Common use of Appointment and Term Clause in Contracts

Appointment and Term. The Corporation hereby appoints the Manager to be its sole and exclusive representative, manager and agent, subject in all respects to the overall control and instructions of the Corporation and its Board of Directors (the “Board”) and to the specific provisions of this Agreement and the provisions of the Act, to manage the Common Property for an initial term of One (1) Year commencing on TBD and ending on TBD and thereafter for successive periods of one (1) year from time to time unless, on or before the date that is Sixty (60) days prior to the expiration of the initial term or any renewal term as the case may be, either the Corporation or the Manager delivers notice to the other in writing stating that it elects to terminate this Agreement at the end of the said period, subject to prior termination in accordance with this Agreement, and for the purposes thereof, in the name of the Corporation, to act on its behalf in carrying out the duties of the Manager, as manager, as set out herein, and to enter into such contracts and agreements in the name of the Corporation as may be necessary in the performance of such duties as sole and exclusive representative, manager and agent of the Corporation.