Managing Owner Clause Samples

Managing Owner. (a) Franchisee must at all times during the Term employ a Managing Owner who must be a natural person and who shall be approved in advance by BKE in BKE’s sole discretion. Franchisee covenants that the Managing Owner is granted the authority by Franchisee to bind Franchisee in all dealings with BKE and its Affiliates and to direct any action necessary to ensure compliance with this Agreement and other agreements relating to the Franchised Restaurant. The Managing Owner at the date of this Agreement is the person specified as such in Schedule A. (b) Franchisee covenants that the Managing Owner will, at all times, have Control of Franchisee and will not delegate Control to any other person or entity. Franchisee must ensure that the Managing Owner exercises that Control diligently in compliance with this Agreement and in a timely manner. (c) No change in the Managing Owner may be made without the prior approval of BKE. If for any reason the person approved by BKE as the Managing Owner ceases to have Control of Franchisee, then as soon as practicable, and in any event no later than 90 days after such cessation, Franchisee must appoint a new Managing Owner that is approved in advance by BKE in its sole discretion. (d) If a person other than the Managing Owner is approved by BKE to act as the Operations Director pursuant to clause 4.4, the Managing Owner shall nevertheless devote substantial time and attention to the management and oversight of the Franchised Restaurant and any other Burger King Restaurants operated by Franchisee, and shall be available for meetings as requested by BKE.

Managing Owner. The following individual is designated as the Managing Owner (if Franchisee is a corporation, partnership, or limited liability company, the Managing Owner must own at least 25%):

Managing Owner. (a) Franchisee must at all times during the Agreement Term and the Term of any Unit Addenda employ a Managing Owner who must be a natural Person and who shall be the Chief Executive Officer, Chief Financial Officer, Chief Operations Officer or any other officer of Franchisee with equivalent responsibilities, and such officer shall take steps consistent with his or her role as such corporate officer to direct and oversee Franchisee’s compliance with this Agreement and other agreements relating to the Franchised Restaurants. (b) No change in the Managing Owner may be made without the prior approval of FRANCHISOR. For the avoidance of doubt, FRANCHISOR’s failure to provide any response regarding the request for approval within sixty (60) days of receiving the request from Franchisee shall constitute an approval of the request. If for any reason the person approved by FRANCHISOR as the Managing Owner ceases to hold that position in Franchisee, as soon as practicable, and in any event no later than ninety (90) days after such cessation, Franchisee must appoint a new Managing Owner that is approved in advance by FRANCHISOR in its reasonable discretion. This sub-clause 4.3(b) shall not apply if the Investment Agreement is then in effect (so long as FRANCHISOR is then a party and has the right to appoint at least one (1) member of the Board of Directors of the JVC). (c) If a person other than the Managing Owner is approved by FRANCHISOR to act as the Operations Director pursuant to clause 4.4, the Managing Owner shall nevertheless devote substantial time and attention to the management and oversight of the Franchised Restaurants, and shall be available for meetings as requested by FRANCHISOR. This sub-clause 4.3(c) shall not apply if the Investment Agreement is then in effect (so long as FRANCHISOR is then a party and has the right to appoint at least one (1) member of the Board of Directors of the JVC).

Managing Owner. Wilsonville is hereby designated as Managing Owner, with authority to manage, operate, repair, and replace the Plant Assets that comprise the Willamette River Water Treatment Plant, excluding the Willamette Intake Facilities. Wilsonville will also be responsible for operations and management of the Willamette Intake Facilities (“Intake Facilities”) until the Intake Facilities are upgraded and the parties to the Willamette Intake Facilities Intergovernmental Agreement, other than Wilsonville and Sherwood, begin to draw water through the Intake Facilities. A Managing Agent for the Intake Facilities will be named pursuant to the Willamette Intake Facilities Intergovernmental Agreement. If Wilsonville elects, in its sole discretion, to resign as Managing Owner of the Willamette River Water Treatment Plant, it will give all other then‐current owners notice thereof, and all owners, including Wilsonville, will mutually agree to a new Managing Owner.”

Managing Owner. Managing Owner" means the individual or individuals identified as Managing Owner(s) on the signature page of this Agreement who have the responsibilities set forth in Section ___, below, and elsewhere in this Agreement.

Managing Owner. The individual identified on the Horseman’s Signature Card as the Managing Owner for an HB Account and approved by the relevant Participating Racetracks, which Managing Owner shall have authority to provide instructions or make Funds Transfer requests to or through the IFS-FT module with respect to my Accounts. I authorize the Participating Racetracks, InCompass and the Clearing Bank to receive and act upon Funds Transfer requests in respect of my Accounts that are placed through the IFS-FT module and such other instructions as may be given by the Managing Owner. If I want to change the individual who serves as Managing Owner for my Accounts, I must notify the Participating Racetracks and InCompass who (in their discretion) must first approve the new Managing Owner, issue a new User ID, PIN and Password to the new Managing Owner and cancel my Access pursuant to Section 2 herein. Participating Racetrack. Each racetrack or racing association that is a participant in the IFS-FT module and that has granted me Access to my HB Account at that racetrack or racing association through the IFS-FT module. Password. Any authentication device (including alphanumeric codes) associated with my User ID that the Participating Racetracks and/or InCompass require for Access to my Account (or certain Account features) through the IFS-FT Module. PIN. Personal identification number.

Managing Owner. If Master Franchisee is an entity, identified on the signature page of this Agreement are the names of the Managing Owners. Franchisor has entered into this Agreement with Master Franchisee in reliance on the personal involvement in the Business of Managing Owners. At all times during the term of this Agreement, such Managing Owners shall devote so much of their personal time and attention to the management and operation of the Business as may be necessary.