Limitations on Company Powers Clause Samples

Limitations on Company Powers. Notwithstanding anything contained herein to the contrary, the Company shall not do business in any jurisdiction that would jeopardize the limitation on liability afforded to the Members under the Act or this Agreement.
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Limitations on Company Powers. Notwithstanding the foregoing provisions of Section 3.2, the Company shall not do business in any jurisdiction that would jeopardize the limitation on liability afforded to the Members under the Delaware Act or this Agreement.
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Limitations on Company Powers. 20 ARTICLE IV CAPITAL CONTRIBUTIONS, INTERESTS, CAPITAL ACCOUNTS AND ADVANCES
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Limitations on Company Powers. Notwithstanding the foregoing provisions of Section 3.2 hereof, the Company shall have no power or authority, without the approval of the Class B Managers, or to the extent same constitute Supermajority Decisions, without the approval of the Class A Manager and a majority of the Class B Managers: (i) to make a Transfer for the benefit of creditors or cause a Voluntary Bankruptcy to occur; (ii) to apply for the entry of a decree of judicial dissolution under Section 18-802 of the New York Act or otherwise; (iii) to confess a judgment on behalf of the Company for more than $200,000; (iv) to do any act in contravention of this Agreement; (v) to commingle the funds of the Company with those of any other Person; (vi) to change the purpose of the Company; (vii) except as set forth herein, to dissolve or liquidate the Company, seek a partition of the assets of the Company or a judicial dissolution of the Company; or (viii) to approve a trustee, custodian or receiver for the Company or its assets.
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Limitations on Company Powers. 18 Section 2.10 Tax Treatment of the Company 18 Article III MEMBERS 19 Section 3.01 General 19 Section 3.02 No Third Party Beneficiaries 19
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Related to Limitations on Company Powers

  • Limitations on Use No part of the moneys delivered to the Recipient pursuant to Section II hereof is being or will be used to refinance, retire, redeem, or otherwise pay debt service on all or any part of any part of any governmental obligations regardless of whether the interest on such obligations is or was excluded from gross income for federal income tax purposes unless prior approval by the Director is given.

  • Limitations on Activities Anything else in this Agreement to the contrary notwithstanding, the Advisor shall refrain from taking any action which, in its sole judgment made in good faith, would (a) adversely affect the status of the Corporation as a REIT, (b) subject the Corporation to regulation under the Investment Corporation Act of 1940, as amended, or (c) violate any law, rule, regulation or statement of policy of any governmental body or agency having jurisdiction over the Corporation, its Shares or its Securities, or otherwise not be permitted by the Charter or Bylaws of the Corporation, except if such action shall be ordered by the Board of Directors, in which case the Advisor shall notify promptly the Board of Directors of the Advisor’s judgment of the potential impact of such action and shall refrain from taking such action until it receives further clarification or instructions from the Board of Directors. In such event the Advisor shall have no liability for acting in accordance with the specific instructions of the Board of Directors so given. Notwithstanding the foregoing, the Advisor, its members, managers, directors, officers, employees and stockholders, and members, managers, stockholders, directors and officers of the Advisor’s Affiliates, shall not be liable to the Corporation or to the Board of Directors or stockholders for any act or omission by the Advisor, its members, managers, directors, officers or employees, or stockholders, members, managers, directors or officers of the Advisor’s Affiliates taken or omitted to be taken in the performance of their duties under this Agreement except as provided in Paragraph 19 of this Agreement.

  • Limitations on Termination Except as provided in Section 9.1, neither the Seller nor the Certificateholders shall be entitled to revoke or terminate the Issuer.

  • Limitations on Transferability This Agreement is personal to the Grantee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution.

  • Restrictions on Testing If the Engineer will perform commercial laboratory testing under this contract, on any project the Engineer may not perform more than one of the following types of testing: 1. verification testing; 2. quality control testing; or 3. independent assurance testing