Common use of Exercise of Authority Clause in Contracts

Exercise of Authority. The University and the Commonwealth acknowledge and 178 agree that the execution of this management agreement constitutes the conclusion of a process that, as 179 of the effective date of this Agreement, confers upon the University the enhanced authority and 180 operating flexibility described in this article above, all of which is in furtherance of the purposes of 181 Article 4 of the Act. Therefore, without any further conditions or requirements, the University shall, on 182 and after the effective date of this management agreement, be authorized to exercise the authority 183 conferred upon it by this management agreement, the policies adopted by its board of visitors attached 184 hereto as Exhibits A through F, and by §§ 23.1-1008 through 23.1-1011 of the Act, except to the extent 185 that the powers and authority contained therein have been limited by this management agreement or the 186 board of visitors policies attached hereto as Exhibits A through F. 187 The University and the Commonwealth also acknowledge and agree that, pursuant to subsection L of 188 § 23.1-1006 of the Act and consistent with the terms of this management agreement, the board of 189 visitors of the University shall assume full responsibility for management of the University, subject to 190 the requirements and conditions set forth in Article 4 of the Act, the general requirements for this 191 management agreement as provided in § 23.1-1002 of the Act, and this management agreement. The 192 board of visitors shall be fully accountable for (i) the management of the University as provided in the 193 Act, (ii) meeting the requirements of §§ 23.1-206 and 23.1-306 of the Code of Virginia, and (iii) meeting 194 such other provisions as are set forth in this management agreement.

Exercise of Authority. The University and the Commonwealth acknowledge and 178 agree that the execution of this management agreement Management Agreement constitutes the conclusion of a process that, as 179 of the effective date of this Agreement, confers upon the University the enhanced authority and 180 operating flexibility described in this article above, all of which is in furtherance of the purposes of 181 Article 4 Subchapter 3 of the Act. Therefore, without any further conditions or requirements, the University shall, on 182 and after the effective date of this management agreementManagement Agreement, be authorized to exercise the authority 183 conferred upon it by this management agreement, Management Agreement and the policies adopted by its board Board of visitors Visitors attached 184 hereto as Exhibits A M through FR, and by §§ 23.1-1008 through 23.1-1011 Article 3 (Powers and Authority Generally) of Subchapter 3 of the Act, Act except to the extent 185 that the powers and authority contained therein in Article 3 of Subchapter 3 of the Act have been limited by this management agreement Management Agreement or the 186 board Board of visitors Visitors policies attached hereto as Exhibits A M through F. 187 R. The University and the Commonwealth also acknowledge and agree that, pursuant to subsection L A of 188 § 23.123-1006 38.91 of the Act and consistent with the terms of this management agreementManagement Agreement, the board Board of 189 visitors Visitors of the University shall assume full responsibility for management of the University, subject to 190 the requirements and conditions set forth in Article 4 Subchapter 3 of the Act, the general requirements for this 191 management agreement Management Agreement as provided in § 23.1-1002 23- 38.88 of the Act, and this management agreementManagement Agreement. The 192 board Board of visitors Visitors shall be fully accountable for (ia) the management of the University as provided in the 193 Act, (iib) meeting the requirements of §§ 23.12.2-206 5004, 23-9.2:3.02, and 23.123-306 9.6:1.01 of the Code of Virginia, and (iiic) meeting 194 such other provisions as are set forth in this management agreementManagement Agreement.

Exercise of Authority. The University and the Commonwealth acknowledge and 178 agree that the execution of this management agreement Management Agreement constitutes the conclusion of a process that, as 179 of the effective date of this Agreement, confers upon the University the enhanced authority and 180 operating flexibility described in this article above, all of which is in furtherance of the purposes of 181 Article 4 Subchapter 3 of the Act. Therefore, without any further conditions or requirements, the University shall, on 182 and after the effective date of this management agreementManagement Agreement, be authorized to exercise the authority 183 conferred upon it by this management agreement, Management Agreement and the policies adopted by its board Board of visitors Visitors attached 184 hereto as Exhibits A C through FH, and by §§ 23.1-1008 through 23.1-1011 Article 3 (Powers and Authority Generally) of Subchapter 3 of the Act, Act except to the extent 185 that the powers and authority contained therein in Article 3 of Subchapter 3 of the Act have been limited by this management agreement Management Agreement or the 186 board Board of visitors Visitors policies attached hereto as Exhibits A C through F. 187 H. The University and the Commonwealth also acknowledge and agree that, pursuant to subsection L A of 188 § 23.123-1006 38.91 of the Act and consistent with the terms of this management agreementManagement Agreement, the board Board of 189 visitors Visitors of the University shall assume full responsibility for management of the University, subject to 190 the requirements and conditions set forth in Article 4 Subchapter 3 of the Act, the general requirements for this 191 management agreement Management Agreement as provided in § 23.123-1002 38.88 of the Act, and this management agreementManagement Agreement. The 192 board Board of visitors Visitors shall be fully accountable for (ia) the management of the University as provided in the 193 Act, (iib) meeting the requirements of §§ 23.12.2-206 5004, 23-9.2:3.02, and 23.123-306 9.6:1.01 of the Code of Virginia, and (iiic) meeting 194 such other provisions as are set forth in this management agreementManagement Agreement.

Exercise of Authority. The University College and the Commonwealth acknowledge and 178 agree that the execution of this management agreement Management Agreement constitutes the conclusion of a process that, as 179 of the effective date of this Agreement, confers upon the University College the enhanced authority and 180 operating flexibility described in this article above, all of which is in furtherance of the purposes of 181 Article 4 Subchapter 3 of the Act. Therefore, without any further conditions or requirements, the University College shall, on 182 and after the effective date of this management agreementManagement Agreement, be authorized to exercise the authority 183 conferred upon it by this management agreementManagement Agreement, the policies adopted by its board Board of visitors Visitors attached 184 hereto as Exhibits A G through FL, and by §§ 23.1-1008 through 23.1-1011 Article 3 (Powers and Authority Generally) of Subchapter 3 of the Act, Act except to the extent 185 that the powers and authority contained therein in Article 3 of Subchapter 3 of the Act have been limited by this management agreement Management Agreement or the 186 board Board of visitors Visitors policies attached hereto as Exhibits A G through F. 187 L. The University College and the Commonwealth also acknowledge and agree that, pursuant to subsection L A of 188 § 23.123-1006 38.91 of the Act and consistent with the terms of this management agreementManagement Agreement, the board Board of 189 visitors Visitors of the University College shall assume full responsibility for management of the UniversityCollege, subject to 190 the requirements and conditions set forth in Article 4 Subchapter 3 of the Act, the general requirements for this 191 management agreement Management Agreement as provided in § 23.123-1002 38.88 of the Act, and this management agreementManagement Agreement. The 192 board Board of visitors Visitors shall be fully accountable for (ia) the management of the University College as provided in the 193 Act, (iib) meeting the requirements of §§ 23.12.2-206 5004, 23-9.2:3.02, and 23.123-306 9.6:1.01 of the Code of Virginia, and (iiic) meeting 194 such other provisions as are set forth in this management agreementManagement Agreement.