Managing Members. The business and affairs of the Company shall be managed by the Members acting through their respective representatives on the Board of Managers ("Representatives"). The President and the Representatives shall be deemed "managers" of the Company within the meaning of the Delaware Act. Except for such matters as may be delegated to a Member from time to time by the Board of Managers pursuant to a vote in accordance with Section 8.07(b), and subject to the provisions of Sections 6.07 and 6.08, no Member shall act unilaterally on behalf of the Company or any of its subsidiaries without the approval of the other Member and no Member shall have the power unilaterally to bind the Company or any of its subsidiaries.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Ashland Inc), Limited Liability Company Agreement (Usx Corp), Limited Liability Company Agreement (Ashland Inc)
Managing Members. The business and affairs of the Company shall be managed by the Members acting through their respective representatives on the Board of Managers ("“Representatives"”). The President and the Representatives shall be deemed "“managers" ” of the Company within the meaning of the Delaware Act. Except for such matters as may be delegated to a Member from time to time by the Board of Managers pursuant to a vote in accordance with Section 8.07(b), and subject to the provisions of Sections 6.07 and 6.08, no Member shall act unilaterally on behalf of the Company or any of its subsidiaries without the approval of the other Member and no Member shall have the power unilaterally to bind the Company or any of its subsidiaries.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Marathon Oil Corp), Limited Liability Company Agreement (Marathon Oil Corp), Limited Liability Company Agreement (Ashland Inc)
Managing Members. The business and affairs of the ----------------- Company shall be managed by the Members acting through their respective representatives on the Board of Managers ("Representatives"). The President and --------------- the Representatives shall be deemed "managers" of the Company within the meaning of the Delaware Act. Except for such matters as may be delegated to a Member from time to time by the Board of Managers pursuant to a vote in accordance with Section 8.07(b), and subject to the provisions of Sections 6.07 and 6.08, no Member shall act unilaterally on behalf of the Company or any of its subsidiaries without the approval of the other Member and no Member shall have the power unilaterally to bind the Company or any of its subsidiaries.
Appears in 1 contract
