Manner of Exercise of Board’s Authority. All responsibilities granted to the Board or under this Agreement shall be exercised by the Board as a body, and no Manager, acting alone and without prior Approval of the Board, shall have the authority to act on behalf of the Board. Except as provided in Section 7.4, the Company shall act by vote of a majority of the Managers at a meeting where a quorum, as defined in Section 7.2(h), is present. None of the following actions shall be taken by the Company except upon Approval of the Board of Managers, subject to the requirements of Section 7.5 hereof:
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Manner of Exercise of Board’s Authority. All responsibilities granted to the Board or under this Agreement shall be exercised by the Board as a body, and no Manager, acting alone and without prior Approval of the Board, shall have the authority to act on behalf of the Board. Except as provided in Section 7.4, the Company shall act by vote of a majority of the Managers at a meeting where a quorum, as defined in Section 7.2(h7.2(j), is present. None of the following actions shall be taken by the Company except upon Approval of the Board of Managers, subject to the requirements of Section 7.5 hereof:
Appears in 1 contract
Samples: Operating Agreement
