Common use of Lack of Authority Clause in Contracts

Lack of Authority. No Unitholder or Member, in its capacity as such, has the authority or power to act for or on behalf of the Company in any manner or way, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law and this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (loanDepot, Inc.), Limited Liability Company Agreement (loanDepot, Inc.)

AutoNDA by SimpleDocs

Lack of Authority. No Unitholder or Member, in its capacity as such, has the authority or power to act for or on behalf of the Company in any manner or way, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the BoardManager, and the Unitholders and Members hereby consent to the exercise by the Board Manager of the powers conferred on it by law and this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Clearwater Analytics Holdings, Inc.), Limited Liability Company Agreement (Clearwater Analytics Holdings, Inc.)

Lack of Authority. No Unitholder or Member, Member in its capacity as such, such has the authority or power to act for or on behalf of the Company in any manner or way, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law and this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (loanDepot, Inc.), Limited Liability Company Agreement (loanDepot, Inc.)

Lack of Authority. No Unitholder or Member, (in its capacity as such, a Unitholder) has the authority or power to act for or on behalf of the Company in any manner or waymanner, to bind the Company, or do take any act action that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been . The Unitholders expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law this Agreement and this Agreementapplicable Law.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Ardent Health Partners, LLC), Limited Liability Company Agreement (Ardent Health Partners, LLC)

Lack of Authority. No Unitholder in his, her, or Member, in its capacity as such, such (other than the members of the Board acting as the Board or an authorized Officer of the Company) has the authority or power to act for or on behalf of the Company in any manner or waymanner, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, Company or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law and this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (VWR Funding, Inc.), Limited Liability Company Agreement (VWR, Inc.)

Lack of Authority. No Unitholder or Member, in its capacity as suchsuch (other than through its Representative, as a Representative) has the authority or power to act for or on behalf of the Company in any manner or wayCompany, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, Company or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board and the Representatives of the powers conferred on it them by applicable law and this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cempra Holdings, LLC)

Lack of Authority. No Unitholder or Member, in its capacity as such, a Unitholder has the authority or power to act for or on behalf of the Company in any manner or wayCompany, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, Company or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the . The Unitholders and Members hereby consent to the exercise by the Board Managers of the powers conferred on it them by law and this Agreement.

Appears in 1 contract

Samples: Operating Agreement

AutoNDA by SimpleDocs

Lack of Authority. No Without derogation to a Unitholder's rights or obligations under any Related Agreement, no Unitholder or Member, in its capacity as such (other than the members of the Board acting as the Board or an authorized Officer of the Company acting as such, ) has the authority or power to act for or on behalf of the Company in any manner or waymanner, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, Company or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law applicable Law and this Operating Agreement.

Appears in 1 contract

Samples: Operating Agreement (Metaldyne Corp)

Lack of Authority. No Unitholder or Member, in its capacity as such, such (other than through its Representative or as a Representative) has the authority or power to act for or on behalf of the Company in any manner or wayCompany, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, Company or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the Board, Company and the Unitholders and Members hereby consent to the exercise by the Board and the Representatives of the powers conferred on it them by law and this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Alliance Laundry Holdings LLC)

Lack of Authority. No Unitholder or Member, Member in its capacity as such, such has the authority or power to act for or on behalf of the Company in any manner or way, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to and not revoked from such Member by the BoardManager, and the Unitholders and Members hereby consent to the exercise by the Board Manager of the powers conferred on it by law and this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Chicago Pacific Founders UGP, LLC)

Lack of Authority. No Unitholder or Member, in its capacity as such, has the authority or power to act for or on behalf of the Company in any manner or way, to bind the Company, or do any act that would be (or could be construed as) binding on the Company, in any manner or way, or to make any expenditures on behalf of the Company, unless such specific authority has been expressly granted to to, and not revoked from from, such Member by the Board, and the Unitholders and Members hereby consent to the exercise by the Board of the powers conferred on it by law and this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (ChromaDex Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!