Conveyances. All of the assets of the Company shall be held in the name of the Company, unless the Members shall determine that a Manager or a Manager’s designee may hold title to any property as nominee for the Company. Any deed, ▇▇▇▇ of sale, mortgage, lease, contract of sale or other instrument purporting to convey or encumber the interest of the Company of all or any portion of the assets of the Company shall be sufficient if signed on behalf of the Company by one (1) or more Managers. No person shall be required to inquire into the authority of any individual to sign any instrument which is executed pursuant to the provisions of this Section 15.9.
Appears in 10 contracts
Sources: Operating Agreement, Operating Agreement (Chaparral CO2, L.L.C.), Merger Agreement (Chaparral Energy, Inc.)
Conveyances. All of the assets of the Company shall be held in the name of the Company, unless the Voting Members shall determine that a Manager or a Manager’s designee any Member may hold title to any property as nominee for the Company. Any deed, ▇▇▇▇ bill of sale, mortgage, lease, contract of sale or other instrument purporting to convey or encumber the interest of the Company of or all or any portion of the assets of the Company shall not be sufficient if unless signed on behalf by a Unanimous Vote of the Company by one (1) or more ManagersVoting Members. No person shall be required to inquire into the authority of any individual to sign any instrument which is executed pursuant to the provisions provision of this Section 15.915.11.
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