Manager Authority. The Manager have the power, on behalf of the Company, to do all things necessary or convenient to carry out the business and affairs of the Company except the following actions, which shall be reserved to the Member: (a) The admission of an additional Member; (b) The change in the purpose of the Company; (c) The approval of a merger, conversion or the application of any statute (the application of which is elective) to the Company; (d) The sale, exchange, or other disposition of all, or substantially all, of the property other than in the ordinary course of the Company’s business; and (e) The amendment of this Operating Agreement.
Appears in 2 contracts
Sources: Operating Agreement (Century at Murphy Creek, LLC), Operating Agreement (Century at Murphy Creek, LLC)