Designation of Operating Manager Sample Clauses

Designation of Operating Manager. (a) ESPC is hereby designated and agrees to serve as Operating Manager of the Pipeline. Notwithstanding the foregoing, the Joint Venturers have entered into an agreement between the Joint Venture and ANR Pipeline Company ("ANR"), an Affiliate of ESPC, pursuant to which ANR has assumed the duties and obligations of Operating Manager hereunder for the term set forth in such agreement. (b) The Joint Venturers (other than the Joint Venturers who are Affiliates of the Operating Manager) may vote to remove the Operating Manager for good cause; provided, that such Joint Venturers (or any of them) shall have given at least sixty (60) days' notice to the Operating Manager of the action contemplated by such Joint Venturer or Joint Venturers, together with the reasons therefor, and the Operating Manager shall not have rectified or cured, to the satisfaction of such Joint Venturer or Joint Venturers, the acts or omissions specified by such Joint Venturer or Joint Venturers. The Management Committee shall select a replacement Operating Manager to become effective upon the removal of any Operating Manager.
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Related to Designation of Operating Manager

  • Statement of Operations Statement of Changes in Net Assets.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • TRANSFER OF OPERATIONS Purchaser shall be entitled to immediate possession of, and to exercise all rights arising under, the Assets from and after the time that the Restaurants open for business on the Closing Date, and operation of the Restaurants shall transfer at such time (the "Effective Time"). Except as expressly provided in this Agreement, all profits, losses, liabilities, claims, or injuries arising before the Effective Time shall be solely to the benefit or the risk of Seller. All such occurrences after the Effective Time shall be solely to the benefit or the risk of Purchaser. The risk of loss or damage by fire, storm, flood, theft, or other casualty or cause shall be in all respects upon Seller prior to the Effective Time and upon the Purchaser thereafter.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.