Common use of Nature of Special Power Clause in Contracts

Nature of Special Power. The power of attorney granted herein: (a) shall be deemed to be coupled with an interest, shall be irrevocable and shall survive the death, incompetency, or legal disability of a Member; (b) may be exercised only by the Manager (and such Manager’s successors and assigns), for each Member, or any or all of them, by listing all, or any, of the Members required to execute any such instrument and executing such instrument as attorney-in-fact for all, or any one, of such Members; and (c) shall be binding upon any transferee of a membership interest of a Member hereunder, or any portion thereof, except that where such transferee is qualified as a Substitute Member under this Agreement, the power of attorney shall survive the delivery of such Units for the sole purpose of enabling the Manager to execute, acknowledge and file any instrument on behalf of the transferor of the Units necessary to effect such substitution.

Nature of Special Power. The power of attorney granted herein: (a) shall be deemed to be coupled with an interest, shall be irrevocable and shall survive the death, incompetency, or legal disability of a MemberPartner; (b) may be exercised only by the Manager General Partner (and such Manager’s his successors and assigns), for each MemberPartner, or any or all of them, by listing all, or any, of the Members Partners required to execute any such instrument and executing such instrument as attorney-in-fact for all, or any one, of such MembersPartners; and (c) shall be binding upon any transferee of a membership interest of a Member Partner hereunder, or any portion thereof, except that where such transferee is qualified as a Substitute Member Partner under this Agreement, the power of attorney shall survive the delivery of such Units for the sole purpose of enabling the Manager General Partner to execute, acknowledge and file any instrument on behalf of the transferor of the Units necessary to effect such substitution.

Nature of Special Power. The power of attorney granted herein: (ai) shall be deemed to be coupled with an interest, shall be irrevocable and shall survive the death, incompetency, or legal disability of a Member; (bii) may be exercised only by the Manager (and such Manager’s successors and assigns), for each Member, or any or all of them, by listing all, or any, of the Members required to execute any such instrument and executing such instrument as attorney-in-fact for all, or any one, of such Members; and (ciii) shall be binding upon any transferee of a membership interest of a Member hereunder, or any portion thereof, except that where such transferee is qualified as a Substitute Member under this Agreement, the power of attorney shall survive the delivery of such Units for the sole purpose of enabling the Manager Manager, to execute, acknowledge acknowledge, and file any instrument on behalf of the transferor of the Units necessary to effect such substitution.