Common use of Authority of the Asset Manager Clause in Contracts

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z Asset as of such date, individually, or 3% of the value of the #WGI3Z Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 2 contracts

Samples: Asset Management Agreement (Ark7 Properties Plus LLC), Asset Management Agreement (Ark7 Properties Plus LLC)

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Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z [Series Name] Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z [Series Name] Asset as of such date, individually, or 3% of the value of the #WGI3Z [Series Name] Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z [Series Name] Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z [Series Name] Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z [Series Name] Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Ark7 Properties LLC), Limited Liability Company Agreement

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z DJVWQ Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z DJVWQ Asset as of such date, individually, or 3% of the value of the #WGI3Z DJVWQ Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z DJVWQ Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z DJVWQ Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z DJVWQ Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z QGXF0 Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z QGXF0 Asset as of such date, individually, or 3% of the value of the #WGI3Z QGXF0 Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z QGXF0 Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z QGXF0 Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z QGXF0 Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties Plus LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z MHQNN Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z MHQNN Asset as of such date, individually, or 3% of the value of the #WGI3Z MHQNN Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z MHQNN Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z MHQNN Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z MHQNN Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series#FTWDS, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z FTWDS Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z FTWDS Asset as of such date, individually, or 3% of the value of the #WGI3Z FTWDS Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series#FTWDS; or (ii) sell, transfer, encumber or convey the #WGI3Z FTWDS Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z FTWDS Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z FTWDS Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties Plus LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z KYLBE Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z KYLBE Asset as of such date, individually, or 3% of the value of the #WGI3Z KYLBE Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z KYLBE Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z KYLBE Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z KYLBE Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties LLC)

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Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z [Series Name] Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z [Series Name] Asset as of such date, individually, or 3% of the value of the #WGI3Z [Series Name] Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z Asset[Series Name] Axxxx, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z [Series Name] Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z [Series Name] Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ark7 Properties Plus LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z WRA7O Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z WRA7O Asset as of such date, individually, or 3% of the value of the #WGI3Z WRA7O Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z WRA7O Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z WRA7O Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z WRA7O Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties Plus LLC)

Authority of the Asset Manager. (a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Managing Member of the Series, the Asset Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the #WGI3Z SOV9W Asset and to take any action that it deems necessary or desirable in connection therewith. (b) The Asset Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Asset Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals. (c) The Asset Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Asset Manager on such terms as the Asset Manager shall determine. (d) Notwithstanding any other provision of this Agreement to the contrary, the Asset Manager shall not have the authority to: (i) acquire any asset or service for an amount equal to or greater than 1% of the value of the #WGI3Z SOV9W Asset as of such date, individually, or 3% of the value of the #WGI3Z SOV9W Asset as of such date, in the aggregate without the prior consent of the Managing Member of the Series; or (ii) sell, transfer, encumber or convey the #WGI3Z SOV9W Asset, provided, however, that the Asset Manager may deliver to the Managing Member of the Company any offers received by the Asset Manager to purchase the #WGI3Z SOV9W Asset and any research or analysis prepared by the Asset Manager regarding the potential sale of the #WGI3Z SOV9W Asset, including market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

Appears in 1 contract

Samples: Asset Management Agreement (Ark7 Properties Plus LLC)

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