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
Appears in 4 contracts
Samples: Joint Venture Agreement (Arcis Resources Corp), Joint Venture Agreement (Arcis Resources Corp), Joint Venture Agreement (Arcis Resources Corp)
