Actions of the Managers. Subject to the delegation of rights and powers provided for herein, the Managers shall have the sole right to manage the business of the Company and shall have all powers and rights necessary, appropriate or advisable to effectuate and carry out the purposes and business of the Company. No Member, by reason of its status as such, shall have any authority to act for or bind the Company but shall have only the right to vote on and approve the actions herein specified to be voted on or approved by the Members.
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Sources: Limited Liability Company Operating Agreement (Advanta Bank Corp), Limited Liability Company Operating Agreement (Advanta Bank Corp)
Actions of the Managers. Subject to the delegation of rights and powers provided for herein, the Managers shall have the sole right to manage the business of the Company and shall have all powers and rights necessary, appropriate or advisable to effectuate and carry out the purposes and business of the Company. No MemberExcept as otherwise provided herein, by reason the vote of its status as such, two Managers shall have be necessary to approve any authority to act for or bind the Company but shall have only the right to vote on and approve the actions herein specified to be voted on or approved action by the MembersBoard of Managers.
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