Managing Venturer. Mieka shall be the Managing Venturer of the Joint Venture, and the address of such Managing Venturer is the address of Mieka as designated above.
Managing Venturer. Although Mieka shall be the initial Managing Venturer of the Joint Venture, the Joint Venture and all of its affairs, property, business, and Operations shall be managed and controlled by the Venturers. Subject to a contrary Vote, the Venturers expressly delegate management of the day-to-day Operations of the Joint Venture to the Managing Venturer.
Managing Venturer. ABC, the small business participant, is the Managing Venturer of the Joint Venture.
Managing Venturer. TransCoastal shall be the Managing Venturer of the Joint Venture, and the address of such Managing Venturer is the address of TransCoastal as designated above.
Managing Venturer. TransCoastal shall be the Managing Venturer of the Joint Venture. The Joint Venture and all of its affairs, property, business, and Operations shall be managed and controlled by a majority of the Venturers. The Venturers expressly delegate management of the day-to-day Operations of the Joint Venture to the Managing Venturer. It is agreed by the Venturers that the officers of the Managing Member shall also be officers of the Joint Venture.
Managing Venturer the 8(a) participant, is the Managing Venturer of the Joint Venture.
Managing Venturer. Cycurion is the Managing Venturer of the Joint Venture.
Managing Venturer. From the date of this Addendum, Transeastern shall be the Managing Venturer, and in such capacity shall have the following responsibilities and all authority necessary to the performance of such responsibilities:
(a) Approval of any material modification to the approved Business Plan including, without limitation, any material modification to the Budget or Cash Flow Analysis and any other component thereof;
(b) Approval of modifications to the layout or facade of houses, adjustments to lot sizes, adjustments to selling prices and incurring of expenditures not contemplated by the Budget but which do result in increasing the Budget by more than ten percent (10%) shall not be deemed material modifications;
(c) To authorize the Venture to enter into an Approved Mortgage or any other financing arrangements, whether or not secured by any portion of the Property and whether or not with or without recourse to the assets of the Venture, including routine equipment leases or other installment obligations that are substantially consistent with the Business Plan, including the Budget and Cash Flow Analysis;
(d) To authorize any transaction, not expressly authorized herein, between the Venture and a Venturer or any Affiliate of a Venturer. Provided, however, that any such material transactions which provide for the payment of compensation in excess of amounts which could be reasonably negotiated at arms length with qualified non-affiliated third parties for the performance of such services will require approval of all Venturers;
(e) To authorize the Venture to enter into a joint venture or similar arrangement with third parties for the purpose of developing any portion of the Property or for any other purpose; and
(f) To authorize an expansion or restriction of the authority of the Project Manager to act with respect to any matter concerning the Venture. All power and authority of the Venture not expressly delegated herein to the Venturers shall be vested in the Managing Venturer. For purposes of the foregoing, any reference in this Agreement to an act, approval, consent or other event occurring "by the Venturers," "from the Venturers," "in the Venturers" or "of the Venturers" shall mean by unanimous consent of the Venturers.
Managing Venturer. The day to day business affairs of the Venture ------------------ shall be managed by the Managing Venturer. Joe Carter shall serve as thx Xxxxxxxx Venturer of the Venture, and accordingly, shall implement or cause to be implemented the decisions approved by the Board and the Venturers, and otherwise administer the day-to-day affairs of the Venture, pursuant to the terms and conditions of an Administrative Management Agreement (the "Management Agreement"), to be entered into by the Venture and Joe Carter, wherein he will bx xxxx xxx his management services in accordance with a provision for a yearly consulting fee (inclusive of his costs) of $120,000 and an incentive compensation plan to be shared with the Marketing Manager of up to 10% of the Net Income of the Joint Venture operations.
Managing Venturer. The day-to-day business of the Venture will be ----------------- managed by a Managing Venturer who will initially be NGP. Subject to the restrictions of Section 9.2, the Managing Venturer will without compensation or reimbursement for its internal overhead provide proper management of the affairs of the Venture and shall have the management and control of the day-to-day activities of the Venture and the authority and responsibility to represent it. Without limiting the generality of the foregoing, the Managing Venturer shall maintain or cause to be maintained the books and records of the Venture, prepare or cause to be prepared the Venture's income tax returns and act as the "tax matters partner" for the Venture as provided in Section 6221 of the Code, subject to the limitations set forth in Section 9.2(1). The Venture will be responsible to pay all reasonable and necessary third party costs incurred by the Managing Venturer in good faith in connection with the discharge of its management duties, such as fees and costs of attorneys, accountants and other consultants. The Managing Venturer shall deposit all Venture funds in an interest bearing bank account in the name of the Venture at Bank of America or any other bank with at least $1 billion in assets and shall not commingle the Venture's funds with any other funds. The Managing Venturer will make distributions monthly to the Venturers in accordance with Section 11.
