Common use of Powers of Manager Clause in Contracts

Powers of Manager. The Manager shall, subject in all instances to any express limitations contained in this Section 14, have all of the rights and powers which may be possessed by a “Manager” under the Act and such rights and powers as are necessary, convenient or incidental to or for the furtherance of the purposes described herein. The Manager, acting alone, has the authority to bind the Company within the meaning of Section 18-402 of the Act. Without limiting the foregoing, the Manager shall have the power to enter into, execute and deliver agreements, notes, deeds, deeds of trust, security agreements, assignments, pledges, bills of sale, leases, ground leases, documents, instruments, certificates, consents, estoppel certificates, subordination agreements, contracts and escrow arrangements, and to give amendments, receipts, modifications, releases and terminations thereof, on behalf of the Company.