Common use of AUTHORITY AND POWERS Clause in Contracts

AUTHORITY AND POWERS. All powers of the Company shall be exercised by or under the authority of the Board of Directors. Decisions of the Board of Directors within its scope of authority shall be binding upon the Company. Such powers shall specifically include but shall not be limited to the power to: (a) Authorize any Officer or Officers, agent or agents to sign all checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Company, which shall be signed by such Officer or Officers, agent or agents of the Company and in such manner, including by means of facsimile signatures, as shall from time to time be determined by or under the authority of a resolution of the Board of Directors; (b) Select directly or under the authority of a resolution such banks, trust companies or other depositories to which all funds of the Company not otherwise employed shall be deposited from time to time to the credit of the Company; (c) Borrow and lend money at such rates of interest and from or to such parties as is approved, such approval may be general or confined to specific instances; (d) Take such actions as are consistent with the Company's business and purpose under Section 1.3 of this Agreement; (e) Insure the Company's activities and property; (f) Pay out of the Company's funds all fees and expenses incurred in the organization and operation of the Company; (g) Authorize the execution of all documents, instruments and agreements reasonably deemed by the Board of Directors to be necessary, appropriate or needed for the performance of its duties and the exercise of its powers under this Agreement; (h) Appoint a registered agent or change the registered office pursuant to Section 1.4 above; and (i) Retain attorneys, accountants and other professionals in the course of the performance of the Directors' duties and exercise of their powers.

AUTHORITY AND POWERS. All powers of the Company shall be -------------------- exercised by or under the authority of the Board of Directors. Decisions of the Board of Directors within its scope of authority shall be binding upon the Company. Such powers shall specifically include but shall not be limited to the power to: (a) Authorize any Officer or Officers, agent or agents to sign all checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Company, which shall be signed by such Officer or Officers, agent or agents of the Company and in such manner, including by means of facsimile signatures, as shall from time to time be determined by or under the authority of a resolution of the Board of Directors; (b) Select directly or under the authority of a resolution such banks, trust companies or other depositories to which all funds of the Company not otherwise employed shall be deposited from time to time to the credit of the Company; (c) Borrow and lend money at such rates of interest and from or to such parties as is approved, such approval may be general or confined to specific instances; (d) Take such actions as are consistent with the Company's business and purpose under Section 1.3 of this Agreement; (e) Insure the Company's activities and property; (f) Pay out of the Company's funds all fees and expenses incurred in the organization and operation of the Company; (g) Authorize the execution of all documents, instruments and agreements reasonably deemed by the Board of Directors to be necessary, appropriate or needed for the performance of its duties and the exercise of its powers under this Agreement; (h) Appoint a registered agent or change the registered office pursuant to Section 1.4 above; and (i) Retain attorneys, accountants and other professionals in the course of the performance of the Directors' duties and exercise of their powers.

AUTHORITY AND POWERS. All powers of the Company shall be exercised by or under the authority of the Board of Directors. Decisions of the Board of Directors within its scope of authority shall be binding upon the Company. Such powers shall specifically include but shall not be limited to the power to: (a) Authorize any Officer or Officers, agent or agents to sign all checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Company, which shall be signed by such Officer or Officers, agent or agents of the Company and in such manner, including by means of facsimile signatures, as shall from time to time be determined by or under the authority of a resolution of the Board of Directors; (b) Select directly or under the authority of a resolution such banks, trust companies or other depositories to which all funds of the Company not otherwise employed shall be deposited from time to time to the credit of the Company; (c) Borrow and lend money at such rates of interest and from or to such parties as is approved, such approval may be general or confined to specific instances; (d) Take such actions as are consistent with the Company's ’s business and purpose under Section 1.3 of this Agreement; (e) Insure the Company's ’s activities and property; (f) Pay out of the Company's ’s funds all fees and expenses incurred in the organization and operation of the Company; (g) Authorize the execution of all documents, instruments and agreements reasonably deemed by the Board of Directors to be necessary, appropriate or needed for the performance of its duties and the exercise of its powers under this Agreement; (h) Appoint a registered agent or change the registered office pursuant to Section 1.4 above; and (i) Retain attorneys, accountants and other professionals in the course of the performance of the Directors' ’ duties and exercise of their powers.