Management by Management Committee. The business and affairs of the Company shall be fully vested in, and managed by, a Management Committee (the “Management Committee”) and subject to the discretion of the Management Committee, officers elected pursuant to Section 6.12. The Management Committee and officers shall collectively constitute “managers” of the Company within the meaning of the Act. Except as otherwise provided in this Agreement, the authority and functions of the Management Committee, on the one hand, and of the officers, on the other hand, shall be identical to the authority and functions of the board of directors and officers, respectively, of a corporation organized under the General Corporation Law of the State of Delaware. The officers shall be vested with such powers and duties as are set forth in Section 6.12 and as are specified by the Committee. Accordingly, except as otherwise specifically provided in this Agreement, the business and affairs of the Company shall be managed under the direction of the Management Committee, and the day-to-day activities of the Company shall be conducted on the Company’s behalf by the officers who shall be agents of the Company.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.), Limited Liability Company Agreement (Southern Natural Gas Company, L.L.C.), Limited Liability Company Agreement (Colorado Interstate Gas Company, L.L.C.)
