General Duties and Authority. Manager shall have the sole and exclusive duty and authority to fully manage the Property and supervise and direct the business and affairs associated or related to the daily operation thereof, to collect on behalf of Owner all revenues related to the Property, to pay on behalf of Owner all expenses of the Property - and to execute on behalf of Owner such documents and instruments as, in the sole judgment of Manager, are reasonably necessary or advisable under the circumstances in order to fulfill Manager's duties hereunder. Such duties and authority shall include, without limitation, those set forth below. Notwithstanding the foregoing or any other term or provision herein, upon notice to Manager, Owner shall have the right to assume responsibility for the direct payment of certain expenses of Owner, as may be determined by Owner. In such event, Owner shall provide an accounting of such costs to Manager. In the event Owner fails to provide such accounting to Manager, Manager shall assume no liability for nonpayment for such expenses so assumed by Owner. The parties acknowledge and agree that Owner will retain title to, ownership of, and exclusive right to control the Property, subject to the terms of this Agreement, and that portion of the Gross Revenue (as hereinafter defined) owned by Owner (“Owner’s Revenue”) (which includes the revenue from the storage operations at the Property, retail sales, miscellaneous income and Owner’s UMove commission), and that Manager will not acquire title to, any interest in, or any income or revenues from the Property or Owner’s Revenue. In performing its services and making any payments hereunder, Manager will make known to third parties that Manager is acting solely as the agent of Owner. Under no circumstances will Manager represent or hold itself out to any third party as having any title to or property interest in the Property or Owner’s Revenue.
General Duties and Authority. Subject only to the restrictions and limitations provided in paragraphs (o) and (p) of this Section 2 and the right of Owner to terminate this Agreement as provided in Section 6 hereof, U-Haul shall have the sole and exclusive authority to fully manage the Property and supervise and direct the business and affairs associated or related to the daily operation thereof, and, to that end on behalf of Owner, to execute such documents and instruments as, in the sole judgment of U-Haul, are reasonably necessary or advisable under the circumstances in order to fulfill U-Haul's duties hereunder. Such duties and authority shall include, without limitation, those set forth below.
General Duties and Authority. Manager shall have the sole and exclusive duty and authority to fully manage the Property and supervise and direct the business and affairs associated or related to the daily operation thereof, to collect on behalf of Owner all revenues related to the Property, to pay on behalf of Owner all expenses of the Property (including payment of all debt service to the mortgage lender with respect to the Property and any other debt owed by Owner to any other lender or payee) and to execute on behalf of Owner such documents and instruments as, in the sole judgment of Manager, are reasonably necessary or advisable under the circumstances in order to fulfill Manager's duties hereunder. Such duties and authority shall include, without limitation, those set forth below.
General Duties and Authority. Subject only to the restrictions and limitations provided for herein and the right of the Owner to terminate this Agreement as provided herein, the Manager shall have the sole and exclusive authority to fully and completely supervise the Hotels and supervise and direct the business and affairs associated or related to the operation thereof, and to that end to cause or direct the Owner to execute such documents or instruments and hire or discharge such employees as, in the sole judgment of the Manager, may deem necessary or advisable.
General Duties and Authority. METROPOLITAN shall provide receivable acquisition services to OLD STANDARD which shall be performed substantially in compliance with the following: a. METROPOLITAN shall secure opportunities for OLD STANDARD to purchase receivables through the use of METROPOLITAN's branch office system, industry contacts and the other methods developed by METROPOLITAN for its own receivable purchases.
General Duties and Authority. METROPOLITAN shall provide receivable acquisition services to ARIZONA LIFE which shall be performed substantially in compliance with the following: a. METROPOLITAN shall secure opportunities for ARIZONA LIFE to purchase receivables through the use of METROPOLITAN's branch office system, industry contacts and the other methods developed by METROPOLITAN for its own receivable purchases. b. In reviewing the receivables offered to ARIZONA LIFE, METROPOLITAN shall review, among other things, the receivable loan to value ratio, security value, security condition, payment record, payor's credit, collateral title reports and legal documents, taking into account the investment guidelines provided by ARIZONA LIFE.
