Common use of Rights or Powers Clause in Contracts

Rights or Powers. Other than the rights and powers expressly granted to the Managing Member pursuant to Section 5 and the rights expressly granted to the Members pursuant to Section 5.10, the Members, in their capacities as members of the Company, hereby agree not to exercise any right or power to take part in the management or control of the Company or its business and affairs and shall not have any right or power to act for or bind the Company in any way. Without limiting the generality of the foregoing, the Members, in such capacities, have all of the rights and powers specifically set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the Act.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (General Mills Inc), Limited Liability Company Agreement (General Mills Inc), Limited Liability Company Agreement (General Mills Inc)

AutoNDA by SimpleDocs

Rights or Powers. Other than the rights and powers expressly granted to the Managing Member pursuant to Section 5 and the rights expressly granted to the Members pursuant to Section 5.105, the Members, in their capacities as members of the Company, hereby agree not to exercise any right or power to take part in the management or control of the Company or its business and affairs and shall not have any right or power to act for or bind the Company in any way. Without limiting the generality of the foregoing, the Members, in such capacities, have all of the rights and powers specifically set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the Act.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (At&t Inc.), Limited Liability Company Agreement (At&t Inc.)

AutoNDA by SimpleDocs

Rights or Powers. Other than the rights and powers expressly granted to the The Non-Managing Member pursuant to Section 5 and the rights expressly granted to the Members pursuant to Section 5.10, the Members, in their capacities as members of the Company, hereby agree not to exercise any right or power to take part in the management or control of the Company or its business and affairs and shall not have any right or power to act for or bind the Company in any way. Without limiting the generality of Notwithstanding the foregoing, the Members, in such capacities, Non-Managing Members have all of the rights and powers specifically set forth in this Agreement andAgreement. To the fullest extent permitted by law, the Members hereby waive any and all rights and powers to take part in (or to consent to) the extent not inconsistent with management or control of the Company or its business and affairs, except those rights and powers reserved to them by the express provisions of Section 5.2(c) of this Agreement, in the Act.

Appears in 2 contracts

Samples: Operating Agreement (Atlas Pipeline Partners Lp), Operating Agreement (Atlas Pipeline Partners Lp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!