Common use of Absolute Restrictions Clause in Contracts

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. The Board of Directors shall not have the authority to: (i) Do any act that is in contravention of applicable lawlaw or this Agreement or that would make it impossible to carry on the ordinary business of the Company; (ii) Possess property of the Company propertyor its Controlled Affiliates, or assign rights in specific Company or to such property, for other than a purpose in furtherance of the Company’s business or interests; 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 Agreement. (iv) Amend the business Articles of the CompanyOrganization or this Operating Agreement.