Authority of Managers. Any Person serving as Manager may exercise all the powers of the Company whether derived from law, the Articles of Organization or this Agreement, except such powers as are by statute, by the Articles of Organization or by this Agreement vested solely in the Members.
Authority of Managers. Unless specifically authorized by a resolution duly adopted by the Managers, no Manager, solely in his capacity as a Manager, shall have the authority or power to act as agent for or on behalf of the Company or any other Manager, to do any act which would be binding on the Company or any other Manager, to incur any expenditures on behalf of or for the Company, or to execute, deliver and perform any agreements, acts, transactions or other matters on behalf of the Company.
Authority of Managers. Subject to the provisions of any class or series of Units at the time outstanding, the Board of Managers shall have the power to dissolve or liquidate the Company; provided; however, that except as otherwise permitted by law, such action shall have been approved, at a meeting of the Members called for that purpose, by the affirmative vote of the holders of not less than a majority of the Units then outstanding and entitled to vote thereon (other than a sale in the ordinary course of the Company’s business, as to which no such vote is required).
Authority of Managers. The Managers shall have the sole and exclusive right to manage the Company and to make all decisions regarding the Company's business, including the right, power, and authority to do in the name of, and acting solely on behalf of and for, the Company all lawful things that the Company might do that in the Manager's sole good faith business judgment or of the best interests of the Company are necessary, proper, convenient, or desirable to carry out the purposes of the Company, including, but not limited to, the right, power, and authority at any time or from time to time acting in the name of, on behalf of, and for the Company to do for the Company each or anyone or more of the following: (a) to own, acquire by lease or purchase, develop, maintain, improve, grant options with respect to, sell, convey, finance, assign, mortgage, or lease real estate and/or personal property and to cause to have constructed improvements upon any real estate necessary, convenient, or incidental to the accomplishment of the Company's purposes; (b) to execute on behalf of the Company any and all agreements, contracts, documents, certifications, and instruments necessary, proper, or convenient in connection with the development, management, maintenance, and operation of the Company or of any properties or other assets in which the Company has an interest, including without limitation, necessary easements to public or quasi-public bodies or public utilities; (c) to borrow money and issue evidences of the Company's indebtedness in furtherance of any or all of the Company's purposes, and to secure the repayment thereof by deed of trust, mortgage, security interest, pledge, or other lien or encumbrance on the Company's properties or assets; (d) to prepay in whole or in part, negotiate, refinance, recast, increase, renew, modify, amend, or extend any secured or other indebtedness (or the evidence thereof) for or on behalf of the Company or affecting Company properties or assets and in connection therewith to execute any extensions, renewals, amendments, or modifications of any evidences of indebtedness secured by deeds of trust, mortgages, security interests, pledges, or other encumbrances covering such properties or assets; (e) to enter into any kind of contract or activity and to cause the Company to perform and carry out activities or contracts of any kind necessary to, or in connection with, or incidental to the accomplishment of the Company's purposes, so long as those activities...
Authority of Managers. The business and affairs of the Company shall be managed by or under the direction of the Board of Managers of the Company (the “Board”). The Board shall have five (5)
Authority of Managers. The managers are vested with the exclusive authority to manage the company’s business and affairs, and except as otherwise provided in this agreement, the members have no right to participate in the management of the company’s business and affairs unless they are also managers. Subject to the limitations imposed by the act, this agreement, or action of the managers, each manager is an agent of the company and has authority to bind the company in the ordinary course of its business. For example, a manager may:
8.5.1. Expend the company’s funds in the conduct of its business;
8.5.2. Sign and deliver all agreements and documents that are necessary or desirable to carry out the company’s business, including documents transferring title to, leasing, or granting a security interest in any of the company’s assets, without additional signatures being required;
8.5.3. Borrow money for use in the company’s business and sign and deliver promissory notes or other negotiable or nonnegotiable evidences of the company’s indebtedness along with mortgages, trust deeds, security agreements, pledge agreements, or other documents securing the indebtedness with assets of the company; and
8.5.4. Appoint officers, such as President, Vice President, Secretary and Treasurer to carry out functions as determined by the Managers to be in the best interest of the Company, including the ability to sign contracts, agreements, obligations, and/or have signing authority on bank accounts.
8.5.5. Engage such persons as may be advisable to operate the company’s business.
Authority of Managers. In addition to the powers that now or hereafter can be granted to managers under the Act and to all other powers granted under any other provision of this Agreement, the Managers shall have full power and authority to do all things on such terms as they, in their sole discretion, may deem necessary or appropriate to conduct, or cause to be conducted, the business and affairs of the Company.
Authority of Managers. The Managers are given broad authority, by and with the consent of their respective legal counsels, to mutually alter the structure of the Program and its requirements in any way that is consistent with the spirit and intent of this Agreement and the respective budgetary procedures of the Parties.
Authority of Managers. Management of the Company shall be vested exclusively in the Managers. Except with respect to the matters as to which the approval of the Member is expressly required hereunder, the Managers will have full and exclusive authority to manage the business and affairs of the Company and to perform all acts as may be necessary, incidental or appropriate for the conduct of the Company’s business. The Managers have the power and authority to delegate to one or more other persons the Managers’ rights and powers to manage and control the business and affairs of the Company. Unless authorized to do so by this Agreement or by the Managers, neither the Member, nor any agent or employee of the Company, shall have any power or authority to bind the Company in any way, to pledge its credit or to render it liable for any purpose,
Authority of Managers. Upon the terms set forth in this Article VII, --------------------- the Managers are authorized (a) to admit substitute Members; (b) to exercise the power of attorney granted in Article IX to amend this Operating Agreement or the Certificate of Formation to reflect such substitution; and (c) to file any such amendment with the appropriate authorities.
