JOINT VENTURE DECISIONS Clause Samples
The "Joint Venture Decisions" clause defines the process and authority for making key decisions within a joint venture arrangement. Typically, it outlines which matters require unanimous consent of the joint venture partners, such as major investments, changes to the business plan, or dissolution of the venture, while allowing day-to-day operational decisions to be made by designated managers or committees. This clause ensures that all partners have a say in significant actions, thereby protecting their interests and preventing unilateral decisions that could impact the venture's direction or value.
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JOINT VENTURE DECISIONS. All decisions, including but not limited to purchase of assets by the joint venture, any loan or other obligation to be undertaken by the joint venture, and sale of any asset of the joint venture, shall require the approval of all of the partners.
JOINT VENTURE DECISIONS. All decisions, including, but not limited to, purchase of assets by the Joint Venture, any loan or other obligation to be undertaken by the JVA, and the sale of any asset of the Joint Venture, shall require the approval of both REALEZA and ABC.
JOINT VENTURE DECISIONS. Other than as specifically set forth herein, all decisions regarding the operation of GCTLO will be made by the GCTLO managers.