Nature of Rights and Obligations. Except as expressly provided in this Agreement, the Member, as a Member, shall not participate in the management or control of the Company’s business nor shall it transact any Business for the Company. The Member shall indemnify the Company from and against any cost or expense incurred by the Company as a result of any unauthorized action by the Member.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Rhino Equity LLC), Limited Liability Company Agreement (Tarantula Ventures LLC), LLC Operating Agreement (Tarantula Ventures LLC)
Nature of Rights and Obligations. Except as expressly provided in this Agreement, none of the MemberMembers of the Company, as a Member, shall not participate in the management or control of the Company’s business nor shall it transact any Business for the Company. The Member Each of the Members shall indemnify the Company from and against any cost or expense incurred by the Company as a result of any unauthorized action by the such Member.
Appears in 3 contracts
Samples: LLC Operating Agreement (Tarantula Ventures LLC), LLC Operating Agreement (Tarantula Ventures LLC), LLC Operating Agreement (Tarantula Ventures LLC)
