Restrictions on Powers. Except as otherwise provided herein or by the Mandatory Provisions of the Act, a Member shall not have the authority or power to act on behalf of, or to bind, the Company, or any other Member, and a Member shall not have the right or power to take any action which would change the Company to a general partnership, change the limited liability of a Member, or affect the status of the Company for federal income tax purposes.
Restrictions on Powers. Notwithstanding any provision of Section 2.01(b) or Section 2.01(c), the Partnership will not:
(i) lend any Assets of the Partnership to or guarantee any obligations of the General Partner, the Investment Adviser/Manager, or any director, officer, member, manager, partner, stockholder, employee or Affiliate of the General Partner or the Investment Adviser/Manager (excluding any Portfolio Company);
(ii) allow any Assets of the Partnership to become commingled with the assets of the General Partner or the Investment Adviser/Manager, or any director, officer, member, manager, partner, stockholder, employee or Affiliate of the General Partner or the Investment Adviser/Manager;
(iii) if the Partnership is an SBIC, invest at any time in Portfolio Securities if at the time of such investment the aggregate cost of (A) the investments of the Partnership in a Portfolio Company and its Affiliates plus (B) such additional investment would exceed: the greater of (x) twenty percent (20%) of the Partnership’s Regulatory Capital or (y) such other amount as the SBA shall permit in order to protect the Partnership’s investment;
(iv) if the Partnership is an SBIC, invest at any time in Portfolio Securities issued by any company in which an SBIC is prohibited from investing by the SBIC Act;
(v) borrow, guarantee the obligations of others or otherwise incur indebtedness if any such borrowings, guarantees or other indebtedness shall create Limited Partner liability, except as otherwise set forth in the SBIC Act or in an agreement with SBA in connection with issuance of Leverage; or
(vi) if the Partnership is an SBIC, have outstanding any debt in an amount in excess of the maximum amount of debt permitted under the SBIC Act.
Restrictions on Powers. 7.1 Pursuant to and to the extent required by Government Code Section 6509, as amended, the Agency shall be restricted in the exercise of its powers and shall exercise its powers in the same manner as the Town of Los Gatos is restricted in its exercise of similar powers; provided that, if the Town of Los Gatos shall cease to be a Member, then the Agency shall be restricted in the exercise of its power in the same manner as another Member agreed to by the majority of the Board of Directors. Unless expressly provided for, the Agency does not, by virtue of this Section or this Agreement, subject itself to the internal policies or ordinances of any Member.
7.2 The Agency shall not have the power of eminent domain.
7.3 The Agency shall not have the power of taxation. The Agency may not impose taxes but may receive the proceeds of taxes imposed by other entities or public funds from other entities.
7.4 The Agency shall not have the power to acquire, purchase, hold or dispose of real property.
7.5 The Agency shall not have the power to hire employees.
7.6 The Agency shall not have the power to issue debt.
Restrictions on Powers. Notwithstanding the provisions of this Article, none of the powers enumerated herein nor any power accorded to a Trustee generally pursuant to law shall be construed to enable the Settlor, the Trustee, or any other person (a) to purchase, exchange or otherwise deal with or dispose of the principal or income of this trust for less than an adequate or full consideration in money or money's worth, or (b) to borrow the principal or income of this trust, directly or indirectly, without adequate interest or security. No person, other than the Trustee, shall have or exercise the power (a) to vote or direct the voting of any stock or securities of this trust, (b) to control the investment of property of this trust either by directing investments or reinvestments or (c) to reacquire or exchange any property of this trust by substituting other property of any equivalent value.
Restrictions on Powers. The following specific restrictions on the powers and functions of the AUTHORITY shall apply and be observed by the AUTHORITY:
A. The AUTHORITY shall have no taxing powers.
B. The AUTHORITY shall not interfere in the internal affairs of a member entity.
C. The AUTHORITY shall have no veto power over grant applications submitted to State or federal agencies by a member entity.
D. The AUTHORITY shall not operate any form of lending program, including, but not limited to, revolving loan programs, intermediate relending programs, or any other program which requires the AUTHORITY to borrow or otherwise obligate itself for the purpose of directly financing community businesses.
E. The AUTHORITY shall not support or pursue activities involving the offshore generation of wind energy.
Restrictions on Powers. Pursuant to Section 6509 of the Act, the above powers shall be subject to the restrictions upon the manner of exercising the power of one of the Members, which is designated as County of Los Angeles.
Restrictions on Powers. Said powers shall be exercised pursuant to the terms hereof, subject to the restrictions, if applicable to BETARMA, upon the manner of exercising the powers set forth in the Local Health Care District Law (Division 23 of the Health & Safety Code).
Restrictions on Powers. Notwithstanding any powers granted to the Trustee pursuant to this Trust Agreement or by applicable law, the Trustee shall not have any powers that could give this Trust the objective of carrying on a business, and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code.
Restrictions on Powers. The board may delegate to the executive committee any powers of the board, except making an apportionment or distribution of earnings, election of officers, filling vacancies on the board of directors, adopting amendments to the by-laws, hiring or terminating the general manager of the Co-operative or any other act or thing the Act stipulates the board cannot delegate.
Restrictions on Powers. Except as set forth in this Section 2.02(a), the Partnership may make investments in Portfolio Companies only during the Investment Period. Upon the termination of the Investment Period, the Partnership shall be prohibited from making investments in any company that was not a Portfolio Company (including successors thereto by sale, merger or operation of law) at the termination date of the Investment Period; provided that nothing herein shall prohibit the Partnership or the General Partner from calling Capital Contributions or using other available funds to: (i) complete investments (including executing or making payment on guarantees) that were in process or committed to at the termination of the Investment Period; (ii) make investments (including executing or making payment on guarantees) to preserve, protect or enhance the value of existing investments; (iii) pay costs, expenses and liabilities of the Partnership, including Leverage, Management Compensation, expenses and indemnification obligations; and (iv) make payments required by SBA or otherwise required by the SBIC Act. Notwithstanding any provision of Section 2.01, the Partnership will not [specify any restrictions on the powers that the Partnership may exercise]27 27 This section can be used to specify restrictions on actions of the Partnership, for example, with respect to lending, borrowing other than Leverage, percentage of capital in any one portfolio company (and affiliates),
