No Control of the Company; Other Limitations. No Member (in its, his or her capacity as such) shall participate in the management or control of the Company’s business, transact any business for the Company or have the power to act for or bind the Company, all such powers being vested solely and exclusively in the Board; provided that an individual who is a Member may serve as a Director or Officer in a separate capacity. The Members shall be entitled to exercise only those rights specifically granted to them in this Agreement or to vote on such matters as may be submitted to them by the Board in its discretion or as is otherwise required by this Agreement or applicable law.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.)
No Control of the Company; Other Limitations. No Unless a Member (in itsis also the Manager, his or her capacity as such) a Member shall not participate in the management or control of the Company’s businessBusiness, transact any business for the Company or have the power to act for or bind the Company, all such powers being vested solely and exclusively in the Board; provided that an individual who is a Member may serve Manager. Except as a Director or Officer in a separate capacity. The Members shall be entitled to exercise only those rights specifically granted to them in this Agreement or to vote on such matters as may be submitted to them by the Board in its discretion or as is otherwise required by this Agreement the Act, a Member, as such, shall not be personally liable for any of the debts, liabilities, contracts or applicable lawany other obligations of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Dolan Media CO), Operating Agreement (Dolan Media CO)
No Control of the Company; Other Limitations. No Unless a Member (in itsis also a Director or an Officer, his or her capacity as such) a Member shall not participate in the management or control of the Company’s business, transact any business for the Company or have the power to act for or bind the Company, all such powers being vested solely and exclusively in the Board; provided that an individual who is a Member may serve as a Director or Officer in a separate capacity. The Members shall be entitled to exercise only those rights specifically granted to them in this Agreement or to vote on such matters as may be submitted to them by the Board in its discretion or as is otherwise required by this Agreement or applicable law.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Nord Anglia Education, Inc.), Transaction Agreement (Nord Anglia Education, Inc.)
No Control of the Company; Other Limitations. No Unless a Member (in itsis also a Director or an Officer, his or her capacity as such) a Member shall not participate in the management or control of the Company’s 's business, transact any business for the Company or have the power to act for or bind the Company, all such powers being vested solely and exclusively in the Board; provided that an individual who is a Member may serve as a Director or Officer in a separate capacity. The Members shall be entitled to exercise only those rights specifically granted to them in this Agreement or to vote on such matters as may be submitted to them by the Board in its discretion or as is otherwise required by this Agreement or applicable law.
Appears in 1 contract
Samples: Limited Liability Company Agreement
