Common use of Members Are Not Agents Clause in Contracts

Members Are Not Agents. Pursuant to Section 4.1 and the Articles, the management of the Company is vested in the Manager. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company or make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by law.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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Members Are Not Agents. Pursuant to the Certificate and Section 4.1 and the Articles3.1, the management of the Company is vested in the Manager. No Member, acting solely in the capacity of a MemberMember or holder of Units, is an agent of the Company nor can any Member in such capacity bind bind, or execute any instrument on behalf of the Company or make any expenditure on behalf of of, the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by law.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Javo Beverage Co Inc)

Members Are Not Agents. Pursuant to Section 4.1 7.1 and the Articles, the management of the Company is vested in the ManagerManagers. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company or make render the Company liable for any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by lawpurpose.

Appears in 1 contract

Samples: Kaiser Ventures Inc

Members Are Not Agents. Pursuant to Section 4.1 Article V and the Articles, the ----------------------- management of the Company is vested in the ManagerBoard of Directors. No Member, acting solely in the capacity of as a Member, is an agent of the Company nor can any Member and no Member, acting solely in such the capacity as a Member, is authorized to bind or execute any instrument on behalf of the Company or make render the Company liable for any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by lawpurpose.

Appears in 1 contract

Samples: Operating Agreement (Performance Capital Management LLC)

Members Are Not Agents. Pursuant to Section 4.1 and the Articles3.1, the management of the Company is vested in the Manager. No Member, acting solely in the capacity of a Membersuch capacity, is an agent of the Company Company, nor can any Member in such capacity bind or nor execute any instrument on behalf of the Company. Any Member who takes any action or binds the Company or make in violation of this Section 2.6 shall be solely responsible for any expenditure on behalf loss and expense incurred by the Company as a result of the Company. The Members hereby consent unauthorized action and shall indemnify and hold the Company harmless with respect to the exercise by the Manager of the powers conferred on it by lawloss or expense.

Appears in 1 contract

Samples: Operating Agreement (Thunder Bridge Acquisition II, LTD)

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Members Are Not Agents. Pursuant to In accordance with Section 4.1 and the Articles4.1, the management of the Company is vested in the ManagerManagers. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or nor execute any instrument on behalf of the Company. Any Member who takes any action or binds the Company or make in violation of this Section 3.4 shall be solely responsible for any expenditure on behalf loss and expense incurred by the Company as a result of the Company. The unauthorized action and shall indemnify and hold the Company and the other Members hereby consent harmless with respect to the exercise by the Manager of the powers conferred on it by lawloss or expense.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Central Credit, LLC)

Members Are Not Agents. Pursuant to Section 4.1 5.1 and the Articles, the management of the Company is vested in the Manager. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company or make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by law.

Appears in 1 contract

Samples: Operating Agreement (American Vantage Companies)

Members Are Not Agents. Pursuant to Section 4.1 5.01 and the Articlesarticles, the management of the Company is vested in the ManagerManagers. No Member, acting solely in the capacity of as a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company or make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by law.

Appears in 1 contract

Samples: Security Agreement

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