Limitation on Authority of Members. 5.1.4.1. If and when the Company has more than one Member, then no Member is an agent of the Company solely by virtue of being a Member, and no Member has authority to act for the Company solely by virtue of being a Member.
5.1.4.2. This Section 5.1 supersedes any authority granted to the Members pursuant to the Act. Any Member who takes any action or binds the Company in violation of this Section 5.1 shall be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
Limitation on Authority of Members. No Member is an agent of the Company solely by virtue of being a Member, and no Member has authority to act for the Company solely by virtue of being a Member. This Section 4.10 supersedes any authority granted to the Members by the Act. Any Member who takes any action or binds the Company in violation of this Operating Agreement shall be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
Limitation on Authority of Members i. No Member is an agent of the Company solely by virtue of being a Member, and no Member has authority to act for the Company solely by virtue of being a Member.
ii. This Section 5.1 supersedes any authority granted to the Members pursuant to the Act. Any Member who takes any action or binds the Company in violation of this Section 5.1 will be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify the Company with for the loss or expense.
Limitation on Authority of Members. No Member shall be an agent of the Fund solely by virtue of being a Member, and no Member shall have authority to act for the Fund solely by virtue of being a Member. Other than the Manager, no Member, regardless of whether authorized to do so by other Members, shall have power to bring suit on behalf of the Fund.
Limitation on Authority of Members. No Member shall participate in the management or control of the business of, or shall have any rights or powers with respect to, the Company except those expressly granted to it by the terms of this Agreement or those duly conferred on it by the Company Board. No Member is an agent of the Company solely by virtue of being a Member, and no Member has authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditures on behalf of the Company solely by virtue of being a Member, and the Members hereby consent to the exercise by the Company Board and Officers of the Company of the powers conferred on them by law and this Agreement. This Section 8.4 supersedes any authority granted to the Members pursuant to the Act. Any Member who takes any action or binds the Company in violation of this Section 8.4 shall be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
Limitation on Authority of Members. (a) No Member is an agent of the Company solely by virtue of being a Member, and no Member has authority to act for the Company solely by virtue of being a Member. Only the Managers are authorized to act for the Company, and no Member has any authority to act for the Company unless such Member is also a Manager.
(b) This Section 5.1.4 supersedes any authority granted to the Member pursuant to Section 18-402 of the Act. Any Member who takes any action or binds the Company in violation of this Section 5.1.4 shall be solely responsible for any loss or expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
Limitation on Authority of Members. Neither Member, by virtue of being a Member, (i) is an agent of the Company or (ii) has authority to act for the Company. Any Member that purports to take any action or to bind the Company in violation of this Section 5.1 shall be solely responsible for any resulting loss and expense incurred by the Company and shall indemnify and hold the Company harmless with respect to any such loss and expense.
Limitation on Authority of Members. (a) Except as expressly provided in this Agreement, required by the non-waivable provisions of the Act, or authorized by the Manager, no Member shall have any right, power or authority to participate in the management or control of the Company or its business and affairs or to act as an agent for or on behalf of the Company or to bind the Company or any other Member.
(b) No Member shall be required to perform services for the Company solely by virtue of being a Member. Unless authorized by the Manager, no Member shall perform any services for the Company or be entitled to compensation or reimbursement of expenses therefor.
(c) Any Member who acts beyond the scope of the authority granted by this Agreement shall, in addition to any other remedy available to the Company, the Manager or any other Member, be personally liable in damages to the Company, the Manager and each Member for any costs, losses or damages that any of them may incur or suffer as a consequence of such unauthorized act and shall reimburse, indemnify and hold harmless the Company, the Manager and every other Member with respect to any such costs, losses and damages.
Limitation on Authority of Members. No Member is an agent of Holdings LLC solely by virtue of being a Member, and no Member has authority to act for Holdings LLC solely by virtue of being a Member. For the avoidance of doubt, this Section 6.3 supersedes any authority granted to the Members pursuant to the Delaware Act. Any Member who takes any action or binds Holdings LLC in violation of this Section 6.3 shall be solely responsible for any loss and expense incurred by Holdings LLC as a result of the unauthorized action and shall indemnify and hold Holdings LLC harmless with respect to the loss or expense.
Limitation on Authority of Members. Notwithstanding anything to the contrary in the Act, no Holder in his capacity as a Holder shall have the authority to bind the Company. No Holder is an agent of the Company solely by virtue of being a Holder, and no Holder has authority to act for the Company solely by virtue of being a Holder. Any Holder who takes any action that binds the Company in violation of this Agreement shall be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
