No Approval Required for Above Powers Sample Clauses
The "No Approval Required for Above Powers" clause establishes that the powers or authorities previously listed in the agreement can be exercised without needing further consent or approval from other parties. In practice, this means that the party granted these powers can act independently within the scope of those specified rights, such as making decisions, entering into contracts, or taking certain actions, without seeking additional permissions. This clause streamlines decision-making and operations by removing procedural barriers, ensuring efficiency and reducing delays that could arise from requiring repeated approvals.
No Approval Required for Above Powers. Except as expressly provided in this Agreement (including, without limitation, the last sentence of this Section 7.1(b)), each of the Members agrees that the Managing Member is authorized to execute, deliver and perform the above-mentioned agreements and transactions on behalf of the Company without any further act, approval or vote of the Members, notwithstanding any other provision of this Agreement, the Act or any applicable law, rule or regulation to the fullest extent permitted under the Act or other applicable law, rule or regulation. The execution, delivery or performance by the Managing Member or the Company of any agreement authorized or permitted under this Agreement shall not constitute a breach by the Managing Member of any duty that the Managing Member may owe the Company or the Non-Managing Members or any other Persons under this Agreement or of any duty stated or implied by law or equity.
No Approval Required for Above Powers. Each of the Limited Partners agrees that the General Partner is authorized to execute, deliver and perform the above-mentioned agreements and transactions on behalf of the Partnership without any further act, approval or vote of the Partners, notwithstanding any other provision of this Agreement (except as otherwise specifically provided in paragraph (a)(3) of Section 7.1), the Act or any applicable law, rule or regulation. The execution, delivery or performance by the General Partner or the Partnership of any agreement authorized or permitted under this Agreement shall not constitute a breach by the General Partner of any duty that the General Partner may owe the Partnership or the Limited Partners or any other Persons under this Agreement or of any duty stated or implied by law or equity.
No Approval Required for Above Powers. Subject to any other restriction set forth in this Agreement, each of the Limited Partners agrees that the General Partner is authorized to execute, deliver and perform the above-mentioned agreements and transactions on behalf of the Partnership without any further act, approval or vote of the Partners, notwithstanding any other provision of this Agreement (except where the Consent of the Limited Partners or the consent of the Series A Preferred Partners or of any other class or series of Partnership Interests is expressly required herein), the Act or any applicable law, rule or regulation. The execution, delivery or performance by the General Partner or the Partnership of any agreement authorized or permitted under this Agreement shall not constitute a breach by the General Partner of any duty that the General Partner may owe the Partnership or the Limited Partners or any other Persons under this Agreement or of any duty stated or implied by law or equity.
No Approval Required for Above Powers. Except as expressly ------------------------------------- provided in this Agreement (including, without limitation, the last sentence of this Section 7.1(b)), each of the Limited Partners agrees that --------------- the General Partner is authorized to execute, deliver and perform the above-mentioned agreements and transactions on behalf of the Partnership without any further act, approval or vote of the Partners, notwithstanding any other provision of this Agreement, the Act or any applicable law, rule or regulation. The execution, delivery or performance by the General Partner or the Partnership of any agreement authorized or permitted under this Agreement shall not constitute a breach by the General Partner of any duty that the General Partner may owe the Partnership or the Limited Partners or any other Persons under this Agreement or of any duty stated or implied by law or equity. Notwithstanding the foregoing, the General Partner agrees that it will not take any of the following actions at any time prior to the first anniversary of the Effective Date without the Consent of Limited Partners holding a majority of the outstanding Limited Partnership Interests: (i) a merger, consolidation or share exchange of the General Partner and requiring the approval of the General Partner's shareholders or any merger, consolidation or partnership interest exchange of the Partnership; (ii) a sale, lease, transfer or other disposition of all of substantially all of the General Partner's assets requiring the approval of the General Partner's shareholders, a sale, lease, transfer or other disposition of all or substantially all of the Partnership's assets, or any election to dissolve the General Partner requiring the approval of the General Partner's shareholders; or (iii) an amendment to the Declaration of Trust requiring the approval of the General Partner's shareholders.
No Approval Required for Above Powers. The applicable Managing Member (or the Managing Members, jointly, as the case may be) is authorized to execute, deliver and perform the above-mentioned documents and transactions on behalf of the Company or either Subsidiary without any further act, approval or vote of the Members. Notwithstanding the foregoing, if a Managing Member is authorized to act alone to the extent practical, it shall give at least five (5) Business Days prior notice ( which shall be reduced to two (2) Business Days prior notice until Completion of the Project) to the other Managing Member of any actions it intends to take on behalf of the Company or either Subsidiary which might have a material impact on the business, Company Assets, a Subsidiary’s Assets, or obligations of the Company or either Subsidiary. In any event, the Members will cooperate in all reasonable respects with the Managing Members to facilitate the exercise of the powers of management and control by the Managing Members.