Manager’s General Responsibilities Clause Samples
The "Manager’s General Responsibilities" clause defines the overarching duties and obligations of the manager within an agreement. Typically, this clause outlines the manager’s role in overseeing operations, making decisions, and ensuring compliance with relevant laws and policies. For example, it may require the manager to supervise staff, maintain records, and report regularly to stakeholders. The core function of this clause is to clearly establish the manager’s scope of authority and accountability, thereby preventing misunderstandings and ensuring effective management of the project or business.
Manager’s General Responsibilities. Subject to the requirements of this Agreement, including, without limitation, Section 2.12, to the extent funds derived from the operation of the Resort or provided by Owner are available for such purposes and except as otherwise approved by Owner, Manager shall use commercially reasonable efforts to operate the Resort in conformance with the Approved Resort Operating Plan, and Manager shall comply with the provisions of Loan Documents and the IP License relating to the operation of the Resort. All duties to be performed by Manager under this Agreement shall be for and on behalf of Owner, in the name of Owner, and for Owner’s account and none of such duties are to be performed at Manager’s expense. Subject to the requirements of this Agreement, including, without limitation, Section 2.12, Manager shall have complete discretion and control in all matters relating to the management and operation of the Resort. Manager shall at all times act with the standard of skill, care and expertise that would be customary and reasonably expected from a prudent manager of comparable resorts, and Manager shall cause the Resort to be operated, serviced, maintained, furnished, equipped and refurbished in a manner consistent with the Standards and in a manner reasonably expected to enhance over the Term the financial performance of the Resort’s operations. Without limiting the generality of the foregoing, but subject in all instances to the Approved Resort Operating Plan and the requirements of this Agreement, Manager is authorized and shall perform the following services, the costs of which shall be borne by Owner as Operating Expenses:
Manager’s General Responsibilities. The Manager shall comply with the 1940 Act, 1933 Act, and all applicable rules and regulations of the Securities and Exchange Commission; the provisions of the Internal Revenue Code applicable to the Funds as regulated investment companies; the policies, restrictions, and other statements concerning the Funds in the Trust's Declaration of Trust, Bylaws, and registration statements under the 1940 Act and 1933 Act; and policy decisions and procedures adopted by the Board from time to time.