Limitation on Managers Clause Samples
The 'Limitation on Managers' clause restricts the authority or actions of managers within an organization or agreement. Typically, this clause outlines specific activities that managers are not permitted to undertake without additional approval, such as entering into large contracts, incurring significant debt, or making major business decisions. By clearly defining these boundaries, the clause helps prevent unauthorized actions, ensures oversight, and protects the interests of stakeholders by allocating decision-making power appropriately.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only one of ▇▇▇▇▇▇▇ ▇▇▇▇▇ or the Alternative Manager on any single given day, but in no event more than one, and the Company shall in no event request that ▇▇▇▇▇▇▇ ▇▇▇▇▇ and the Alternative Manager sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to (i) exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or (ii) sales solely to employees or security holders of the Company or its Subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, and (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only one of the Manager or the Forward Seller, as the case may be, or the respective Alternative Manager on any single given day, but in no event more than one, and the Company shall in no event request that the Manager or the Forward Seller, as the case may be, or one or more of the Alternative Managers sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to (i) the exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or (ii) sales solely to employees or security holders of the Company or its subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement and (c) such limitation shall not apply if, prior to any such request to sell Securities, all Securities the Company has previously requested the Manager, the Forward Seller or any Alternative Managers to sell have been sold.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only the Manager or the respective Alternative Manager on any single given day, but in no event more than one, and the Company shall in no event request that the Manager and one or more of the Alternative Managers sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to (i) the exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or (ii) sales solely to employees or security holders of the Company or its subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement and (c) such limitation shall not apply if, prior to any such request to sell Securities, all Securities the Company has previously requested the Manager to sell have been sold.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only one of ▇▇▇▇▇ Fargo or an Alternative Manager on any single given day, but in no event more than one, and the Company shall in no event request that ▇▇▇▇▇ Fargo and one or both of the Alternative Managers sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to (i) exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or (ii) sales solely to employees or security holders of the Company or its Subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement and (c) if ▇▇▇▇▇ Fargo or one of the Alternative Managers shall decline a Placement Notice in accordance with Section 2 hereof, the Company may request that ▇▇▇▇▇ Fargo or the other Alternative Managers, as applicable, place the Securities covered by such Placement Notice.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only one of the Agents on any single given day (subject to the exceptions in Section 7(j)), but in no event more than one, and the Company shall in no event request that multiple Agents sell Securities on the same day; provided, however, that such limitation shall not apply on any day during which no sales are made pursuant to this Agreement.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only the Manager or the respective Alternative Manager on any single given day, but in no event more than one (the “Current Manager”), and the Company shall in no event request that the Manager and one or more of the Alternative Managers sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to (i) the exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or (ii) sales solely to employees or security holders of the Company or its subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement and (c) such limitation shall not apply if, prior to any such request to sell Securities, all Securities the Company has previously requested the Manager to sell have been sold or the applicable Placement Notice has been terminated or superseded. Notwithstanding the foregoing, a sale may be effected by a second Manager (the “Second Manager”) on a single given day if (i) such sale is executed pursuant to a single privately negotiated transaction, which may include a block trade (a “Single Negotiated Transaction”), and (ii) the Company notifies the applicable Current Manager that a Second Manager was appointed to execute such Single Negotiated Transaction.
Limitation on Managers. The Company agrees that any offer to sell, any solicitation of an offer to buy or any sales of Securities shall only be effected by or through only one of the Sales Agent or an Alternative Sales Agent on any single given day, but in no event more than one, and the Company shall in no event request that the Sales Agent and any of Alternative Sales Agents sell Securities on the same day; provided, however, that (a) the foregoing limitation shall not apply to 44.%2.%3.%4. exercise of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or 45.%2.%3.%4. sales solely to employees or security holders of the Company or the Subsidiaries, or to a trustee or other person acquiring such securities for the accounts of such persons, and (b) such limitation shall not apply on any day during which no sales are made pursuant to this Agreement.