LIMITATIONS ON RIGHTS AND POWERS. Except by a Vote of the Members which is evidenced in writing, neither the Manager nor any officers of the LLC shall have the authority to: (i) Enter into or commit to any agreement, contract, commitment or obligation on behalf of the LLC obligating any Member or Principal to fund additional capital, to make or guarantee a loan or to increase its personal liability either to the LLC or to third parties; (ii) Permit the LLC's funds to be commingled with the funds of any other Person; (iii) Do any act in contravention of this Agreement; (iv) Do any act which would make it impossible to carry on the business of the LLC; (v) Confess a judgment against the LLC; or (vi) Sell, exchange or otherwise dispose of all or substantially all of the assets of the LLC, whether in a single transaction or in a series of related transactions, or merge the LLC with or into any other limited liability company, limited partnership, corporation or other entity.
Appears in 5 contracts
Samples: Operating Agreement (Euroweb International Corp), Operating Agreement (Euroweb International Corp), Operating Agreement (Emvelco Corp.)
