Common use of Rights and Duties of LLC Managers Clause in Contracts

Rights and Duties of LLC Managers. 7.1 General Authority and Powers of LLC Managers. Except as provided in Section 7.7, the LLC Managers shall have the exclusive right and power to manage, operate and control the general business and operations of the Company which is not attributable to the business of a particular Series, provided that the separate Series Managers of each Series, as designated in a Separate Series Agreement for such Series, shall have the right and power to manage, operate and control the business of such Series of the Company and to do all things and make all decisions necessary or appropriate to carry on the business and affairs of the Series of the Company. All decisions involving the administration of the Company as a whole, and not attributable to the business of a particular Series, shall require the approval of seventy-five percent (75%) of the LLC Managers. The authority of the LLC Managers shall include, but shall not be limited to, the following powers, over the business and operations of the Company which are not attributable to one or more particular Series:

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)

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