Common use of Organization and Composition Clause in Contracts

Organization and Composition. The ParticipantsMembers hereby establish a Management Committee to determine overall policies, objectives, procedures, methods and actions under this Agreement. The Management Committee shall consist of member(s) appointed by XCO and member(s) appointed by XXX. Each ParticipantMember may appoint one or more alternates to act in the absence of a regular member. Any alternate so acting shall be deemed a member of the Management Committee. Appointments shall be made or changed by notice to the other ParticipantMember. Members of the Management Committee shall not be considered managers under the Act in such capacity, but derive all of their right, power and authority from the Members. No Member or member of the Management Committee shall have the power to bind the Company. All documents and instruments executed on behalf of the Company shall be signed by the Manager or by an officer or employee to whom the Manager has delegated the general or specific authority.

Organization and Composition. The ParticipantsMembers Members hereby establish a Management Committee to determine overall policies, objectives, procedures, methods and actions under this Agreement. The Management Committee shall consist of member(s) appointed by XCO and member(s) appointed by XXXYCO. Each ParticipantMember Member may appoint one or more alternates to act in the absence of a regular member. Any alternate so acting shall be deemed a member of the Management Committee. Appointments shall be made or changed by notice to the other ParticipantMemberMember. Members of the Management Committee shall not be considered managers under the Act in such capacity, but derive all of their right, power and authority from the Members. No Member or member of the Management Committee shall have the power to bind the Company. All documents and instruments executed on behalf of the Company shall be signed by the Manager or by an officer or employee to whom the Manager has delegated the general or specific authority.

Organization and Composition. The ParticipantsMembers Members hereby establish a Management Committee to determine overall policies, objectives, procedures, methods and actions under this Agreement. The Management Committee shall consist of member(s) appointed by XCO and member(s) appointed by XXX. Each ParticipantMember Member may appoint one or more alternates to act in the absence of a regular member. Any alternate so acting shall be deemed a member of the Management Committee. Appointments shall be made or changed by notice to the other ParticipantMemberMember. Members of the Management Committee shall not be considered managers under the Act in such capacity, but derive all of their right, power and authority from the Members. No Member or member of the Management Committee shall have the power to bind the Company. All documents and instruments executed on behalf of the Company shall be signed by the Manager or by an officer or employee to whom the Manager has delegated the general or specific authority.

Organization and Composition. The ParticipantsMembers hereby establish a Management Committee to determine overall policies, objectives, procedures, methods and actions under this Agreement. The Management Committee shall consist of member(s) appointed by XCO and member(s) appointed by XXXYCO. Each ParticipantMember may appoint one or more alternates to act in the absence of a regular member. Any alternate so acting shall be deemed a member of the Management Committee. Appointments shall be made or changed by notice to the other ParticipantMember. Members of the Management Committee shall not be considered managers under the Act in such capacity, but derive all of their right, power and authority from the Members. No Member or member of the Management Committee shall have the power to bind the Company. All documents and instruments executed on behalf of the Company shall be signed by the Manager or by an officer or employee to whom the Manager has delegated the general or specific authority.