Common use of Lack of Authority Clause in Contracts

Lack of Authority. No Shareholder or Member (other than the Managing Member) in its capacity as such has the authority or power to act for or on behalf of the LLC in any manner, to do any act that would be (or could be construed as) binding on the LLC or to make any expenditures on behalf of the LLC, and the Shareholders and Members hereby consent to the exercise by the Managing Member of the powers conferred on it by law and this Agreement.

Lack of Authority. No Shareholder or Member (other than the Managing MemberManagers acting as the Board or an authorized Officer of Holdings LLC) in its capacity as such has the authority or power to act for or on behalf of the LLC in any mannerHoldings LLC, to do any act that would be (or could be construed as) binding on the Holdings LLC or to make any expenditures on behalf of the Holdings LLC, and the Shareholders and Members hereby consent to the exercise by the Managing Member of the powers conferred on it by law and this Agreement.