Common use of Management by Managers Clause in Contracts

Management by Managers. (a) Subject to the provisions of Section 5.02, the powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, managers of the Company ("Managers"). No Member in its capacity as a Member has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company. (b) In managing the business and affairs of the Company and exercising its powers, the Managers shall act (i) collectively through resolutions adopted at meetings and in written consents pursuant to Sections 5.04 and 5.08; and (ii) through committees and individual Managers to which authorities and duties have been delegated pursuant to Section 5.05. No Manager has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company, except in accordance with the immediately preceding sentence. Decisions or actions taken by the Managers in accordance with this Agreement (including this Section 5.01 and Section 5.02) shall constitute decisions or actions by the Company and shall be binding on each Manager, Member, Officer (as defined in Section 5.09), and employee of the Company.

Management by Managers. (ai) Subject to the provisions of Section 5.02, the The powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, managers of its Managers. Except as provided in this Agreement or in the Company ("Managers"). No Member Act, no Member, in its capacity as a Member Member, has the right, power, power or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company. (bii) In managing the business and affairs of the Company and exercising its powers, the Managers shall act (iA) collectively through resolutions adopted at meetings and in written consents pursuant to Sections 5.04 7(c) and 5.087(f); and (iiB) through committees and individual Managers Officers (as defined in Section 7(g)) to which authorities and duties have been delegated pursuant to Section 5.05. No Manager has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company, except in accordance with the immediately preceding sentence7(h). Decisions or actions taken by the Managers in accordance with this Agreement (including this Section 5.01 and Section 5.02) shall constitute decisions or actions by the Company and shall be binding on the Managers and each Manager, Member, Officer (as defined in Section 5.09), and employee of the Company.

Management by Managers. (a) 6.1.1 Subject to the provisions of Section 5.026.2, the powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, managers of the Company ("Managers"). No Member in his, her or its capacity as a Member has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company. (b) 6.1.2 In managing the business and affairs of the Company and exercising its powers, the Managers shall act (i) collectively through resolutions adopted at meetings and in written consents pursuant to Sections 5.04 and 5.08Section 7.3.4; and (ii) through committees and individual Managers to which authorities and duties have been delegated pursuant to Section 5.056.6. No Manager has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company, except in accordance with the immediately preceding sentence. Decisions or actions taken by the Managers in accordance with this Operating Agreement (including this Section 5.01 6.1, Section 6.2, Section 6.7 and Section 5.026.8) shall constitute decisions or actions by the Company and shall be binding on each Manager, Member, Officer (as defined in Section 5.096.12), and employee of the Company.

Management by Managers. (a) 7.1.1 Subject to the provisions of Section 5.027.2 and the rights of the Preferred Units in ARTICLE V, the powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, managers of the Company ("Managers"). No Member in his, her or its capacity as a Member has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company. (b) 7.1.2 In managing the business and affairs of the Company and exercising its powers, the Managers shall act (i) collectively through resolutions adopted at meetings and in written consents pursuant to Sections 5.04 and 5.08Section 8.3.4; and (ii) through committees and individual Managers to which authorities and duties have been delegated pursuant to Section 5.057.6. No Manager has the right, power, or authority to act for or on behalf of the Company, to do any act that would be binding on the Company, or to incur any expenditures on behalf of the Company, except in accordance with the immediately preceding sentence. Decisions or actions taken by the Managers in accordance with this Operating Agreement (including this Section 5.01 7.1, Section 7.2, Section 7.7 and Section 5.027.8) shall constitute decisions or actions by the Company and shall be binding on each Manager, Member, Officer (as defined in Section 5.097.12), and employee of the Company.