Common use of Restrictions on Stockholders Clause in Contracts

Restrictions on Stockholders. Except as expressly provided otherwise in this Agreement, Stockholders who are not also members of the Board of Directors shall not be entitled to participate in the management or control of the Company, except as officers if so appointed, nor shall any such Stockholder hold himself out as having such authority or as being a member of the Board of Directors. Unless authorized to do so by the Board of Directors, no attorney-in-fact, employee or other agent of the Company shall have any power or authority to bind the Company in any way, to pledge its credit or to render it liable for any purpose. No Stockholder shall have any power or authority to bind the Company unless the Stockholder has been authorized by the Board of Directors to act as an agent of the Company in accordance with the previous sentence.

Restrictions on Stockholders. Except as expressly provided otherwise in this Agreement, Stockholders who are any Stockholder not also members of designated the Board of Directors Managing Member shall not be entitled to participate in the management or control of the Company, except as officers if so appointed, nor shall any such Stockholder hold himself out as having such authority or as being a member the Managing Member or any other person holding authority on behalf of the Board of DirectorsCompany. Unless authorized to do so by the Board of DirectorsManaging Member, no attorney-in-fact, employee or other agent of the Company shall have any power or authority to bind the Company in any way, to pledge its credit or to render it liable for any purpose. No Stockholder shall have any power or authority to bind the Company unless the Stockholder has been authorized by the Board of Directors Managing Member to act as an agent of the Company in accordance with the previous sentence.