RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 The Designated Officers from each of the Parties hereto shall have full, and complete authority and discretion in the management and control of the business of the JV for the purposes herein stated and shall make all decisions affecting the business of the JV together, but not without the agreement in advance of the other. As such, any action taken by the Designated Officers shall constitute the act of, and serve to bind, the JV. The Designated Officers shall manage and control the affairs of the JV to the best of their ability and shall use their best efforts to carry out the business of the JV. Officers designated from GSAI are: Xxxxxx Xx Xxxxx Officers designated from PREMI are: Xxxx X Xxxxxxx
RIGHTS AND DUTIES OF THE JOINT VENTURERS. Any Joint Venturer shall have complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. He shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. Avra Inc. shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. Mango Pay SRL shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture. shall not participate in or have any control over the Joint Venture business nor shall it have any authority or right to act for or bind the Joint Venture. ARTICLE VI AGREEMENTS WITH THIRD PARTIES AND WITH AFFILIATES OF THE JOINT VENTURERS 6.01 Validity of Transactions. Affiliates of the parties to this Agreement maybe engaged to perform services for the Joint Venture. The validity of any transaction, agreement or payment involving the Joint Venture and any Affiliates of the parties to this Agreement otherwise permitted by the terms of this Agreement shall not be affected by reason of the relationship between them and such Affiliates or the approval of said transactions, agreement or payment. 6.02 Other Business of the Parties to this Agreement. The parties to this Agreement and their respective Affiliates may have interests in businesses other than the Joint Venture business. The Joint Venture shall not have the right to the income or proceeds derived from such other business interests and, even if they are competitive with the Partnership business, such business interests shall not be deemed wrongful or improper. ARTICLE VII PAYMENT OF EXPENSES All expenses of the Joint Venture shall be paid by and shall be reimbursed by the Joint Venture. ARTICLE VIII
RIGHTS AND DUTIES OF THE JOINT VENTURERS. Business of the Joint Venture: Title: Title shall be held by Party B in the name of _. A Deed of Trust shall secure party A. Initial Contributions: Party B has, through network sources and marketplace diligence, located and negotiated the contract for purchase of the subject property. Party A has reviewed the supporting documents, photographs and pro forma estimate of the property performance data and has agreed to provide the capital for the initial acquisition and upgrade costs at an amount not to exceed _. Such funds will be used first for closing the purchase transaction per the HUD1 closing statement, secondly for the purchase of a prepaid annual fire and hazard insurance policy, thirdly for the initial property repairs $ (per the HUD1 closing statement), lastly, for initiating utilities and payment for necessary property upgrades before occupancy. Any remaining funds will be retained in the operating escrow account and such account maintained to provide sufficient funds for the annual payment of property taxes, insurance plus $1,000.00 for contingencies. Management: Party B shall have the exclusive duty of managing the asset during the holding period. Such management shall include, but not be limited to: Necessary property improvements and/or maintenance, marketing, interviewing, and performing background due diligence for prospective occupants, collecting monies, disbursing monies as necessary for the on-going operation including property taxes and insurance. Party B shall have the exclusive right to manage and negotiate with occupants or prospective tenant-buyers and enter into agreements with same for the occupancy of the property and future sale of the property under terms acceptable to Party B. It is the desire of both parties that any future gains on the sale of the property be one year or more in time so as to be considered long term capital gains. Party B will not agree to the sale of said property for an amount less than $ cash without the consent of both parties and such a sale price would be consummated within two (2) years of the date of this agreement. Party B agrees not to enter into any future sale agreement that provides the Buyer with terms that would extend beyond a five (5) year period without some re-negotiation of those terms, whether interest rate, principal payments, or an index that would allow for the effects of future inflation.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. Client shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. Client shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture. Company shall not participate in or have any control over the Joint Venture business nor shall it have any authority or right to act for or bind the Joint Venture.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. COO (Axxxxx X. Xxxxxx) shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. As such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. ISBG shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture for 8 months the PHH will control its operations apart from ISBG.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. Wien Group, Inc. shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. Wien Group, Inc. shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture. EXHIBIT 10.4 ARTICLE VI AGREEMENTS WITH THIRD PARTIES AND WITH AFFILIATES OF THE JOINT VENTURERS
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. Mr, Xxxx Xxxxxxx Together with Xxx. Xxxx Xxxxxx shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. _ Mr, Xxxx Xxxxxxx Together with Xxx. Xxxx Xxxxxx shall manage and control the affairs of the Joint Venture to the best of its ability and shall use their best efforts to carry out the business of the Joint Venture.
RIGHTS AND DUTIES OF THE JOINT VENTURERS. 5.01 Business of the Joint Venture. __________ shall have full, exclusive and complete authority and discretion in the management and control of the business of the Joint Venture for the purposes herein stated and shall make all decisions affecting the business of the Joint Venture. At such, any action taken shall constitute the act of, and serve to bind, the Joint Venture. __________ shall manage and control the affairs of the Joint Venture to the best of its ability and shall use its best efforts to carry out the business of the Joint Venture. __________ shall not participate inor have any control over the Joint Venture business nor shall it have any authority or right to act for or bind the Joint Venture.
