OBLIGATIONS OF THE JOINT VENTURERS. 3.01 The Designated Officers or Representatives of each Party shall be jointly responsible for all operations and decisions of the JV, which shall require the agreement of all Parties to be binding upon the JV.
OBLIGATIONS OF THE JOINT VENTURERS. Xxxxxx Xxxxx, as a representative of POG, and Xxxxx Xxxx, as a representative of LMG, are equally responsible for all operations of the Joint Venture and will be compensated for providing various services. However, Xxxxx Xxxx, a representative of LMG will act as the general manager and have final authority over all decisions.
OBLIGATIONS OF THE JOINT VENTURERS. Visitel and COA shall be jointly responsible for all obligations of the Joint Venture.
OBLIGATIONS OF THE JOINT VENTURERS. In connection with the funding and operation of CiaoHub and the Business, in addition to any other responsibilities specifically set forth herein, Ciao will have the following responsibilities on a best efforts basis (with no guarantee or certainty of success): · Forming CiaoHub as soon as reasonably possible. · Trying to obtain initial debt financing for CiaoHub (the “Initial Debt Financing”) on the most favorable terms possible. Ciao and SinoHub understand that CiaoHub’s assets including, but not limited to accounts receivable, may be needed to secure the Initial Debt Financing and subsequent financing as well. Ciao will attempt to obtain Initial Debt Financing that will not require any principal payments for the first two years following the closing of such debt financing (the “Financing Closing Date”). SinoHub shall assist in such fund-raising efforts by jointly preparing a business plan with Ciao to be used in connection with such efforts. · Obtaining a bank line or bank lines to fund accounts receivable at competitive interest rates and with competitive terms. · Obtaining land on which to build a factory located in Brazil to be used to manufacture mobile communications equipment which land must be obtained by a grant of the Brazilian government or any subdivision thereof (Ciao shall not be held in default of this Agreement if its best efforts fail to obtain such a land grant and the Joint Venturers will discuss whether to jointly purchase land at the lowest cost possible if no land grant is obtained). · Obtaining all required government permits for the construction and operation of the Factory and any available subsidies or tax breaks relating to the construction and operation of the Factory and generally serving as liaison to the Brazilian government and any subdivisions thereof with respect to the Joint Venture. Ciao’s responsibilities hereunder shall also include, without limitation, the preparation and filing of any reports required by such governmental entities. · Organizing and completing the construction of the Factory. The Joint Venturers agree that the Factory will be modeled after the factory operated by SinoHub in Shenzhen China and SinoHub will provide reasonable access to said factory to any architects or contractors engaged by CiaoHub to build the Factory. The actual costs of constructing the Factory shall be paid from the funds raised for CiaoHub and neither Joint Venturer shall be personally liable for the costs of construction. · Dev...
OBLIGATIONS OF THE JOINT VENTURERS. 3.01 ISBG is responsible for the financial decisions of the Joint Venture and will be compensated for providing various services. PHH is responsible for the operational decisions of the Joint Venture and will be compensated for providing various services.
OBLIGATIONS OF THE JOINT VENTURERS. Avra Inc. is responsible for all operational decisions of the Joint Venture, Mango Pay will be responsible for the day-to-day caretaking of the machines and all the operational requirements including integrations and programming requirements. Specifically:
OBLIGATIONS OF THE JOINT VENTURERS is responsible for all operations and decisions of the Joint Venture and will be compensated for providing various services.
OBLIGATIONS OF THE JOINT VENTURERS
