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Common use of Limitation on Authority of Members Clause in Contracts

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.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Uranium Energy Corp)

Limitation on Authority of Members. Neither No Member is an agent of the Company solely by reason of being a Member, and no Member has authority to act for the Company solely 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 who takes action or to bind binds the Company in violation or breach of this Section 5.1 section shall be solely responsible for any resulting loss and and/or expense incurred by the Company as a result of such unauthorized action and shall indemnify indemnify, defend and hold harmless the Company harmless with respect to any such loss and and/or expense.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (American Sierra Gold Corp.), Limited Liability Company Agreement (American Sierra Gold Corp.)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 6.1 supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 6.1 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 6.4 supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 6.4 shall be solely responsible for any resulting loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with in respect to any such of the loss and or expense.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Pc Tel Inc), Limited Liability Company Agreement (Centerpoint Properties Trust)

Limitation on Authority of Members. Neither Member, No Member is an agent of the company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 8.1 supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take takes any action or to bind binds the Company in violation of this Section 5.1 8.1 shall be solely responsible for any resulting loss and expense incurred by the Company company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to any such the loss and or expense.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (American Uranium Corp), Limited Liability Company Operating Agreement (Strathmore Minerals Corp.)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 6.1 supersedes any authority granted to the Members pursuant to Section 17157 of the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 6.1 shall be solely responsible for any resulting loss and or expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to any such the loss and or expense.

Appears in 2 contracts

Samples: Operating Agreement (Titan Corp), Operating Agreement (L-3 Communications InfraredVision Technology CORP)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 8.1 supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take takes any action or to bind binds the Company in violation of this Section 5.1 8.1 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Strathmore Minerals Corp.), Limited Liability Company Operating Agreement (Yellowcake Mining Inc.)

Limitation on Authority of Members. Neither Member, i. No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany 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 that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 shall will be solely responsible for any resulting 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 any such for the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (Banyan Corp /Or/)

Limitation on Authority of Members. Neither Member, (i) No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the Company. Company solely by virtue of being a Member. (ii) Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 8(d) shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (Keyw Corp)

Limitation on Authority of Members. Neither Member, 5.1.4.1. No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. 5.1.4.2. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section paragraph 5.1 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (Natex Corp/Ut)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take takes any action or to bind binds the Company in violation of this Section 5.1 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Strathmore Minerals Corp.)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 5.2 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (Glk, LLC)

Limitation on Authority of Members. Neither Member, 5.1.4.1 No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the Company. Company solely by virtue of being a Member. 5.1.4.2 Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Farmstead Telephone Group Inc)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 6.4 supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 Article 6 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Centerpoint Properties Trust)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. This Section 11.11 supersedes any authority granted to the Members by the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 shall Agreement will be solely responsible for any resulting loss and expense incurred by the Company as a result of the unauthorized action and shall will indemnify and hold the Company harmless with respect to any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (MedEquities Realty Trust, Inc.)

Limitation on Authority of Members. Neither Member, 5.11.1 No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the Company. Company solely by virtue of being a Member. 5.11.2 Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 Paragraph 5.11 shall be solely responsible for any resulting 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 any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement (PHC Hospitals, LLC)

Limitation on Authority of Members. Neither Member, No Member is an agent of the Company solely by virtue of being a Member, (i) is an agent of the Company or (ii) and no Member has authority to act for the CompanyCompany solely by virtue of being a Member. Section 7.1 above supersedes any authority granted to the Members pursuant to the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 7.1 above shall be solely responsible for any resulting loss and expense all losses and expenses incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to any such loss losses and expenseexpenses.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Capstone Holding Corp.)

Limitation on Authority of Members. Neither Member, by virtue of being a Member, (i) No Member is an agent of the Company or (ii) only because of being a Member, and no Member has authority to act for or bind the CompanyCompany only because of being a Member. This Section 8.3 supersedes any agency authority granted to the Members including pursuant to the provisions of the Act. Any Member that purports to take who takes any action or to bind binds the Company in violation of this Section 5.1 shall Agreement will be solely responsible for any resulting loss and expense incurred by the Company as a result of the unauthorized action and shall will indemnify and hold the Company harmless with respect to any such the loss and or expense.

Appears in 1 contract

Samples: Operating Agreement