Powers and Authority of the Participants. (a) Subject to the restrictions otherwise set forth in this Agreement, the affairs of the Issuer shall be managed and supervised by the Board. Serving at the Board’s request, the Managers shall have full and exclusive authority to conduct the daily operations of the Issuer subject to this Agreement. (b) Except as otherwise provided in this Agreement, the Participants shall have no power or authority to bind the Issuer unless the Participant(s) has (have) been authorized in writing by CFL to act as an agent of the Issuer.
Appears in 2 contracts
Samples: Equity Loan Participation Agreement, Loan Participation Agreement
Powers and Authority of the Participants.
(a) Subject to the restrictions otherwise set forth in this Agreement, the affairs of the Issuer shall be managed and supervised by the Board. Serving at the Board’s request, the Managers shall have full and exclusive authority to conduct the daily operations of the Issuer subject to this Agreement.
(b) Except as otherwise provided in this Agreement, the Participants shall have no power or authority to bind the Issuer unless the Participant(s) has (have) been authorized in writing by CFL to act as an agent of the Issuer.
Appears in 1 contract
Samples: Loan Participation Agreement
Powers and Authority of the Participants.
(a) Subject to the restrictions otherwise set forth in this Agreement, the affairs of the Issuer shall be managed and supervised by the Board. Serving at the Board’s request, the Managers shall have full and exclusive authority to conduct the daily operations of the Issuer subject to this Agreement.
(b) Except as otherwise provided in this Agreement, the Participants shall have no power or authority to bind the Issuer unless the Participant(s) has (have) been authorized in writing by CFL to act as an agent of the Issuer.Issuer.
Appears in 1 contract
Samples: Loan Participation Agreement
Powers and Authority of the Participants.
(a) Subject to the restrictions otherwise set forth in this Agreement, the affairs of the Issuer Lender shall be managed and supervised by the Board. Serving at the Board’s request, the Managers shall have full and exclusive authority to conduct the daily operations of the Issuer Lender subject to this Agreement.
(b) Except as otherwise provided in this Agreement, the Participants shall have no power or authority to bind the Issuer Lender unless the Participant(s) has (have) been authorized in writing by CFL to act as an agent of the IssuerLender.
Appears in 1 contract
Samples: Participation Loan Agreement
