Common use of Management Under Direction of the Board Clause in Contracts

Management Under Direction of the Board. Subject to the consent rights provided in Section 8.5, the business and affairs of the Company shall be managed and controlled by a board of managers (the “Board,” and each member of the Board, a “Manager”), and the Board shall have full and complete discretion to manage and control the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary or appropriate to accomplish the purposes of the Company as set forth herein. Notwithstanding the foregoing, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f) through the Board and to such agents of the Company as designated by the Board.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Laredo Petroleum - Dallas, Inc.), Limited Liability Company Agreement (Laredo Petroleum, Inc.)

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Management Under Direction of the Board. Subject to the consent rights provided of the Members to the extent expressly set forth in Section 8.5this Agreement, the business and affairs of the Company shall be managed and controlled by a board of managers (the “Board,” and each member of the Board, a “Manager”), and the Board shall have full and complete discretion to manage and control conduct the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary necessary, advisable or appropriate to accomplish the purposes of the Company as set forth hereinin Section 2.4. Notwithstanding the foregoing, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or to otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f8.2(e) through the Board and to such agents of the Company as may be designated by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Robertson Corbin J Jr)

Management Under Direction of the Board. Subject to the rights of the Members to consent rights to or approve certain matters as expressly provided in Section 8.5, the business and affairs of the Company shall be managed and controlled by a board of managers (the “Board,” and each member of the Board, a “Manager”), and the Board shall have full and complete discretion to manage and control conduct the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary necessary, advisable or appropriate to accomplish the purposes of the Company as set forth hereinin Section 2.4. Notwithstanding the foregoing, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f) through the Board and to such agents of the Company as designated by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (USW Financing Corp.)

Management Under Direction of the Board. Subject to the consent rights provided in Section 8.5, the The business and affairs of the Company shall be managed and controlled by a board of managers (the “Board,” and each member of the Board, a “Manager”), and the Board shall have full and complete discretion to manage and control conduct the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary necessary, advisable or appropriate to accomplish the purposes of the Company as set forth hereinin Section 2.4. Notwithstanding the foregoingpreceding sentence, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f8.2(e) through the Board and to such agents of the Company as designated by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Fortis Minerals, LLC)

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Management Under Direction of the Board. Subject to the consent rights provided in Section 8.5, the The business and affairs of the Company shall be managed and controlled by a board of managers (the “Board,” and each member of the Board, a “Manager”), and, subject to the terms and conditions of this Agreement, the Board shall have full and complete discretion to manage and control the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary or appropriate to accomplish the purposes of the Company as set forth herein. Notwithstanding the foregoing, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f8.2(e) through the Board and to such agents and Officers of the Company as designated by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ashford Inc.)

Management Under Direction of the Board. Subject to the consent rights provided in Section 8.5, the The business and affairs of the Company shall be managed and controlled by a board of managers comprised of 2 members (the “Board,” and each member of the Board, a “Manager”), and the Board shall have full and complete discretion to manage and control the business and affairs of the Company, to make all decisions affecting the business and affairs of the Company and to take all such actions as it deems necessary or appropriate to accomplish the purposes of the Company as set forth herein. Notwithstanding the foregoing, no Manager in his or her individual capacity shall have the authority to manage the Company or approve matters relating to, or otherwise to bind the Company, such powers being reserved to all of the Managers acting pursuant to Section 8.2(f8.2(e) through the Board and to such agents of the Company as designated by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (RoyaltyTraders LLC)

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