Power of Members. Except as expressly provided in this Agreement or the Act, no Member shall take any part in the management of the business or transact any business for the Company or shall have any power, solely in its capacity as a Member, to sign for, act for, bind, or assume any obligation or responsibility on behalf of, any other Member or the Company. Except as specifically provided in this Agreement, with respect to any action of the Company submitted to a vote of the Members, any Member may vote or refrain from voting for or against any such action of the Company, in such Member’s sole and absolute discretion.
Appears in 2 contracts
Sources: Master Purchase and Sale Agreement (Plum Creek Timber Co Inc), Master Purchase and Sale Agreement (MEADWESTVACO Corp)