Duties of the Management Committee. The Management Committee shall be responsible for:
Duties of the Management Committee. The Management Committee shall cause the Company to take the following action:
Duties of the Management Committee. The Management Committee shall be responsible for directing the business and affairs of the Joint Venture in accordance with the provisions of this Agreement, and without limiting the generality of the foregoing, the Management Committee shall perform this duty by:
Duties of the Management Committee. The Members of the Management Committee agree that they will diligently and faithfully devote such time to the business of the Partnership in the management, supervision, and administration of the business and operations of the Partnership in accordance with the applicable law as may be required to carry out the purposes of the Partnership.
Duties of the Management Committee. The Management Committee shall cause the Company to take the following action: (i) at all times cause to be done all things necessary to maintain, preserve and renew its existence and all material licenses, authorizations and permits necessary to the conduct of its businesses; (ii) maintain and keep its properties in good repair, working order and condition, and from time to time make all necessary or desirable repairs, renewals and replacements, so that its businesses may be properly and advantageously conducted at all times; (iii) pay and discharge when payable all taxes, assessments and governmental charges imposed upon its properties or upon the income or profits therefrom (in each case before the same becomes delinquent and before penalties accrue thereon) and all claims for labor, materials or supplies which if unpaid would by law become a lien upon any Company assets, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and adequate reserves (as determined in accordance with GAAP) have been established on its books with respect thereto; (iv) comply with all other material obligations which the Company incurs pursuant to any contract or agreement, whether oral or written, express or implied, as such obligations become due to the extent to which the failure to so comply would reasonably be expected to have a Material Adverse Effect, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and adequate reserves (as determined in accordance with GAAP) have been established on its books with respect thereto; (v) comply with all applicable laws, rules and regulations of all governmental authorities, the violation of which would reasonably be expected to have a Material Adverse Effect; (vi) apply for and continue in force with good and responsible insurance companies adequate insurance covering risks of such types and in such amounts as are consistent with past practice and are customary for well-insured corporations of similar size engaged in similar lines of business; and (vii) maintain proper books of record and account which fairly present its financial condition and results of operations and make provisions on its financial statements for all such proper reserves as in each case are required in accordance with GAAP. 17 5.4
Duties of the Management Committee. Except for day to day operations delegated to the Operating Manager as set forth in Section 3.2, e., and matters set forth in Section 3.2, c., (2) which require unanimous consent of the Members, the Management Committee shall be delegated by the Members the authority to make all “Major Decisions,” as defined herein.
Duties of the Management Committee. The duties of the Management Committee include, but are not limited to: ensuring the effective and efficient operation and administration of the Company when it is appropriate to task such matters to a committee.
