Common use of Powers With Respect to Management of the Company Clause in Contracts

Powers With Respect to Management of the Company. (a) Subject to the limitations set forth in Section 2.6 and in Section 5.3 or expressly provided elsewhere in this LLC Agreement, the Managing Member shall have all necessary powers to manage and carry out the management of the Company and the power to sign contracts and obligations on behalf of the Company, including without limitation the power to exercise on behalf and in the name of the Company all of the powers of a manager described in the Act. The Managing Member, in its capacity as a manager of the Company, has the authority to bind the Company. Notwithstanding any other provision of this LLC Agreement, the Company, and the Managing Member on behalf of the Company, may execute, enter into and perform such agreements as are necessary to carry out the purposes of the Company without any further act, vote or approval. (b) Any officers appointed by the Managing Member, to the extent of the powers vested in them by action of the Managing Member not inconsistent with this LLC Agreement, are agents of the Company for the purpose of the Company's business and, subject to Section 2.6(b), the actions of the officers taken in accordance with such powers shall bind the Company. (c) To the extent necessary to comply with applicable law the Managing Member shall, or if, in the reasonable judgment of the Managing Member, it is deemed by it to be advisable to do so, the Managing Member may, appoint a “chief executive officer” of the Company, which officer shall, subject to the control of the Managing Member, have general supervision, direction and control of the business affairs of the Company.