General Management Structure Clause Samples

General Management Structure. Unless specifically provided otherwise herein, all decisions and actions concerning the Company and its affairs, and all matters requiring the consent or approval of the Members under this Agreement, shall be made or taken upon concurrence of a Majority in Interest of the Members. The Members shall devote such time and effort as is necessary for the management of the Company and the conduct of its business, but shall not be required to devote their full time efforts to the Company. Any party dealing with the Company shall be permitted to rely absolutely on the signature of any Member as binding on the Company, without any duty of further inquiry regarding any approval of the Members required under this Agreement.

General Management Structure. 9.1.1 The major policies of the Partnership shall be established by the Management Committee, which, except as otherwise provided in this Agreement, shall have exclusive authority with respect to managing the affairs of the Partnership, including supervising the management of the affairs of the Partnership by the Operator and reviewing the Operator’s performance of its management duties. No General Partner, except as specified in the Operating Agreement, shall have authority to act for, or assume any obligation or responsibility on behalf of, the Partnership without the prior written approval of the Management Committee, and no Limited Partner shall have any authority whatsoever to act for, or assume any obligation or responsibility on behalf of, the Partnership. 9.1.2 The day-to-day management of the affairs of the Partnership, including maintenance of the financial and other records and books of account of the Partnership, supervision and construction of the Facilities, and activities reasonably related thereto, shall be the responsibility of the Operator, whose performance of such duties shall be subject to supervision and review by the Management Committee. 9.1.3 The Partnership is the sole shareholder of the share(s) of the Operator. So long as the Partnership continues to be the sole shareholder of the share(s) of the Operator, (i) each Partner shall nominate one Director of the Operator and the Partnership shall vote the share(s) of the Operator so as to elect the Directors so nominated; (ii) the Chairman of the Partnership Management Committee shall be the Chairman of the Board of Directors of the Operator; (iii) in the event of the resignation or removal of a Director nominated by a Partner, the Partnership shall vote the share(s) of the Operator so as to elect a new Director nominated by such Partner; and (iv) the affirmative vote of Partners representing 85% or more of the total Percentage Interests of the Partners shall be required to vote the share(s) of the Operator with respect to all other matters.

General Management Structure. 8.1.1 The major policies of the Partnership shall be established by the Management Committee which, except as otherwise provided in this Amendment and Restatement, shall have exclusive authority with respect to such affairs of the Partnership as would (if the Partnership were a corporation) be subject to control by a corporate board of directors. 8.1.2 The day to day management of the affairs of the Partnership, including supervision of the construction of the Project (including the Incremental Facilities) and any Expansion Project and operation of the Line, and activities reasonably related thereto, shall be the responsibility of the Operator.

General Management Structure. 7.1.1 The management policies of the Partnership shall be established by the Management Committee in accordance with this Agreement which, except as otherwise provided in this Agreement, shall have exclusive authority with respect to the affairs of the Partnership. Except as specified in the Operating Agreement, no Partner shall have authority to act for, or assume any obligation or responsibility on behalf of, the Partnership without the prior written approval of the Management Committee. 7.1.2 The day to day management of the affairs of the Partnership, including maintenance of the financial and other records and books of account of the Partnership, supervision of construction of the Facilities, and activities reasonably related thereto, shall be subject to the supervision of the Management Committee. The Management Committee may delegate to such Persons as it determines to be appropriate, which Persons may be Partners or Affiliates of Partners, such responsibility for the management of the Partnership as it determines to be appropriate from time to time.