General Duties and Authority. Manager shall have the sole and exclusive duty and authority to fully manage the Property and supervise and direct the business and affairs
General Duties and Authority. Subject only to the restrictions, limitations and covenants provided in Paragraphs 2.2, 2.3 and 2.4 of this Section II and the right of the Partnership to terminate this Agreement as provided in Section VI hereof, CSM shall have the sole and exclusive authority to fully and completely supervise the Properties and supervise and direct the business and affairs associated with or related to the daily operations thereof and, to that end, to cause or direct the Partnership to execute such documents or instruments and hire or discharge such employees as, in the reasonable judgment of CSM, may be deemed necessary or advisable. Such duties and authorities shall include, but not be limited to, the following:
(a) Renting of the Properties. CSM shall establish policies and procedures for directing the marketing activities of Partnership employees. CSM shall have the sole discretion, which discretion shall be exercised in good faith and consistent with reasonable business practices in the locality where each property is situated, to establish the terms and conditions of occupancy by the lessees of rental units in Properties. CSM is hereby authorized to direct and control Partnership employees in entering into rental agreements on behalf of, in the name of and for the account of the Partnership with such lessees and in collecting rent from such lessees. CSM shall cause the Partnership to advertise in such media and to the extent it deems necessary and appropriate.
General Duties and Authority. METROPOLITAN shall provide services related to Receivables acquisition, underwriting and sales services to INVESTOR which shall be performed substantially in compliance with the following:
a. METROPOLITAN shall secure opportunities for INVESTOR to purchase and sell Receivables through the use of METROPOLITAN'S acquisition system, industry contacts and the other methods developed by METROPOLITAN for its own Receivable purchases.
b. In reviewing the Receivables offered for purchase to, or for sale from, INVESTOR, METROPOLITAN shall review, among other things, the Receivables loan to value ratio, collateral value, collateral condition, payment record, payor's credit, title reports and legal documents, taking into account the investment guidelines provided by INVESTOR.
c. METROPOLITAN or its agent shall close the Receivables acquisition or sale in a manner that is consistent with industry standards for the type of Receivables and the location where the Receivables acquisition or sale is closed. Management, Receivables Acquisition Agreement METROPOLITAN/OSL. -1-
d. METROPOLITAN shall originate all Receivables on behalf of and in the name of INVESTOR.
e. INVESTOR shall allow METROPOLITAN to use funds from INVESTOR's bank account solely for the purpose of acquiring Receivables under this Agreement. METROPOLITAN shall also place all funds received from the sale of INVESTOR Receivables into INVESTOR's bank account. INVESTOR and METROPOLITAN funds shall not be commingled. Only METROPOLITAN employees duly authorized in writing, by both METROPOLITAN and INVESTOR, shall have access to the INVESTOR bank account for purposes of this Agreement.
f. METROPOLITAN shall prepare and maintain such books, records, computer systems and procedures as shall be necessary to pursue offers for the purchase or sale of Receivables and as necessary to execute the purchase or sale of Receivables.
g. METROPOLITAN shall furnish to INVESTOR such periodic, special or other reports or information as requested by INVESTOR including reports of total Receivables purchased and sold, closing periods and closing costs. All such reports, documents or information shall be provided in accordance with all reasonable instructions and directions which INVESTOR may give.
h. INVESTOR shall have ultimate control and responsibility of the functions it has delegated to METROPOLITAN under this Agreement.
General Duties and Authority. In connection with its specific duties, Company agrees to:
(i) Take all precautions necessary for safely and prudently conducting the Services required by this Agreement, including maintaining insurance as required by Part V hereof.
(ii) Advise the Authority of the status of the Services required by this Agreement on a regular basis and work in coordination with the Authority’s consultants to assure that the Authority has the most complete information available for the exercise of the Authority’s powers and discretionary authority.
(iii) Refrain from entering any contract, oral or written, in the name of the Authority, and from incurring any debt, liability or obligation for or on behalf of the Authority. All obligations incurred by Company shall be obligations of Company which shall hold the Authority harmless therefrom.
