Acts of the Managers as Conclusive Evidence of Authority. Every contract, deed, mortgage, lease and other instrument executed by a duly elected Manager shall be conclusive evidence in favor of every person relying thereon or claiming thereunder that at the time of the delivery thereof (a) the LLC was in existence, (b) neither this Agreement nor the Articles had been amended in any manner so as to restrict the delegation of authority among Members or the Managers, and (c) the execution and delivery of such instrument was duly authorized by Members and/or the Managers as required by this Agreement.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Tarrant Apparel Group), Limited Liability Company Operating Agreement (Tarrant Apparel Group), Limited Liability Company Operating Agreement (Tarrant Apparel Group)
