Common use of Officers and Employees Clause in Contracts

Officers and Employees. (a) Both PEDCO Manager and MIE Managers are entitled to nominate corporate officers of CONDOR, subject to approval by the Board. Any officer so expressly designated shall have such authority and perform such duties as the Board may, from time to time, delegate to such officer. (b) Subject to the approval rights described herein, the business and affairs of CONDOR shall be managed exclusively under the direction of the Board, by or under the direction of one or more officers pursuant to expressly delegated authority from the Board. The power to act for or to bind CONDOR shall be vested exclusively in such officers of CONDOR, subject to the Board’s authority to delegate powers and duties to officers, as set forth herein. Subject to the foregoing, the officers shall have the power and authority to execute and deliver contracts, instruments, filings, notices, certificates, and other documents of whatsoever nature on behalf of CONDOR. The officers of CONDOR shall have power and authority, as expressly delegated to them by the Board of Managers of CONDOR to cause CONDOR to hire employees, including officers appointed by the Board of Managers, as such officers deem necessary and to cause CONDOR to pay such employees as such officers deem fit, in their reasonable discretion.

Officers and Employees. (a) Both PEDCO Manager and MIE MIEJ Managers are entitled to nominate corporate officers of CONDORthe Company, subject to approval by the Board. Any officer so expressly designated shall have such authority and perform such duties as the Board may, from time to time, delegate to such officer. (b) Subject to the approval rights described herein, the business and affairs of CONDOR the Company shall be managed exclusively under the direction of the Board, by or under the direction of one or more officers pursuant to expressly delegated authority from the Board. The power to act for or to bind CONDOR the Company shall be vested exclusively in such officers of CONDORthe Company, subject to the Board’s authority to delegate powers and duties to officers, as set forth herein. Subject to the foregoing, the officers shall have the power and authority to execute and deliver contracts, instruments, filings, notices, certificates, and other documents of whatsoever nature on behalf of CONDORthe Company. The officers of CONDOR the Company shall have power and authority, as expressly delegated to them by the Board of Managers of CONDOR the Company to cause CONDOR the Company to hire employees, including officers appointed by the Board of Managers, as such officers deem necessary and to cause CONDOR the Company to pay such employees as such officers deem fit, in their reasonable discretion.

Officers and Employees. (a) Both the PEDCO Managers and the STXRA Manager and MIE Managers are entitled to nominate corporate officers of CONDORthe Company, subject to approval by the Board. Any officer so expressly designated shall have such authority and perform such duties as the Board may, from time to time, delegate to such officer. (b) Subject to the approval rights described herein, the business and affairs of CONDOR the Company shall be managed exclusively under the direction of the Board, by or under the direction of one or more officers pursuant to expressly delegated authority from the Board. The power to act for or to bind CONDOR the Company shall be vested exclusively in such officers of CONDORthe Company, subject to the Board’s authority to delegate powers and duties to officers, as set forth herein. Subject to the foregoing, the officers shall have the power and authority to execute and deliver contracts, instruments, filings, notices, certificates, and other documents of whatsoever nature on behalf of CONDORthe Company. The officers of CONDOR the Company shall have power and authority, as expressly delegated to them by the Board of Managers of CONDOR the Company to cause CONDOR the Company to hire employees, including officers appointed by the Board of Managers, as such officers deem necessary and to cause CONDOR the Company to pay such employees as such officers deem fit, in their reasonable discretion.