Restrictions on Managing Member’s Authority Sample Clauses

Restrictions on Managing Member’s Authority. A. The Managing Member may not take any action in contravention of an express prohibition or limitation of this Agreement, including, without limitation:
AutoNDA by SimpleDocs
Restrictions on Managing Member’s Authority. (a) The Managing Member may not, without written approval of the specific act by the Members, take any action in contravention of this Agreement, including, except as otherwise provided in this Agreement, (i) committing any act that would make it impossible to carry on the ordinary business of the Company; (ii) possessing Company property, or assigning any rights in specific Company property, for other than a Company purpose; (iii) admitting a Person as a Member; or (iv) amending this Agreement in any manner.
Restrictions on Managing Member’s Authority. (a) The Managing Member may not, in its capacity as the Managing Member, for or on behalf of the Company:
Restrictions on Managing Member’s Authority. The Managing Member may not take any action in contravention of an express prohibition or limitation of this Agreement without the written Consent of (i) all Members adversely affected or (ii) such lower percentage of the Interests held by Non-Managing Members as may be specifically provided for under a provision of this Agreement or the Act. The preceding sentence shall not apply to any limitation or prohibition in this Agreement that expressly authorizes the Managing Member to take action (either in its discretion or in specified circumstances) so long as the Managing Member acts within the scope of such authority.
Restrictions on Managing Member’s Authority. 5.3.1 Notwithstanding anything in this Agreement to the contrary, the Managing Member may not, without the consent or ratification of the specific act by all the Members, do any of the following:
Restrictions on Managing Member’s Authority. A. The Managing Member shall not take any action in contravention of the provisions of this Agreement.
Restrictions on Managing Member’s Authority. (a) Notwithstanding any other provision of this Agreement, the Managing Member shall not have authority to do any of the following without the prior written consent of PAG and, unless specified otherwise with respect to matters occurring prior to the GE Termination Date (or such later time as expressly set forth below), GECUSH:
AutoNDA by SimpleDocs
Restrictions on Managing Member’s Authority. (i) At all times during the Tax Protection Period applicable to the New Member, the Company shall not prepay (i.e., make payments in addition to scheduled interest and principal amortization), and shall not repay at maturity, the Debt set forth on Schedule 2(d) attached hereto (the “Existing Indebtedness”), unless all or a portion of the Existing Indebtedness is replaced or refinanced with other Debt. or other Debt is incurred, satisfying the requirements set forth below (“Replacement Indebtedness”). From and after or concurrent with the date the Company incurs Replacement Indebtedness, this Section 2(d) shall not restrict the Company’s ability to make payments with respect to the Existing Indebtedness, including, without limitation, repayment of all or any portion of the Existing Indebtedness at or prior to the stated maturity date thereof. Any Replacement Indebtedness shall, during the Tax Protection Period:
Restrictions on Managing Member’s Authority. (a) Notwithstanding any other provision of this Agreement, the Managing Member shall not have authority to do any of the following without the prior written consent of the Non-Managing Members that own at least ten percent (10%) of the Partnership Interests of the Partnership and, unless specified otherwise with respect to matters occurring prior to the GE Termination Date (or such later time as expressly set forth below), Memco:

Related to Restrictions on Managing Member’s Authority

Time is Money Join Law Insider Premium to draft better contracts faster.