Certain Restrictions and Requirements. (a) No Member may use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. No Member shall have authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof. (b) From and after the Closing Date, no Person may or shall be admitted as a member of the Company except pursuant to and in accordance with Article VIII hereof. (c) Each Member, other than the Initial Member, shall at all times meet the qualifications of a Qualified Transferee.
Appears in 14 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Certain Restrictions and Requirements. (a) No Member may use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. No Member shall will have authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof.
(b) From and after the Closing Date, no Person may or shall will be admitted as a member of the Company except pursuant to and in accordance with Article VIII hereof.
(c) Each Member, other than the Initial MemberMember (and its Related Persons), shall must at all times meet the qualifications of a Qualified Transferee.
Appears in 7 contracts
Samples: Private Owner Interest Sale and Assignment Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Certain Restrictions and Requirements. (a) No Member may use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. No Member shall have authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof.
(b) From and after the Closing Date, no Person may or shall be admitted as a member of the Company except pursuant to and in accordance with Article VIII hereof.
(c) Each Member, other than the Initial MemberMember (and its Related Persons), shall at all times meet the qualifications of a Qualified Transferee.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Private Owner Interest Sale and Assignment Agreement
Certain Restrictions and Requirements. β
(a) No Member may use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. No Member shall will have authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof.
(b) From and after the Closing Date, no Person may or shall will be admitted as a member of the Company except pursuant to and in accordance with Article VIII hereof.hereof.β
(c) Each Member, other than the Initial MemberMember (and its Related Persons), shall must at all times meet the qualifications of a Qualified Transferee.
Appears in 1 contract
Samples: Private Owner Interest Sale and Assignment Agreement
