Common use of Members Are Not Agents Clause in Contracts

Members Are Not Agents. Pursuant to Section 5.1, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 4 contracts

Samples: Operating Agreement (Freedom Securities Corp /De/), Operating Agreement (Freedom Securities Corp /De/), Operating Agreement (Freedom Securiteis Corp /De/)

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Members Are Not Agents. Pursuant to Section 5.1, the management of the Company is vested in the ManagerBoard of Managers. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard of Managers, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 3 contracts

Samples: Operating Agreement (ALST Casino Holdco, LLC), Operating Agreement (ALST Casino Holdco, LLC), Limited Liability Company Agreement (Euroseas Ltd.)

Members Are Not Agents. Pursuant to Section 5.14.1 of this Agreement, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by the Act, this Agreement or the Articles and except as expressly required by the Actof Organization. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Members Are Not Agents. Pursuant to Section 5.1Article 5, the management of the Company is vested in the ManagerBoard. The Members shall have no power to manage or participate in the management of the Company, or bind or act on behalf of the Company in any way, except as expressly authorized by the Act, this Agreement or the Articles and except as expressly required by the ActCertificate. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 2 contracts

Samples: Company Operating Agreement (SRAM International Corp), Master Transaction Agreement (SRAM International Corp)

Members Are Not Agents. Pursuant to Section 5.15.1 of this Agreement, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized required by the Act, this Agreement or the Articles and except as expressly required by the ActCertificate. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement

Members Are Not Agents. Pursuant to Section 5.15.1 of this Agreement, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except Certificate or as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Limited Liability Company Agreement (TNP Strategic Retail Trust, Inc.)

Members Are Not Agents. Pursuant to Section 5.1, the management of the Company is vested solely in the ManagerBoard of Managers. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard of Managers, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Adoption Agreement (Huntsman Advanced Materials (UK) LTD)

Members Are Not Agents. Pursuant to Section 5.15.1 and the Articles, the management of the Company is vested in the ManagerBoard of Managers. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard of Managers, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Operating Agreement

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Members Are Not Agents. Pursuant to Section 5.13.1 and the Certificate, the management of the Company is vested in the ManagerManagers. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company Company, nor does any either Member, unless expressly and duly authorized in writing to do so by the ManagerManagers, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Day Runner Inc)

Members Are Not Agents. Pursuant to Section 5.15.1 and the Certificate, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized to do so by this Agreement Agreement, or by the Articles and Manager, or except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Operating Agreement (Panera Bread Co)

Members Are Not Agents. Pursuant to Section 5.14.1 and the Certificate of Formation, the management of the Company is vested solely in the ManagerBoard. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the ActCertificate of Formation. No Member, acting solely in the capacity of a Member, is shall be or act as an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf behalf, or to render it liable for any purpose.

Appears in 1 contract

Samples: Operating Agreement (Global Partner Acquisition Corp.)

Members Are Not Agents. Pursuant to Section 5.1SECTION 5.1 hereof and the Articles, the management of the Company is vested in the ManagerBoard of Managers. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the ManagerBoard of Managers, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.

Appears in 1 contract

Samples: Operating Agreement (Premier Laser Systems Inc)

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