities laws or rules and regulations of the Securities and Exchange Commission, any state securities commission or any other governmental authority with jurisdiction over the transfer; (b) would materially and adversely affect the classification of the Company as a partnership for federal or state income tax purposes; or (c) would affect the Company’s qualification as a limited liability company under the Act.
Absolute Restrictions. The Board of Directors shall not have the authority to:
(i) Do any act in contravention of applicable law;
(ii) Possess Company property, or assign rights in specific Company property, for other than a purpose of the Company; or
(iii) Perform any act that would subject the Members to liability in any jurisdiction except as expressly provided in this Agreement and except for liability for any income taxes attributable to the business of the Company.
Absolute Restrictions. Notwithstanding anything to the contrary in this Agreement, the General Partner shall have no authority:
(a) To do any act in contravention of this Agreement or any Law or any Rule or Regulation;
(b) To do any act that would make it impossible to carry on its business; or
(c) To possess Partnership property or assign the rights of the Partnership in specific property for other than a Partnership purpose.
Absolute Restrictions. The Managing Member shall not have the authority to:
(I) Do any act that is in contravention of applicable law or this Agreement or that would make it impossible to carry on the ordinary business of the Company;