Action of the Member Sample Clauses

The "Action of the Member" clause defines the procedures and authority by which a member of an organization or entity may make decisions or take actions on behalf of that entity. Typically, this clause outlines the scope of actions a member can undertake, such as signing contracts, approving expenditures, or representing the entity in official matters, and may specify whether such actions require prior approval or can be taken independently. By clearly delineating the powers and responsibilities of members, this clause ensures organizational decisions are made appropriately and helps prevent unauthorized or ambiguous actions.
Action of the Member. Subject to the terms of the Equityholders Agreement (including but not limited to Section 2.1(j)(i) thereof), the actions of the Member, taken in such capacity, shall bind the Company. Subject to the terms of the Equityholders Agreement, except as expressly delegated to an officer or other Person, the Member shall be the sole Person with the power to bind the Company. Unless otherwise required by this Agreement or by law, the Member may take action or give its consent in writing or by oral or electronic communication, and no action need be taken at a formal meeting.
Action of the Member. The actions of the Member, taken in such capacity, shall bind the Company. Except as expressly delegated to an officer or other Person, the Member shall be the sole Person with the power to bind the Company. Unless otherwise required by this Agreement or by law, the Member may take action or give its consent in writing or by oral or electronic communication, and no action need be taken at a formal meeting.
Action of the Member. Except to the extent that this Agreement expressly requires otherwise, every action or resolution done or made by the Member is the action of the Members.
Action of the Member. The term “Action of the Member” shall mean an action or resolution, which is approved by (i) the vote of the sole Member, if there is then only one Member, or (ii) if there are two or more Members, the vote of a majority of outstanding Units present at a meeting of the Member or by written consent in lieu of a meeting. Any written consent must be in writing, must be approved by the same majority of Units that is required for a valid action at a meeting, must set forth the action to be taken, and must be signed by the Member.

Related to Action of the Member

  • Liability of the Member All debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member.

  • Powers of the Member Pursuant to Section ▇▇-▇▇-▇▇▇ of the Act, the Member is authorized: (a) to make all decisions regarding the Company’s operations and legal affairs, including but not limited to: i. the sale, development, lease, or other disposition of the Company's assets; ii. the purchase or acquisition of other assets; iii. the management of all or any part of the Company's assets; iv. the borrowing of money and granting of security interests in the Company's assets; v. the pre-payment, refinancing, or extension of any loan affecting the Company's assets; vi. the compromise or release of any of the Company's claims or debts; and vii. the employment of persons, firms, or corporations for the operation and management of the Company's business; and (b) to execute and deliver: i. all contracts, conveyances, assignments, leases, sub-leases, franchise agreements, licensing agreements, management contracts, and maintenance contracts covering or affecting the Company's assets; ii. all checks, drafts, and other orders for the payment of the Company's funds; iii. all promissory notes, loans, security agreements and other similar documents; and iv. all other instruments of any kind relating to the Company's business and affairs.

  • The Member The Member is the owner of the Company. Pursuant to Section 401 of the Law, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.

  • Dissociation of a Member The withdrawal, resignation, retirement, disability, expulsion, or bankruptcy of a member will terminate the membership of the member in the Company. Such a member will be deemed a “dissociated member.”

  • Status of the Manager The services of the Manager to the Fund, or with respect to the Portfolio, are not to be deemed exclusive, and the Manager shall be free to render similar services to others, as long as its services to the Fund or to the Portfolio are not impaired thereby. The Manager shall be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way, or otherwise be deemed an agent of the Fund.