Common use of Duties of Managers Clause in Contracts

Duties of Managers. In addition to the rights and duties of the Managers set forth elsewhere in this Agreement and subject to the other provisions of this Agreement, the Managers shall be responsible for and are hereby authorized to: (a) control the day to day operations of the Company; (b) hire or appoint employees, agents, independent contractors or officers of the Company; (c) carry out and effect all directions of the Members; (d) select and engage the Company’s accountants, attorneys, engineers and other professional advisors; (e) apply for and obtain appropriate insurance coverage for the Company; (f) temporarily invest funds of the Company in short term investments where there is appropriate safety of principal; (g) acquire in the name of the Company by purchase, lease or otherwise, any real or personal property which may be necessary, convenient or incidental to the accomplishment of the purposes of the Company; (h) engage in any kind of activity and perform and carry out contracts of any kind necessary to, in connection with, or incidental to the accomplishment of the purposes of the Company, so long as said activities and contracts may be lawfully carried on or performed by a limited liability company under the Act and are in the ordinary course of the Company’s business; (i) negotiate, execute and perform all agreements, contracts, leases, loan documents and other instruments and exercise all rights and remedies of the Company in connection with the foregoing; (j) nominate candidates for consideration by the Class A Units for election to the Board of Managers; (k) adjust the compensation, in the Board’s discretion, payable under Section 6.5(b); and (l) establish and issue one or more classes of units or series within classes, to set forth the designation of class or series within classes of such units, and to fix the relative rights, preferences, privileges and limitations of each class or series within classes of units.

Duties of Managers. In addition to the rights and duties of the Managers set forth elsewhere in this Agreement and subject to the other provisions of this Agreement, the Managers shall be responsible for and are hereby authorized to: (a) control oversee the day to day operations of the Company; (b) delegate power and authority to one or more officers of the Company in accordance with this Agreement; (c) approve the Budget by December 1st of the preceding year and any material deviations therefrom by unanimous vote; (d) hire or appoint employees, agents, independent contractors or officers of the Company; (ce) carry out and effect all directions of the Members; (df) select and engage the Company’s accountants, attorneys, engineers attorneys and other professional advisors; (eg) apply for and obtain appropriate insurance coverage for the Company; (fh) temporarily invest funds of the Company in short term investments where there is appropriate safety of principal; (gi) acquire in the name of the Company by purchase, lease or otherwise, any real or personal property which may be necessary, convenient or incidental to the accomplishment of the purposes of the Company; (hj) engage in any kind of activity and perform and carry out contracts of any kind necessary to, in connection with, or incidental to the accomplishment of the purposes of the Company, so long as said activities and contracts may be lawfully carried on or performed by a limited liability company under the Act and are in the ordinary course of the Company’s business;; and (ik) in the ordinary course of day-to-day operations, negotiate, execute and perform all agreements, contracts, leases, loan documents and other instruments and exercise all rights and remedies of the Company in connection with the foregoing; (j) nominate candidates for consideration by the Class A Units for election to the Board of Managers; (k) adjust the compensation, in the Board’s discretion, payable under Section 6.5(b); and (l) establish and issue one or more classes of units or series within classes, to set forth the designation of class or series within classes of such units, and to fix the relative rights, preferences, privileges and limitations of each class or series within classes of units.