Appointment of Management Committee Sample Clauses

Appointment of Management Committee. Petroleum Operations in the Contract Area shall be conducted under the control and supervision of a Management Committee composed of four (4) members, two (2), including the chairman, to be appointed by First Party, and two (2) to be appointed by Second Party. The Management Committee shall be formed not later than one
Sample 1
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Appointment of Management Committee. The Management Committee shall be comprised of the four individuals listed as a Manager on Schedule B attached hereto (each, a “Manager”), each of whom shall have the right to remove himself as a Manager and designate an individual as a successor Manager; provided, however, that upon the death of any Manager, the estate of such deceased Manager shall have the right to designate a successor Manager; and, provided further, that upon (i) the disability of any Manager or (ii) the failure of any Manager, or such Manager’s estate, to designate a successor Manager within one hundred eighty (180) days of such Manager’s removal of himself as Manager or such Manager’s death, as the case may be, then the individual named as an Alternate Manager next to such Manager’s name on Schedule B attached hereto shall be designated as a successor Manager, or if no such individual is listed as an Alternate Manager, or if the individual listed as Alternate Manager is deceased, disabled or otherwise unable to serve as a Manager, then a successor Manager shall be appointed by a majority approval of the remaining members of the Management Committee.
Sample 1
Appointment of Management Committee. 13 5.2 CHAIRMAN AND SECRETARY OF THE MANAGEMENT COMMITTEE... 14 5.3 DECISIONS 14 5.4 MEETINGS 15 5.5 PROCEDURES 16 ARTICLE 6 OPERATOR 16 6.1 OPERATOR................................................................................. 16 6.2 OPERATOR'S OBLIGATIONS AND DUTIES 17 ARTICLE 7 WORK PROGRAM AND BUDGETS................................................. 18 7.1 WORK PROGRAM........................................................................ 18 7.2 RELEVANT DATA 19 ARTICLE 8 CONTRACTORS, LOCAL WORK AND PERSONNEL.......................... 19 8.1 CONTRACTORS 19 8.2 PRIORITY TO LOCAL WORK 19 8.3 HIRING AND TRAINING OF LIBYAN AND TUNISIAN PERSONNEL 20 8.4 LABOR AND SOCIAL SECURITY 20 ARTICLE 9 SAFETY, POLLUTION AND EMERGENCY 20 ARTICLE 10 COMMENCEMENT OF PETROLEUM OPERATIONS 21 ARTICLE 11 LIMITS ON EXPENDITURES BY OPERATOR 21 ARTICLE 12 SECOND PARTY'S MINIMUM EXPLORATION COMMITMENT 21 12.1 MINIMUM EXPLORATION COMMITMENT 21 12.2 EXPLORATION PERIOD 22 12.3 PENALTIES IN CASE OF NON-FULFILMENT OF MINIMUM EXPLORATION PROGRAM 22
Sample 1
Appointment of Management Committee. The Members hereby delegate management of the business and operations of the Company, as to matters set forth herein and in Section 3.2, c., (1), to a Management Committee. The Management Committee shall be initially composed of four members, two members each to be appointed by Sport-Xxxxx and Explorer Gear. In the event that Explorer Gear does not close on a Sport-Xxxxx/Explorer Gear Acquisition within 120 days from the Effective Date, the Members agree that the Management Committee shall be composed of five members, three to be appointed by Sport-Xxxxx and two by Explorer Gear. The members of the Management Committee shall serve until replaced by the Member which appointed them. Management Committee members may be removed by the affirmative vote of the Management Committee. Matters to be decided by the Management Committee shall be approved by an affirmative vote of a majority of the members of the Committee. The initial members of the Management Committee shall be Xxxxxx X. Xxxxxx, Xxxxxx X. Xxxxxx, Xxxxx Xxxxxxxxxxx and Xxxxxx Xxx. The Management Committee shall meet no less than on a quarterly basis, pursuant to reasonable notice to all members. Members of the Management Committee may participate in such meetings by telephone. A majority of members (i.e., 3 members) of the Committee present shall constitute a quorum. Unless otherwise provided by law, any action required to be taken or which may be taken at a meeting of the Management Committee may be taken without a meeting if one or more written consents, setting forth the action authorized, shall be signed by each of the members of the Management Committee entitled to vote with respect to the subject matter of thereof and delivered to the Company. Such written consents shall have the same effect as a meeting vote and may be described as such in any document.
Sample 1
Appointment of Management Committee. A. NUMBER, APPOINTMENT AND QUALIFICATIONS. The Company shall initially have five (5) Committee Members. For so long as the following are Members, Outback shall name two (2) Committee Members, FPSH LP shall name one (1) Committee Member, AWA INC shall name one (1) Committee Member, and the fifth Committee Member (the "Wise Man") shall be named by unanimous consent of the other four (4)
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Appointment of Management Committee. Section 5.2 of the Agreement shall be deleted in its entirety and replaced with the following:
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Appointment of Management Committee. A. NUMBER,
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Appointment of Management Committee 
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Related to Appointment of Management Committee

  • Appointment of Managers With effect from the day and year stated in Box 4 and continuing unless and until terminated as provided herein, the Owners hereby appoint the Managers and the Managers hereby agree to act as the Managers of the Vessel.

  • Appointment of Manager Owner hereby engages and retains Manager as the manager and as tenant coordinating agent of the Properties, and Manager hereby accepts such appointment on the terms and conditions hereinafter set forth; it being understood that this Management Agreement shall cause Manager to be, at law, Owner’s agent upon the terms contained herein.

