Rights and Duties of Members and Managers Sample Clauses

Rights and Duties of Members and Managers. Section 5.01 – Management: The business and affairs of a Series shall be vested in the Voting Members of that Series in accordance with this Agreement. The business and affairs of the Company shall be vested in the Voting Members of the Company. Notwithstanding the foregoing, the management of the Company or a Series may be vested in one or more Managers who shall be chosen in the manner provided for herein. arm exercises at home pdf free printable calendar A Manager need not be a Member. Only Voting Members or Managers associated with a Series shall direct, manage and control the business and affairs of such Series. All Managers shall have the right to vote on a per capita basis as to the management and conduct of the business of the Company or Series. Except as otherwise herein set forth, a majority of the Managers shall control. Section 5.02 – Certain Powers of Managers: (a) Without limiting the generality of Section 5.01, upon the affirmative vote of Managers associated with a Series, the Managers associated with such Series shall have power and authority, on behalf of such Series: (i) To acquire property from any Person as the Managers associated with such Series may determine, whether or not such Person is directly or indirectly affiliated or connected with any Member; (ii) To borrow money for such Series from banks, other lending institutions, any Voting Member (associated with such Series or otherwise), or affiliates of any Voting Member (associated with such Series or otherwise), on such terms as the Managers associated with such Series deem appropriate, and in connection therewith, to hypothecate, encumber and grant security interests in the assets of such Series to secure repayment of the borrowed sums. No debt shall be contracted or liability incurred by or on behalf of any Series except by the Managers associated with such Series, or, to the extent permitted under the Act and this Agreement, by agents or employees associated with such Series or the Managers associated with such Series expressly authorized by the Managers associated with such Series to contract such debt or incur such liability; (iii) To purchase liability and other insurance to protect the property and business or the Company or Series; (iv) To hold and own such real and personal properties in the name of the Company or such Series, as appropriate; (v) To invest funds of such Series in time deposits, short-term governmental obligations, commercial paper or other investments; (...
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Rights and Duties of Members and Managers. 18 Se c t i o n 5.01 - Ma n a g e m e n t : 18 Se c t i o n 5.02 - Ce r t a i n Po w e r s o f t h e Ma x x x x x : 18 Se c t i o n 5.03 - Li a b i l i t y f o r Ce r t a i n Ac t s : 19 Se c t i o n 5.04 - Ma n a g e r s Ha v e No Ex c l u s i v e Du t y t o Co m p a n y o r Xx x x x x : 20 Se c t i o n 5.05 - Ba n k Ac c o u n t s : 20 Se c t i o n 5.06 - In d e m n i t y o f t h e Ma x x x x x , Xx p l o y e e s a n d Ot h e r Ag e n t s : 20 Se c t i o n 5.07 - Co m p e n s a t i o n a n d Ex p e n s e s : 21 Se c t i o n 5.08 - Re s i g n a t i o n : 23 Se c t i o n 5.09 - Re m o v a l : 23 Se c t i o n 5.10 - v a c a n c i e s : 23
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Rights and Duties of Members and Managers. Section 5.01 - Management:
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Rights and Duties of Members and Managers 
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Related to Rights and Duties of Members and Managers

  • Duties of Members Each Member shall use his or her best efforts to promote the business of the LLC.

  • Rights and Duties The Shareholders shall have the following rights, powers, privileges, duties and liabilities:

  • Rights and Duties of Warrant Agent (1) In the exercise of the rights and duties prescribed or conferred by the terms of this Indenture, the Warrant Agent shall exercise that degree of care, diligence and skill that a reasonably prudent warrant agent would exercise in comparable circumstances. No provision of this Indenture shall be construed to relieve the Warrant Agent from liability for its own gross negligent action, wilful misconduct, bad faith or fraud under this Indenture.

  • Powers and Duties Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Credit Documents as are specifically delegated or granted to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Each Agent shall have only those duties and responsibilities that are expressly specified herein and the other Credit Documents. Each Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. No Agent shall have, by reason hereof or any of the other Credit Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Credit Documents, expressed or implied, is intended to or shall be so construed as to impose upon any Agent any obligations in respect hereof or any of the other Credit Documents except as expressly set forth herein or therein.

  • Rights and Responsibilities of the Parties 3.1. The Bank is liable to:

  • Duties of the Committee The Committee will be responsible for developing recommendations based on consensus (agreement and/or abstinence constitutes consensus) for the CAAT retirees' group insurance plans. The duties of the Committee are to:

  • Rights of Members Except as otherwise provided in this Agreement, (a) each Member shall look solely to the assets of the Company for the return of its Capital Contribution, (b) no Member shall have the right or power to demand or receive property other than cash from the Company and (c) except as provided in this Agreement, no Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations.

  • Duties of the Parties JHU is not a commercial organization. It is an institute of research and education. Therefore, JHU has no ability to evaluate the commercial potential of any PATENT RIGHTS or LICENSED PRODUCT or other license or rights granted in this Agreement. It is therefore incumbent upon Company to evaluate the rights and products in question, to examine the materials and information provided by JHU, and to determine for itself the validity of any PATENT RIGHTS, its freedom to operate, and the value of any LICENSED PRODUCTS or SERVICES or other rights granted.

  • Appointment and Duties The Trustees shall at all times employ a custodian or custodians, meeting the qualifications for custodians for portfolio securities of investment companies contained in the 1940 Act, as custodian with respect to the assets of the Trust. Any custodian shall have authority as agent of the Trust with respect to which it is acting as determined by the custodian agreement or agreements, but subject to such restrictions, limitations and other requirements, if any, as may be contained in the By-Laws of the Trust and the 1940 Act:

  • Duties of City CITY shall provide pertinent information regarding its requirements for the project. CITY shall examine documents submitted by CONSULTANT and shall render decisions pertaining thereto promptly, to avoid unreasonable delay in the progress of CONSULTANT'S work.

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