Common use of Authority as to Third Persons Clause in Contracts

Authority as to Third Persons. 7.6.1 No third party dealing with the Company shall be required to investigate the authority of the Member. No purchaser of any property or interest owned by the Company shall be required to determine the right to sell or the authority of the Member to sign and deliver any instrument of transfer on behalf of the Company, or to see to the application or distribution of revenues or proceeds paid or credited in connection therewith. 7.6.2 The Member shall have full authority to execute on behalf of the Company any and all agreements, contracts, conveyances, deeds, mortgages and other instruments, and the execution thereof by the Member executing on behalf of the Company shall be the only execution necessary to bind the Company thereto.

Authority as to Third Persons. 7.6.1 No third party dealing with the Company shall be required to investigate the authority of the MemberManaging Member or secure the approval or confirmation by the Members of any act of such party in connection with the conduct of the Company business. No purchaser of any property or interest owned by the Company shall be required to determine the right to sell or the authority of the Managing Member to sign and deliver any instrument of transfer on behalf of the Company, or to see to the application or distribution of revenues or proceeds paid or credited in connection therewith. 7.6.2 The . Subject to the terms of this Agreement (including, without limitation, Section 4.1 and Section 6.4), the Managing Member shall have full authority to execute on behalf of the Company any and all agreements, contracts, subleases, licenses, conveyances, deeds, mortgages and other instruments, and the execution thereof by the Managing Member executing on behalf of the Company shall be is the only execution necessary to bind the Company theretothereto (and no signature of any other Member is required).