Common use of Non-Managing Members Clause in Contracts

Non-Managing Members. No Non-Managing Member, in his, her or its capacity as such, has the authority or power to act for or on behalf of the Company or to take any action or do any thing that would be binding on the Company, or to make any expenditures or incur any indebtedness in the name or on behalf of the Company. The Non-Managing Members (or any class, designation or other subset of the Non-Managing Members) shall have only such rights of consent or approval as are expressly reserved for them by this Agreement or the Act.

Non-Managing Members. No Non-Managing Member, in his, her or its capacity as such, has the authority or power to act for or on behalf of the Company or to take any action or do any thing anything that would be binding on the Company, or to make any expenditures or incur any indebtedness in the name or on behalf of the Company. The Non-Managing Members (or any class, designation or other subset of the Non-Managing Members) shall have only such rights of consent or approval as are expressly reserved for them by this Agreement or the Act.