Common use of Restrictions on Authority Clause in Contracts

Restrictions on Authority. Notwithstanding subsection 6.1 of this Article, only the Member may take the following actions or may direct the Manager to take the following actions: 6.3.1 the admission of an additional member other than the Member; and, 6.3.2 the initiation or proceeding under which the Company would become a Debtor under the United States Bankruptcy Code; and, 6.3.3 a change in the Purpose of the Company; and, 6.3.4 the approval of a merger, conversion, or elective application of a statute to the Company; and, 6.3.5 the taking of any action that would make it impossible to fulfill the purpose of the Company; and, 6.3.6 the amendment of this Agreement; and, 6.3.7 the sale, exchange or other Disposition of all, or substantially all of the Company’s Property other than in the ordinary course of the Company’s Business.

Restrictions on Authority. Notwithstanding subsection 6.1 of this Article, only the Member may take the following actions or may direct the Manager to take the following actions: 6.3.1 the admission of an additional member other than the Member; and,; 6.3.2 the initiation or proceeding under which the Company would become a Debtor under the United States Bankruptcy Code; and,; 6.3.3 a change in the Purpose of the Company; and,; 6.3.4 the approval of a merger, conversion, or elective application of a statute to the Company; and,; 6.3.5 the taking of any action that would make it impossible to fulfill the purpose of the Company; and,; 6.3.6 the amendment of this Agreement; and,; 6.3.7 the sale, exchange or other Disposition of all, or substantially all of the Company’s Property other than in the ordinary course of the Company’s Business.