Management by Member. 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, the Member. The management of the Company is reserved to the Member, and the Company shall not have “managers,” as that term is used in the Act.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Penn Virginia Holding Corp), Limited Liability Company Agreement (Penn Virginia Holding Corp), Limited Liability Company Agreement (Penn Virginia Holding Corp)
Management by Member. 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 and all of its powers shall be exercised by or under the direction of, of the Member. The management Without limiting the foregoing, the Member shall have all power and authority of a “manager” within the Company is reserved to the Member, and the Company shall not have “managers,” as that term is used in meaning of the Act.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Lighthouse Life Capital, LLC), Limited Liability Company Agreement (Lighthouse Life Capital, LLC), Limited Liability Company Agreement (Lighthouse Life Capital, LLC)
Management by Member. (a) 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, the Member. The management of , and (b) the Member may make all decisions and take all actions for the Company is reserved to the Member, and the Company shall not have “managers,” as that term is used otherwise provided for in the Actthis Agreement.
Appears in 2 contracts
Samples: Company Agreement (ROX Financial LP), Limited Liability Agreement (JMP Group LLC)
Management by Member. 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, the Member. The management of the Company is reserved to the Member, and the Company shall not have “managers,” as that term is used in the Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.)
Management by Member. The management of the Company is fully reserved to the Member, and the Company shall not have “managers,” as that term is used in the Act. 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, the Member, who shall make all decisions and take all actions for the Company. The management In managing the business and affairs of the Company is reserved to and exercising its powers, the Member, and Member shall act through resolutions adopted at meetings or in actions by written consent. Decisions or actions taken by the Member in accordance with this Agreement shall constitute decisions or action by the Company and shall not have “managers,” as that term is used in be binding on the ActCompany.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Gyrodyne, LLC)
