Rights and Powers of the Manager Clause Samples
The "Rights and Powers of the Manager" clause defines the authority and responsibilities granted to the manager within an organization or agreement. Typically, this clause outlines the manager's ability to make decisions, enter into contracts, manage assets, and oversee daily operations on behalf of the entity. For example, it may specify that the manager can hire employees, approve expenditures, or represent the company in negotiations. The core function of this clause is to clearly delineate the scope of the manager's control, ensuring efficient management and reducing ambiguity about decision-making authority.
Rights and Powers of the Manager. 10.1 The manager shall have sole and complete control of the management and operation of the affairs and business of the limited liability company and shall operate the limited liability company for the benefit of all of the members. One of the signatures of the manager shall be sufficient to bind the limited liability company (so long as such signatory has the consent thereto of the other managers, if there is more than one manager).
10.2 The manager (acting for and on behalf and at the expense of the limited liability company), in extension and not in limitation of the rights and powers given by law or by the other provisions of these Articles, shall, in its sole discretion, have full and entire right, power and authority in the management of the business and affairs of the limited liability company:
(a) to purchase, acquire, own, lease, manage and operate, either directly or indirectly, the real estate described in Article 3 hereof (or any interest or interests therein), and to carry on any and all activities related thereto; and to invest and reinvest any funds or monies of the limited liability company in such property, real, personal, or mixed, as may be consistent with the purposes of the limited liability company set forth in Article 3 hereof;
(b) subject to the provisions of Article 12.2 hereof, to sell, with or without notice, at public or private sale, and to exchange, trade, transfer, assign, convey, mortgage or otherwise encumber, finance, refinance, lease for any term, pledge, appraise, or have appraised, apportion, divide in kind, borrow on, hypothecate or give options for any and all of the property of the limited liability company, whether realty or personalty, upon such terms and conditions as the manager, in its sole discretion, may deem to be in the best interests of the limited liability company, and in so doing to execute, acknowledge, seal and deliver all necessary documents or instruments;
(c) to cause the limited liability company to participate in any capacity (whether as stockholder, bondholder, creditor, partner, venturer, member, fiduciary, beneficiary or otherwise) in any business or organization or enterprise, whether incorporated or unincorporated, in any manner or form whatsoever, to the extent consistent with the purposes of the limited liability company set forth in Article 3 hereof;
(d) to employ agents, servants, employees and independent contractors to assist in or assume full responsibility for the management and oper...
Rights and Powers of the Manager. Section 4.1. Manager's Powers and Responsibilities...............................................
Rights and Powers of the Manager. In addition to the rights and powers which it may have under the Act, the Manager shall have all rights and powers necessary for the management of the Company, including, without limitation, the right and power to do the following:
(a) To execute any and all agreements, contracts, documents, certifications and instruments necessary or convenient in connection with the management of the Company or its assets;
(b) To engage in any kind of activity and to perform and carry out contracts of any kind necessary to or in connection with or incidental to the accomplishment of the purpose of the Company as may be lawfully carried on or performed under the laws of the State of Florida;
(c) To acquire, by purchase, lease, option, or otherwise, any real, personal, or mixed property or any interest therein, which may be necessary, convenient, or incidental to the accomplishment of the purposes of the Company;
(d) To sell, assign, exchange, lease, or otherwise transfer all or part of the Company assets;
(e) To borrow money required for the business and affairs of the Company, and to issue evidences of indebtedness necessary, convenient or incidental to the accomplishment of the purposes of the Company;
(f) To invest the capital contributions of the Manager and reinvest the proceeds from the sale of the Company assets in such investments and upon such terms as the Manager shall determine;
(g) To employ any Persons in connection with management of the Company’s assets and business;
(h) To retain counsel, accountants, financial advisors, and other professional personnel;
(i) To enter into, make and perform such contracts, agreements and other undertakings, and do such other acts as the Manager deems necessary or advisable, or as may be incidental to or necessary for the conduct of the business of the Company;
(j) To designate the depository or depositories in which all bank accounts of the Company shall be kept and the person or persons upon whose signature or signatures withdrawals therefrom shall be made;
(k) To prosecute, defend, settle, compromise, or submit to arbitration, any suits, actions, or claims at law or in equity to which the Company is a party or by which the Company is affected; and
(1) To engage in such other activities and incur such other expenses as may in its judgment be necessary or appropriate for the furtherance of the Company’s purposes, and to execute, acknowledge, and deliver any and all instruments necessary to the foregoing.
Rights and Powers of the Manager