Restriction on Members’ Authority. No Member is an agent of the Company solely by virtue of being a Member, and no Member has the authority to act for or bind the Company or any other Member solely by virtue of being a Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (Minn Shares Inc)
Restriction on Members’ Authority. No Member is an agent of the Company solely by virtue of being a Member, and no Member except those members that are Managers as expressly provided herein, has the authority to act for or bind the Company or any other Member Company, in each case, solely by virtue of being a Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Vince Holding Corp.)
Restriction on Members’ Authority. No Member is an agent of the Company solely by virtue of being a Member, and no Member Member, except those members that are Managers, has the authority to act for or bind the Company or any other Member solely by virtue of being a Member.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (XCel Brands, Inc.)
