Management Vested in Board. The business and affairs of the Company shall be managed by or under the authority of the Board, except as otherwise specifically required by the LLC Act or this Agreement. Except as otherwise provided in this Agreement, the Board shall have the sole and exclusive power to manage the Company’s business.
Appears in 4 contracts
Samples: Member Control Agreement (Dakota Plains Holdings, Inc.), Member Control Agreement (Dakota Plains Holdings, Inc.), Member Control Agreement (MCT Holding Corp)
Management Vested in Board. The management of the Company is vested in a Board of Directors. Unless otherwise determined by Board Approval, management of the Company, either in whole or in part, shall not be vested in a manager. Each member of the Board of Directors shall devote such time and effort to the management of the business and affairs of the Company as such Person shall be managed by or under the authority of the Board, except as otherwise specifically required by the LLC Act or this Agreement. Except as otherwise provided determine in this Agreement, the Board shall have the its sole and exclusive power to manage the Company’s businessabsolute discretion.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement
