Management of Joint Venture. Xxxxxx X. Xxxxxxxx and Xxxxx Xxxxxxx shall be the initial managers of the Joint Venture and shall manage the day-to-day operations of the Joint Venture.
Management of Joint Venture. The business and affairs of the Joint Venture shall be managed by a committee (the “Executive Committee”) consisting of five (5) members appointed by the Joint Venturers. Outback shall name two (2) members of the committee, Roy’s shall name two (2) members of the committee, and the fifth member (the “Wise Man”) shall be named jointly by Outback and Roy’s. The Wise Man must be (i) independent and not employed by or have any ownership interest in or licensing or franchise relationship with either Joint Venturer (or its Affiliates), and (ii) possess not less than ten (10) years of full-time executive level management experience in one or more casual, fine dining restaurants having at least ten (10) stores under his or her control or such other qualifications as Outback and Roy’s may agree. Each individual named to the Executive Committee will serve as a member of the Executive Committee until his or her death, withdrawal or expulsion from the Executive Committee, or until his or her removal from the Executive Committee by the Joint Venturer who appointed him or her or in the case of the Wise Man, by the majority vote or consent of the Joint Venturers. All decisions as to the day to day operations of the Joint Venture shall be made by a President hired by the majority agreement of the Executive Committee, provided, that the President shall not, without the majority consent of all of the members of the Executive Committee:
(1) Confess a judgment against the Joint Venture;
(2) Admit any person as a Joint Venturer;
(3) Execute or deliver any assignment for the benefit of the creditors of the Joint Venture;
(4) Enter into any lease of real or personal property;
(5) Enter into any loan transaction or incur any indebtedness of the Joint Venture in excess of $25,000;
(6) Open any Restaurant;
(7) Purchase any real property;
(8) Fire Xxxxxx Xxxxxxx (Corporate Chef), Xxxxxxxxx Xxxxxxxxx (Operations Director), Xxxxxx Xxxxxxxx (Wine and Beverage Director), or hire/fire their respective successors; and
(9) Such other matter(s) as may be mutually agreed upon by the parties.
Management of Joint Venture. Xx. Xxxxxx X.
Management of Joint Venture. The representatives of the Joint Venturers shall meet from time to time as required to act on necessary matter pertainings to the Construction contract. All decisions, commitments, agreements, undertakings, understandings, or other matters pertaining to the performance of the Construction Contract shall be mutually agreed upon by such representatives. No representative shall be liable to the Joint Venturers by reason of his acts as such, except in the case of its gross negligence or actual fraudulent or dishonest conduct. In the event the representatives cannot agree on a matter of Joint Venture policy, the matter shall be submitted to informal, but binding, arbitration to a mutually acceptable third party. If the Joint Venturers cannot agree on an arbitrator, then the matter shall be resolved by binding commercial arbitration as provided in Article (42) below.
Management of Joint Venture. 4.1 General The affairs of the Joint Venture shall be directed, controlled and managed by the Management Committee, which, within the terms of the Agreement and the Contract, shall have full authority to bind the Members in all matters relating to the affairs of the Joint Venture. Communication between the Joint Venture and the Employer, or third parties, relating to the Contract shall be conducted exclusively by the Management Committee, or by such person as it may delegate to perform this function. The Management Committee shall have the power to appoint a project manager and/or such other persons as it may see fit to appoint for the purpose of executing the Contract and may delegate such of its powers, responsibilities and duties as it may consider necessary, or desirable, to persons or bodies appointed or seconded for this purpose. Such administrative functions as are necessary to ensure the effective operation of the Management Committee shall be performed by its chairman.
Management of Joint Venture. The business and affairs of the Joint Venture shall be managed by a committee (the "Executive Committee") consisting of five (5) members appointed by the Joint Venturers. Outback shall name two (2) members of the committee, Roy's shall name two (2) members of the committee, and the fifth member (the "Wise Man") shall be named jointly by Outback and Roy's. The Wise Man must be (i) independent and not employed by or have any ownership interest in or licensing or franchise relationship with either Joint Venturer (or its Affiliates), and (ii) possess not less than ten (10) years of full-time
Management of Joint Venture. (a) The Joint Venture shall have a management committee. The Committee shall have management and control of Joint Venture activities and all other matters affecting the Joint Venture.
(b) The Committee shall set programs and budgets and the Manager shall be subject to the overall control and direction of the Committee.
Management of Joint Venture. The overall management and control of the business and affairs of, and the authority to make all decisions affecting the Joint Venture shall at all times be vested in the Venturers, but the implementation of such management, control and decisions, except as otherwise herein provided, shall be in the Managing Venturer (which term, as used herein, shall be deemed to mean Xxxx Systems, Inc. until a new Managing Venturer shall be appointed pursuant to Section 2.03 herein below) and may be exercised by the said Managing Venturer to act in his behalf. The Managing Venturer shall be responsible for the implementation of the decisions of the Venturers and for conducting the ordinary and usual business and affairs to the Joint Venture. Without in any way limiting the generality of the foregoing, the following Joint Venture matters shall be effectuated only after the complete concurrence of one hundred percent (100%) shall first have been received by the Managing Venturer:
1. Borrowing any sum of money in excess of Five Thousand and No/100 Dollars ($5,000.00);
2. Determining when and whether distributions should be made to the Venturers, as more fully set forth in Section 5.03. hereof;
3. Making any expenditure or incurring any obligation by or of the Joint Venture in excess of Five Thousand and No/100 Dollars ($5,000.00);
4. Determining the maximum and minimum working capital requirements of the Joint Venture;
5. Maintaining all funds of the Joint Venture in a Joint Venture account in such banks selected by the Venturers;
6. Selling, transferring or assigning all or any part of the Interest and/or any other substantial Joint Venture assets, distributing the proceeds therefrom and, if then appropriate, terminating the Joint Venture in accordance with the Article VI herein below.
Management of Joint Venture. The day-to-day operations of the Joint Venture will be overseen and managed by The Manager. Xxxxxxx, in his capacity as an independent contractor, shall be and is hereby engaged as The Manager. The terms of the Manager’s engagement and the scope of his authority may, at the option of the Joint Venture and the Manager be set forth in a formal management consulting agreement (“Management Agreement.”) Except to the extent set forth in a Management Agreement, the Manager will receive no compensation for his services as such.
Management of Joint Venture. 4.1 General The affairs of the Joint Venture shall be directed, controlled and managed by the Management Committee, which, within the terms of the Agreement and the Contract, shall have full authority to bind the Members in all matters relating to the affairs of the Joint Venture. March, 2004: Edition 1 of CIDB document 1017 Page 4 CIDB Joint Venture Agreement5 Communication between the Joint Venture and the Employer, or third parties, relating to the Contract shall be conducted exclusively by the Management Committee, or by such person as it may delegate to perform this function. The Management Committee shall have the power to appoint a project manager and/or such other persons as it may see fit to appoint for the purpose of executing the Contract and may delegate such of its powers, responsibilities and duties as it may consider necessary, or desirable, to persons or bodies appointed or seconded for this purpose. Such administrative functions as are necessary to ensure the effective operation of the Management Committee shall be performed by its chairman.
