Limitations on Power of Members. Notwithstanding any other provisions of this Agreement, no debt or liability of more than ____________________ may be contracted on behalf of the Company without the approval of the majority of Membership Interests. The signature of ______________ Members is required to sign contracts and obligations on behalf of the Company. Additionally, the unanimous approval of the Members must be obtained prior to: The merger of the Company with another business entity. The establishment of different Member classes. A change in the authorized businesses of the Company (Section 1.4), Any act which would make it impossible to carry on the ordinary business of the Company The confession of judgment against the Company Any other transaction described in this Agreement which requires the approval, consent or vote of all of the Members. The sale, exchange or other disposition of substantially all of the Company’s assets occurring as part of single or multiple transactions or plan.
Appears in 33 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
