Delegation of Authority and Duties. i. The management, policies and control of the Company shall be vested exclusively in the Board; provided, however, that the Board may delegate its rights and powers to third parties, including to an investment adviser, as it may determine. Unless otherwise specified in this Agreement, consent or approval by the Company shall be determined by the Board.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (TCW Direct Lending VIII LLC), Limited Liability Company Agreement (Kayne Anderson BDC, LLC), Limited Liability Company Agreement (TCW Direct Lending VII LLC)
Delegation of Authority and Duties. i. The management, policies and control of the Company shall be vested exclusively in the BoardBoard (or, if the Board is not yet appointed, the Sole Member); provided, however, that the Board (or, if the Board is not yet appointed, the Sole Member) may delegate its rights and powers to third parties, including to an investment adviser, as it may determine. Unless otherwise specified in this Agreement, consent or approval by the Company shall be determined by the BoardBoard (or, if the Board is not yet appointed, the Sole Member).
Appears in 2 contracts
Samples: Limited Liability Company Agreement (TCW Spirit Direct Lending LLC), Limited Liability Company Agreement (TCW Star Direct Lending LLC)
