Common use of Actions of the Managers Clause in Contracts

Actions of the Managers. (a) All actions and decisions of the Managers shall be made or approved by a majority of the Managers. Actions and decisions by the Managers may be made or approved at a meeting held in accordance with the provisions of this Agreement or by a written instrument executed by the number of Managers required to take or approve such action under this Section 4.5(a). (b) Notwithstanding Section 4.5(a) or any other provision to the contrary contained in this Agreement, the following matters shall require approval by the Member: (1) the borrowing of money or otherwise committing the credit of the Company for any purpose; (2) the entering into of any transaction with any Person where such transaction is outside the scope of this Agreement; (3) the admission of a Person as an additional or substituted member of the Company; (4) the dissolution or liquidation of the Company; (5) any merger or consolidation of the Company with any other entity; and (6) selecting, removing, and changing the authority and responsibility of lawyers, accountants, and other advisers and consultants.