Common use of Permitted Business Clause in Contracts

Permitted Business. The business of the Company shall be: (a) To invest in Propco by acquiring Propco Units from Wasco Manufacturing, Inc., a Georgia corporation, and making a capital contribution to Propco, and to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary, customary, convenient or incidentalthereto; (b) In the event the Investment Proposal is selected under Article XIII hereof, then to cause Propco to invest in, hold, sell, use, and operate the Real Property, and to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary, customary, convenient or incidental thereto; (c) In the event the Development Proposal is selected under Article XIII hereof, then to cause Propco to invest in, hold, improve, develop, sell, use, and operate the Real Property, and to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary, customary, convenient or incidental thereto; (d) In the event the Conservation Proposal is selected under Article XIII hereof, then to cause Propco to promote conservation through the grant, in perpetuity, of a conservation easement to a qualified organization, as that term is used in Section 170 of the Code, on all or a portion of the Real Property, and to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary customary, convenient or incidental thereto, subject to the terms and conditions of the conservation easement, which may include using the Real Property for passive recreation, wildlife management, timber management, hunting and other uses as permitted under the Conservation Strategy and Conservation Proposal. (e) Until such time as either the Investment Proposal, Development Proposal, or the Conservation Proposal is selected, to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary, customary, convenient or incidental to the selection process described in Article XIII hereof; (f) To invest in other marketable and private securities and to engage in any and all activities and transactions and enter into any and all agreements and undertakings which are appropriate, necessary, customary, convenient or incidental thereto; (g) To, subject to the terms of this Operating Agreement, engage in any other lawful act or activity to which a Majority Interest consents in writing.