Power of Members. The Member shall have the power to exercise any and all rights or powers granted to the Member pursuant to the express terms of this Agreement. The Member shall have the power to pledge (pursuant to the Pledge Agreement or otherwise) or grant a security interest, lien or other encumbrance in or against, any or all of the Member's interest and such pledge or grant shall not cause the Member to cease to be a Member or to cease to have the power to exercise any rights or powers of a Member. Except as otherwise specifically provided by this Agreement or required by the Act, no Member shall have the power to act for or on behalf of, or to bind, the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Mobile Field Office Co)
Power of Members. The Member shall have the power to exercise any and all rights or powers granted to the Member pursuant to the express terms of this Agreement. The Member shall have the power to pledge (pursuant to the Pledge Agreement or otherwise) or grant a security interest, lien or other encumbrance in or against, any or all of the Member's ’s interest and such pledge or grant shall not cause the Member to cease to be a Member or to cease to have the power to exercise any rights or powers of a Member. Except as otherwise specifically provided by this Agreement or required by the Act, no Member shall have the power to act for or on behalf of, or to bind, the Company.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Williams Scotsman Inc)