Extent of Power. The special power of attorney granted by the Members: (a) Is a special power of attorney coupled with an interest, is irrevocable and shall survive and not be affected by the subsequent death or incapacity of the granting Members; (b) Shall survive the delivery of a transfer by any Member of the whole or any portion of his interest; except that where the transferee thereof has been admitted to the Company as a Subsequent Member, it shall survive the delivery of such transfer for the sole purpose of enabling the Board or any Officer to execute, acknowledge and file any instrument necessary to effectuation such transfer.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Versus Capital Real Assets Fund LLC), Limited Liability Company Agreement (Versus Capital Multi-Manager Real Estate Income Fund LLC), Limited Liability Company Agreement (Versus Capital Multi-Manager Real Estate Income Fund LLC)
Extent of Power. The special power of attorney granted by the Members:
: (a) Is a special power of attorney coupled with an interest, is irrevocable and shall survive and not be affected by the subsequent death or incapacity of the granting Members;
; (b) Shall survive the delivery of a transfer by any Member of the whole or any portion of his interest; except that where the transferee thereof has been admitted to the Company as a Subsequent Member, it shall survive the delivery of such transfer for the sole purpose of enabling the Board or any Officer to execute, acknowledge and file any instrument necessary to effectuation such transfer.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Versus Capital Real Assets Fund LLC)
