Managers as Agents. To the extent of their powers set forth in this Agreement and subject to SECTION 9(j), the Managers are agents of the Company for the purpose of the Company's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except as provided in this Agreement or in a resolution of the Managers, a Manager may not bind the Company.
Appears in 1 contract
Sources: Limited Liability Company Operating Agreement (American Capital Strategies LTD)
Managers as Agents. To the extent of their powers set forth in this Agreement and subject to SECTION 9(j)8.4, the Managers are agents of the Company for the purpose of the Company's business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except as provided in this Agreement or in a resolution of the Managers, a Manager may not bind the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (GE-WMC Mortgage Securities, L.L.C.)