Common Management Clause Samples
The Common Management clause establishes a unified approach to overseeing and coordinating certain activities or resources shared between parties. Typically, this clause outlines how joint decisions will be made, who will be responsible for day-to-day management, and the procedures for resolving disagreements regarding shared operations or assets. Its core function is to ensure efficient and consistent management, reducing the risk of conflict or duplication of effort by providing clear governance over common interests.
Common Management. The parties acknowledge and agree that certain senior executives of the Company may be employees, officers or directors of both the Company and RMR. Each party shall be solely responsible for payment of compensation to such senior executives for services rendered to or on behalf of such party and the payment by the Company for services by senior executives who are also senior executives of RMR shall be approved by majority vote of the Independent Directors of the Compensation Committee of the Board of Directors of the Company.
Common Management. Trustee may hold the corpus of the separate trusts, or any portion of them, in a common fund, or may purchase property for a common fund with assets of the separate trust (the separate trusts having undivided interests in such common fund) if more convenient to do so, until actual division becomes necessary in order to make distribution, provided that no such holding shall defer the vesting of any estate.