Manager Qualifications Clause Samples
The Manager Qualifications clause sets out the specific requirements and standards that an individual or entity must meet to be eligible to serve as the manager under an agreement. Typically, this clause outlines necessary experience, professional credentials, licensing, or other criteria such as a clean legal or financial record. By clearly defining who is qualified to act as manager, the clause ensures that only capable and trustworthy parties are entrusted with management responsibilities, thereby reducing the risk of mismanagement and protecting the interests of other parties involved.
Manager Qualifications. A Manager need not be a resident of the State of Delaware. A Manager shall hold office until the earlier of his resignation or removal in accordance with the provisions of this Agreement or the Act.
Manager Qualifications. Each Manager shall be a natural person. A Manager need not be a resident of the State of Delaware or a Member of the Company.
Manager Qualifications i. 1 Manager, at least 25 years old with current American Red Cross certification in Lifeguarding and CPR/First Aid, Wake County recognized Certified Pool Operator, and minimum 2 years’ experience working as a pool manager.
Manager Qualifications. Manager’s obligation to provide any of the Services directly to the Portfolio is subject to Manager’s legal qualification to provide such Service to registered, open-end management investment companies, and nothing herein shall require Manager to register with the Securities and Exchange Commission or any state regulator in order to perform such Service directly.
Manager Qualifications. The Manager shall meet the requirements of the NASAA guidelines.
3.11.1 The Manager has the requisite experience as set forth by the NASAA guidelines, and has demonstrated the knowledge and experience to acquire and manage the real properties and mortgage loans being acquired.
3.11.2 The financial condition of the Manager must be commensurate with any financial obligations assumed in the offering and in the operation of the Company. As a minimum, the Manager shall have an aggregate financial Net Worth, exclusive of home, automobile and home furnishing, of the greater of either $50,000 or an amount at least equal to 5% of the gross amount of all offerings sold within the prior 12 months plus 5% of the gross amount of the current offering, to an aggregate maximum Net Worth of the Manager of one million dollars. In determining Net Worth for this purpose, evaluation will be made of contingent liabilities and the use of promissory notes, to determine the appropriateness of their inclusion in computation of Net Worth.