Relationship of the Members. The relationship between the Members shall be limited to the performance of the transactions contemplated by this Agreement and by the Formation Agreement and in accordance with their terms. Nothing herein shall be construed to authorize a Member to act as general agent for the other Member(s).
Relationship of the Members. The relationship of the --------------------------- Members shall be limited solely to the purpose and scope of the Company as expressed in this LLC Agreement and in the Ancillary Agreements. This LLC Agreement shall not constitute the appointment of either party to this LLC Agreement as the legal representative or agent of the other party. Neither party to this LLC Agreement shall have any right or authority to assume, create or incur any liability or any obligation of any kind, express or implied, against or in the name of or on behalf of the other party to this LLC Agreement. Except as may be specifically provided in this LLC Agreement or any Ancillary Agreement, neither the Company nor either party shall assume or be responsible for any liability or obligation of any nature of, or any liability or obligation that arises from any act or omission to act of, any other party however or whenever arising.
Relationship of the Members. (a) The relationship of the Members shall be limited solely to the purpose and scope of the Company as expressed in this Operating Agreement and the Additional Agreements. This Operating Agreement shall not constitute the appointment of any party to this Operating Agreement as the legal representative or agent of any other party to this Operating Agreement. No party to this Operating Agreement, by reason of such status, shall have any right or authority to assume, create or incur any liability or any obligation of any kind, express or implied, against or in the name of or on behalf of any other party to this Operating Agreement. Except as may be specifically provided in this Operating Agreement or any Additional Agreement, neither the Company nor any party to this Operating Agreement shall assume or be responsible for any liability or obligation of any nature of, or any liability or obligation that arises from any act or omission to act of, any other party to this Operating Agreement however or whenever arising.
(b) Nothing contained in this Operating Agreement (other than references to the binding nature of the Additional Agreements) shall be deemed to restrict or limit in any way the carrying on, directly or indirectly, of separate businesses or activities by any Member or its Affiliates, now or in the future, independently or with others, even if such businesses or activities are competitive with the Company (it being understood that the Additional Agreements may so restrict or limit such businesses or activities), and neither the Company nor the other Members shall, by virtue of this Operating Agreement, have any interest or rights in or to such other businesses or activities or any income, profits, liabilities or obligations with respect thereto or derived therefrom. No Member or any of its Affiliates or any of their respective officers, directors, employees or former employees shall have any obligation, or be liable, to the Company or any other Member pursuant to this Operating Agreement, any Additional Agreement or otherwise (i) for, or arising out of, the conduct described in this Section 2.6(b), (ii) solely by reason of such conduct, for breach of any fiduciary or similar duty to the Company or any Member or (iii) for exercising or failing to exercise its rights as a Member; except in each case for a breach of Sections 5.1, 10.1 or any other express provisions of this Operating Agreement or any Additional Agreement. In the event that a Member, any...
Relationship of the Members. Each of the Consortium Members is an independent contractor and nothing contained in this Agreement shall be construed to imply that there is any relationship between the Members of the Consortium, nor that there is a relationship of employer and employee. The Members are not engaging in a joint venture and accordingly none of the Members shall have any right or authority to act on behalf of the others nor to bind the others by contract or otherwise, unless expressly permitted by the terms of this Agreement.
Relationship of the Members. 7.1 Limitation on Authority of Members 10
7.2 Federal Tax Elections and Allocations
7.3 State Income Tax
7.4 Tax Returns
7.5 Other Business Opportunities
7.6 Waiver of Rights to Partition or Other Division of Assets 7.7 Bankruptcy of a Member or Parent
Relationship of the Members. 11 5.1 Transfer or Termination of Rights..................................... 11 5.2 Abandonment and Surrender of Properties............................... 11 5.3
Relationship of the Members. 3 5.1 Limitation on Authority of Members..................................... 3 5.2 Federal Tax Elections and Allocations.................................. 3 5.3 State Income Tax....................................................... 3 5.4
Relationship of the Members. 10
4.1 No State-Law Partnership 10
4.2 Federal Tax Elections and Allocations 10
4.3 State Income Tax 11 4.4 Tax Returns 11
Relationship of the Members. The Members are bound to each other by duties of good faith and reasonable efforts in achieving the goals of the AEOP COA. Joint and severable liability shall not attach to the Members.
Relationship of the Members. 4.1 Transfer or Termination of Rights.
