Managerial Authority Clause Examples

The Managerial Authority clause defines the rights and powers granted to a designated manager or management entity to oversee and make decisions regarding the operations of a business or project. Typically, this clause outlines the scope of the manager's authority, such as entering into contracts, hiring staff, or managing finances, and may specify any limitations or required approvals from other parties. Its core practical function is to clearly allocate decision-making power, ensuring efficient management and reducing disputes over who has the authority to act on behalf of the organization.
Managerial Authority. The Member shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or expressly required by the Act.
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Related to Managerial Authority

  • Legal Authority The Contractor warrants and assures H-GAC that it possesses adequate legal authority to enter into this Agreement. The Contractor's governing body, where applicable, has authorized the signatory official(s) to enter into this Agreement and bind the Contractor to the terms of this Agreement and any subsequent amendments hereto.

  • Proper Authority Each Party represents and warrants that the person executing this Grant Agreement on its behalf has full power and authority to enter into this Grant Agreement.

  • LEGAL AUTHORIZATION (a) The Sub-Recipient certifies that it has the legal authority to receive the funds under this Agreement and that its governing body has authorized the execution and acceptance of this Agreement. The Sub-Recipient also certifies that the undersigned person has the authority to legally execute and bind Sub-Recipient to the terms of this Agreement.

  • Governmental Authority “Governmental Authority” means any federal, state, municipal, foreign or other government, governmental department, commission, board, bureau, agency or instrumentality, or any private or public court or tribunal.

  • AUTHORITY; OWNERSHIP Such STOCKHOLDER has the full legal right, power and authority to enter into this Agreement. Such STOCKHOLDER owns beneficially and of record all of the shares of the COMPANY Stock identified on Annex IV as being owned by such STOCKHOLDER, and, except as set forth on Schedule 5.3, such COMPANY Stock is owned free and clear of all liens, encumbrances and claims of every kind.