Joint Venture Management Clause Samples
The Joint Venture Management clause defines how the joint venture will be governed and operated by the parties involved. It typically outlines the structure of the management committee or board, the decision-making process, and the roles and responsibilities of each party in overseeing the venture’s activities. For example, it may specify voting rights, appointment of key personnel, and procedures for resolving disputes within the management body. This clause ensures clear governance and accountability, helping to prevent misunderstandings and disputes over control and operational decisions in the joint venture.
Joint Venture Management. The Managing Venturer shall act as the agent of the Joint Venture as sole Manager and in such capacity shall perform for the Joint Venture all services customarily performed by a managing venturer of a joint venture engaged in the activity to be undertaken by the Joint Venture.
Joint Venture Management. The day-to-day operations of the Joint Venture shall be run by a management team employed by, and dedicated to, SG under the management and direction of the SG Board. Such management team shall be headed by a president (the "JV President") who shall initially be determined. The balance of the management team, and the personnel filling management positions, shall be determined from time to time by the JV President under the supervision of the SG Board. The management of the SG shall have such authority as the SG Board shall from time to time delegate.
Joint Venture Management. The day-to-day operations of the Joint Venture shall be run by a management team employed by, and dedicated to, the JV Company under the management and direction of the JV Board. Such management team shall be headed by a president (the "JV President") who shall initially be ▇▇▇▇▇ ▇▇▇▇▇▇▇. The balance of the management team, and the personnel filling management positions, shall be determined from time to time by the JV President under the supervision of the JV Board. The management of the JV Company shall have such authority as the JV Board shall from time to time delegate except that the JV Company's management authority shall not extend to matters requiring approval of the Applera Board or the Inter-Group Policy Committee under the terms hereof.
Joint Venture Management. Newmont will be the manager of the Joint Venture so long as it maintains a 50% or greater interest in the Joint Venture. In lieu of administrative costs, the manager will earn a management fee of 5% of annual Joint Venture expenditures of US$5.0 million or less, and 3% for Joint Venture Expenditures in excess of US$5.0 million, until commencement of commercial production. Upon commencement of commercial production the management fee will be US$7.00 per ounce, provided however that after commencement of commercial production the management fee shall be adjusted to reflect the manager's actual cost experience, with the proviso that the manager shall neither make a profit or loss from being manager. Notwithstanding the foregoing, to the extent that tax regulations require the management fee to contemplate a profit, such profit shall be based on the market value of a non-related third party providing such management services. A management committee will be formed of two representatives from each party, with voting rights in proportion to the parties' respective participating interest. The manager shall present work programs and budgets annually to the management committee for approval at annual meetings. In the event of a tie vote, the manager shall have the deciding vote.
Joint Venture Management. 7.1 The operations and activities of CiaoHub in connection therewith, shall be carried out under the general management and direction of a Board of Directors (the “Board of Directors”) consisting of six members which shall be composed of three (3) persons designated by each Joint Venturer. Ciao shall designate a Brazilian citizen as Chairman (initially to be ▇▇▇▇▇▇▇ ▇▇▇▇▇▇) and SinoHub may designate the Vice-Chairman (initially to be ▇▇▇▇▇ ▇▇▇▇▇▇▇). Until written notice of any changes is given as hereinafter provided, the directors are as follows:
Joint Venture Management. (a) The Borrower provides, or enters into any agreement to provide, any management or administrative services to JV Holdco or any Joint Venture Company.
(b) JV Holdco provides or enters into any agreement to provide any management or administrative services to any Joint Venture Company.
(c) The Borrower’s management personnel performs any management or administrative services for JV Holdco or any Joint Venture Company.
(d) JV Holdco’s management personnel performs any management or administrative services for any Joint Venture Company.