Common use of Obligations of the Managers Clause in Contracts

Obligations of the Managers. Except as may be otherwise provided herein, the Managers shall be obligated to: 7.5.1 Exercise their management powers in order to carry out the purposes of the Company on a commercially reasonable basis; 7.5.2 Devote such of its time and business efforts to the business of the Company as it shall in its discretion, exercised in good faith, determine to be necessary to conduct the business of the Company on a commercially reasonable basis; 7.5.3 Keep all bank and other accounts and records in the name of the Company; and 7.5.4 File and publish all certificates, statements, or other instruments required by law for the formation, qualification and operation of the Company and for the conduct of its business in all appropriate jurisdictions.

Obligations of the Managers. Except as may be otherwise provided herein, the Managers shall be obligated to: 7.5.1 Exercise their its management powers in order to carry out the purposes of the Company on a commercially reasonable basis; 7.5.2 Devote such of its time and business efforts to the business of the Company as it shall in its discretion, exercised in good faith, determine to be necessary to conduct the business of the Company on a commercially reasonable basis; 7.5.3 Keep all bank and other accounts and records in the name of the Company; and; 7.5.4 File and publish all certificates, statements, or other instruments required by law for the formation, qualification and operation of the Company and for the conduct of its business in all appropriate jurisdictions; and 7.5.5 Implement the Major Decisions approved by the Members.