Common use of Competent Management Clause in Contracts

Competent Management. LESSEE shall provide competent management of the Allowed Uses to CITY’s reasonable satisfaction. "Competent management" shall mean management practices generally considered acceptable within LESSEE’s industry for the management and operation of activities substantially similar to the Allowed Uses and in compliance with all laws, rules and regulations of competent governmental authority, and in a fiscally responsible manner. “Fiscally responsible manner” shall mean in accordance with generally accepted accounting principles consistently applied and absent financial malfeasance.

Competent Management. LESSEE shall provide competent management of the Allowed Uses to CITY’s 's reasonable satisfaction. "Competent management" shall mean management practices generally considered acceptable within LESSEE’s 's industry for the management and operation of activities substantially similar to the Allowed Uses and in compliance with all applicable local, state and federal laws, rules and regulations of competent governmental authorityregulations, and in a fiscally responsible manner. “"Fiscally responsible manner” " shall mean in accordance with generally accepted accounting principles consistently applied and absent financial malfeasance.