Common use of Power and Authority of Managing Member Clause in Contracts

Power and Authority of Managing Member. The business and affairs of the Company shall be managed by the Managing Member, who shall have the power and authority, on behalf of the Company, to take any action of any kind not inconsistent with the provisions of this Agreement and to do anything and everything it deems necessary or appropriate to carry on the business and purposes of the Company, including, but not limited to: 1. to manage and direct the business affairs of the Company, to do any and all acts on behalf of the Company and to exercise all rights of the Company with respect to its interest in any other Person (as defined in the Delaware Act), corporation, partnership, limited liability company or other entity, including, without limitation, the voting of securities, exercise of redemption rights, participation in arrangements with creditors, the institution, defense and settlement or compromise of suits and administrative proceedings and other like or similar matters; 2. to acquire, own, lease, sublease, manage, hold, deal in, control or dispose of any interests or rights in real or personal property; 3. to hire employees, consultants, attorneys, accountants, appraisers and other advisers for the Company; 4. to open, maintain and close bank accounts and draw checks or other orders for the payment of funds; 5. to borrow money or obtain credit from banks, lending institutions or any other Person; 6. to guarantee debt on behalf of the Company’s subsidiaries now or hereinafter in existence, and to secure the same by a mortgage, deed of trust, pledge or other lien on any or all the assets of the Company; 7. to assume obligations, incur liabilities, lend money or otherwise use the credit of the Company; 8. to direct the formulation of policies and strategies for, and perform all other acts on behalf of, the Company and any entities for which the Company acts as general partner, adviser, manager, managing member, or in other similar capacities including those activities specified above in clauses (1) and (2); and 9. to enter into any contracts it deems necessary or advisable to facilitate the business of the Company.

Power and Authority of Managing Member. The business and affairs of the Company shall be managed by the Managing Member, who shall have the power and authority, on behalf of the Company, to take any action of any kind not inconsistent with the provisions of this Agreement and to do anything and everything it deems necessary or appropriate to carry on the business and purposes of the Company, including, but not limited to: 1. to manage and direct the business affairs of the Company, to do any and all acts on behalf of the Company and to exercise all rights of the Company with respect to its interest in any other Person (as defined in the Delaware Act), corporation, partnership, limited liability company or other entity, including, without limitation, the voting of securities, exercise of redemption rights, participation in arrangements with creditors, the institution, defense and settlement or compromise of suits and administrative proceedings and other like or similar matters; 2. to acquire, own, lease, sublease, manage, hold, deal in, control or dispose of any interests or rights in real or personal property; 3. to hire employees, consultants, attorneys, accountants, appraisers and other advisers for the Company; 4. to open, maintain and close bank accounts and draw checks or other orders for the payment of funds; 5. to borrow money or obtain credit from banks, lending institutions or any other Person; 6. to guarantee debt on behalf of the Company’s subsidiaries now or hereinafter in existence, and to secure the same by a mortgage, deed of trust, pledge or other lien on any or all the assets of the Company; 7. to assume obligations, incur liabilities, lend money or otherwise use the credit of the Company; 8. to direct the formulation of policies and strategies for, and perform all other acts on behalf of, the Company and any entities for which the Company acts as general partner, adviser, manager, managing member, or in other similar capacities capacities, including those activities specified above in clauses (1) and (2); and 9. to enter into any contracts it deems necessary or advisable to facilitate the business of the Company.

Power and Authority of Managing Member. The business and affairs of the Company shall be managed by the Managing Member, who shall have the power and authority, on behalf of the Company, to take any action of any kind not inconsistent with the provisions of this Agreement and to do anything and everything it deems necessary or appropriate to carry on the business and purposes of the Company, including, but not limited to: 1. to manage and direct the business affairs of the Company, to do any and all acts on behalf of the Company and to exercise all rights of the Company with respect to its interest in any other Person (as defined in the Delaware Act), corporation, partnership, limited liability company or other entity, including, without limitation, the voting of securities, exercise of redemption rights, participation in arrangements with creditors, the institution, defense and settlement or compromise of suits and administrative proceedings and other like or similar matters; 2. to acquire, own, lease, sublease, manage, hold, deal in, control or dispose of any interests or rights lights in real or personal property; 3. to hire employees, consultants, attorneys, accountants, appraisers and other advisers for the Company; 4. to open, maintain and close bank accounts and draw checks or other orders for the payment of funds; 5. to borrow money or obtain credit from banks, lending institutions or any other Person; 6. to guarantee debt on behalf of the Company’s subsidiaries now or hereinafter in existence, and to secure the same by a mortgage, deed of trust, pledge or other lien on any or all the assets of the Company; 7. to assume obligations, incur liabilities, lend money or otherwise use the credit of the Company; 8. to direct the formulation of policies and strategies for, and perform all other acts on behalf of, the Company and any entities for which the Company acts as general partner, adviser, manager, managing member, or in other similar capacities including those activities specified above in clauses (1) and (2); and 9. to enter into any contracts it deems necessary or advisable to facilitate the business of the Company.