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Common use of No Management or Control Clause in Contracts

No Management or Control. The Member shall have no power whatsoever with respect to the management of the business and affairs of the Company or have any right or authority to act for or bind the Company.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Automated Securities Clearance LLC), Limited Liability Company Agreement (Automated Securities Clearance LLC)

Related Clauses

  • Traffic Management
  • Virus Management
  • LABOUR MANAGEMENT RELATIONS
  • Patch Management
  • No Frustration

Parent Clauses

  • Status and Rights of the Member
  • Status Rights and Powers of Members and Certain Member Agreements
  • Status Rights and Powers of Limited Partners
  • Status Rights and Powers of Members
  • Limited Partners

Sub-Clauses

  • Definitions the Trust
  • Definitions
  • Successor Trustee
  • Book-Entry System
  • General Prohibition
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