Board of Managers Authorities. The Board of Managers shall have the broadest possible authorities and powers to manage the Company, which include the following, unless such authorities or powers are reserved for the Shareholders under an operative enactment, or provision in these articles or the shareholders agreement. • Representing and managing the Company with full authorities to handle the Company’s affairs and shall have the authority to represent the Company in its relations with third parties, whether corporate or otherwise, and all judicial governmental and nongovernmental bodies. • Representing the Company before banking and financial institutions, and all types of companies and organizations and to obtain loans to achieve the Company’s objectives. • Xxxxxxx claims, allegations and law suits on behalf of the Company in courts, as defendant or plaintiff. Attending court meetings, interviewing witnesses, settling claims, receiving the Company’s entitlements, and arranging for the settlement of the Company’s debts. • Appointing agents and attorneys for the Company and providing them with the necessary authorities to defend the Company, raise claims, and request the entitlements of the Company. • Signing all contracts and agreements, on behalf of the Company including, but not limited to, leases, partnerships, company formation, mergers, liquidation, amendments. Signing Shareholders resolutions for the formation of branches, appointing manager and signing such documents before the notary public and the Ministry of Commerce & Industry and SAGIA. • Follow up with Ministry of Commerce & Industry, Municipality, Ministry of Foreign Affairs, Passport Department, Saudi Communications, Ministry of Water & Electricity, Saudi Industrial Development Fund, the General Investment Authority and signing necessary forms and applications before authorized officers at such governmental agencies. • Purchasing and selling Shares and attending Meetings of Boards of managers, general assemblies of other companies in which the Company is a Shareholder whether inside or outside the Kingdom and fully representing the Company in such companies. • Xxxxxxx and purchasing, transferring of real estate, accepting and receiving values, amending title documents, requesting amendments to limits of land and real estates, and mortgaging lands and fixed assets necessary to promote the Company’s business. • Preparing periodical reports, submitting recommendations to Shareholders general assembly to improve the Company’...