  • Management Committee The Members shall act collectively through meetings as a "committee of the whole," which is hereby named the "Management Committee." The Management Committee shall conduct its affairs in accordance with the following provisions and the other provisions of this Agreement:

  • Appointment of the Manager The Trust is engaged in the business of investing and reinvesting its assets in securities of the type and in accordance with the limitations specified in its Declaration of Trust, as amended and supplemented from time to time, By-Laws (if any) and Registration Statement filed with the Securities and Exchange Commission (the "Commission") under the 1940 Act and the Securities Act of 1933 (the "Securities Act"), including any representations made in the prospectus and statement of additional information relating to the Funds contained therein and as may be amended or supplemented from time to time, all in such manner and to such extent as may from time to time be authorized by the Trust's Board of Trustees (the "Board"). The Board is authorized to issue any unissued shares in any number of additional classes or series. The investment authority granted to the Manager shall include the authority to exercise whatever powers the Trust may possess with respect to any of its assets held by the Funds, including, but not limited to, the power to exercise rights, options, warrants, conversion privileges, redemption privileges, and to tender securities pursuant to a tender offer, and participate in class actions and other legal proceedings on behalf of the Funds. The Trust hereby appoints the Manager, subject to the direction and control of the Board, to manage the investment and reinvestment of the assets in the Funds and, without limiting the generality of the foregoing, to provide the other services specified in Section 2 hereof. The Trust hereby appoints the Manger to provide the Fundlevel duties and services as set forth in Section 2(b) hereof, for the compensation and on the terms herein provided, and the Manager hereby accepts such appointment. Each new investment portfolio established in the future by the Trust shall automatically become a "Fund" for all purposes hereunder as if it were listed on Schedule A, absent written notification to the contrary by either the Trust or the Manager.

  • Appointment of Directors Immediately upon the Effective Time, Parent shall, in accordance with Section 2.3(d), accept the resignations and cause the appointments of those officers and directors of Parent identified in Exhibit C hereto, subject to any notice and waiting period requirements of federal law. At the first annual meeting of Parent’s stockholders and thereafter, the election of members of Parent’s Board of Directors shall be accomplished in accordance with the by-laws of Parent.

  • Engagement of Manager Commencing on the Effective Date, the Owner hereby appoints, retains and authorizes the Manager, and the Manager hereby accepts and agrees, to perform the Management Services and Operating Services (collectively, the “Services”) during the Term at all times in accordance with the terms and conditions set forth in this Agreement.

  • Appointment of Director The Company, subject to the requisite prior-approval of the Board of Directors, hereby:

  • Appointment of the Advisor The Advisor is hereby appointed and employed as investment advisor to the Trustee to assist the Trustee in its management of such assets of the Fund as are held in the Subaccount from time to time. The Advisor shall provide investment advice and recommendations and shall render certain other related services to or on behalf of the Trustee, all in accordance with the terms and conditions of this Agreement.

  • Replacement of Manager If at any time after any Action is brought the Manager settles the Action on a basis that results in the settlement of such Action against it and fewer than all the Underwriters (whether or not such settlement complies with Section 9.7 hereof), the Manager will, at such time, for purposes of Sections 9.3, 9.4, 9.5, 9.6, and 9.7 hereof, cease to be the Manager. The non-settling Underwriters will, by vote of holders of a majority of the Underwriting Percentage of such non-settling Underwriters, select a new Manager, which will become the new “Manager” for all purposes of Sections 9.3, 9.4., 9.5, 9.6, and 9.7 hereof as well as this section; provided that the non-settling Underwriter(s) with the largest Underwriting Percentage will act as Manager until such vote occurs and a new Manager is selected. 4 Notwithstanding such a settlement, the Manager and the other settling Underwriters will remain obligated to the non-settling Underwriters to assist and cooperate fully, in good faith, and at their own expense, in the defense of any Actions, including, without limitation, by providing, upon reasonable request of any non-settling Underwriter, and without the necessity of court process, access to or copies of all relevant records, and reasonable access to all witnesses under control of the Manager or the other settling Underwriters, for the purpose of interviews, depositions, and testimony at trial, subject in each case to the applicable legal and procedural obligations of such Manager and such other settling Underwriter. In addition, if at any time, the Manager is unwilling or unable for any reason to assume or discharge its duties as Manager under the applicable AAU, whether resulting from its insolvency (voluntary or involuntary), resignation or otherwise, to the extent permitted by applicable law, the remaining Underwriters will, by vote of holders of a majority of the Underwriting Percentage of such Underwriters, be entitled to select a new Manager, which will become the new Manager for all purposes under this Agreement. 5 Notwithstanding the foregoing, a Manager replaced pursuant to this Section 9.9 shall continue to benefit from and be subject to all other terms and conditions of this Agreement applicable to an Underwriter.

  • Appointment of the Adviser The Trust is engaged in the business of investing and reinvesting its assets in securities of the type and in accordance with the limitations specified in its Declaration of Trust, as amended and supplemented from time to time, By-Laws (if any) and Registration Statement filed with the Securities and Exchange Commission (the "Commission") under the 1940 Act and the Securities Act of 1933 (the "Securities Act"), including any representations made in the prospectus and statement of additional information relating to the Funds contained therein and as may be amended or supplemented from time to time, all in such manner and to such extent as may from time to time be authorized by the Trust's Board of Trustees (the "Board"). The Board is authorized to issue any unissued shares in any number of additional classes or series. The investment authority granted to the Adviser shall include the authority to exercise whatever powers the Trust may possess with respect to any of its assets held by the Funds, including, but not limited to, the power to exercise rights, options, warrants, conversion privileges, redemption privileges, and to tender securities pursuant to a tender offer, and participate in class actions and other legal proceedings on behalf of the Funds. The Trust hereby employs Adviser, subject to the direction and control of the Board, to manage the investment and reinvestment of the assets in the Funds and, without limiting the generality of the foregoing, to provide the other services specified in Section 2 hereof.

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