Members Are Not Agents Sample Clauses
The "Members Are Not Agents" clause establishes that individual members of an organization or company do not have the authority to act on behalf of the entity or bind it to agreements unless specifically authorized. In practice, this means that unless a member is formally designated as an agent or given explicit permission, their actions and decisions do not legally represent or obligate the organization. This clause is essential for protecting the entity from unauthorized commitments and clarifying the limits of each member's power, thereby reducing the risk of liability arising from individual actions.
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Members Are Not Agents. Pursuant to Section 5.1, the management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.
Members Are Not Agents. Pursuant to Section 8, the management of the Company is vested in the Board of Managers. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company.
Members Are Not Agents. Pursuant to Section 4.1 and the Articles, the management of the Company is vested in the Manager. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind or execute any instrument on behalf of the Company or make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on it by law.
Members Are Not Agents. Pursuant to Section 5.1, the management of the Company is vested in the Executive Committee. No Member, acting solely in the capacity of a Member, is an agent of the Company nor can any Member in such capacity bind nor execute any instrument on behalf of the Company.
Members Are Not Agents. No Member acting solely in the capacity of a Member is an agent of the Company, nor can any Member acting solely in the capacity of a Member bind the Company or execute any instrument on behalf of the Company.
Members Are Not Agents. The management of the Company is vested in the Manager. The Members shall have no power to participate in the management of the Company except as expressly authorized by the Act, this Agreement or the Certificate of Formation. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose. Any attempt to do so is null and void.
Members Are Not Agents. No Member has any right to participate in the management of the Fund except as expressly authorized by the Act or this Agreement. No Member, acting solely in the capacity of a Member, is an agent of the Fund, nor does any Member, unless expressly and duly authorized in writing to do so by the Administrator, have any power or authority to bind or act on behalf of the Fund in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.
Members Are Not Agents. Pursuant to Section 5.1 and the Certificate, the management of the LLC is vested in the Executive Committee and Officers. No Member, acting solely in the capacity of a Member, is an agent of the LLC nor can any Member in such capacity bind nor execute any instrument on behalf of the LLC.
Members Are Not Agents. Pursuant to Article 5, the management of the Company is vested in the Board. The Members shall have no power to manage or participate in the management of the Company, or bind or act on behalf of the Company in any way, except as expressly authorized by the Act, this Agreement or the Certificate. No Member, acting solely in the capacity of a Member, is an agent of the Company nor does any Member, unless expressly and duly authorized in writing to do so by the Board, have any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose.
Members Are Not Agents. The management of the Company is vested exclusively in the Managers. No Member may be an agent of the Company, nor may any Member, in its capacity as a Member, bind or execute any agreement, instrument or document on behalf of the Company without the prior written consent of the Managers.