Appointment of Management Clause Samples

The Appointment of Management clause establishes the process by which a manager or management entity is designated to oversee and operate a business, project, or property. Typically, this clause outlines who has the authority to appoint the manager, the qualifications required, and the duration or terms of the appointment. For example, it may specify that a board of directors selects a property manager for a real estate venture, or that a majority of partners must agree on the appointment. The core function of this clause is to ensure clarity and structure in the management of the entity, preventing disputes over who is responsible for day-to-day operations and decision-making.
Appointment of Management. Subject to Section 2.2 hereof, all members of management of the Company (other than the Chief Executive Officer) shall be designated by, their compensation shall be determined by, and they may be removed, promoted or demoted by, the Chief Executive Officer of the Company; provided, however, that the designation of, setting of compensation for, or removal, promotion or demotion of, any person who will report directly to the Chief Executive Officer or earn total compensation (including benefits) from the Company and its Subsidiaries of $150,000 or more per year shall be subject to the prior approval of the Board.
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Appointment of Management. The Seller agrees to authorize Buyer to appoint a vice-financial controller for the Company and Sanwei Advertisement on or following the Purchase Closing Date.
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Appointment of Management. (a) The Seller Parties agree to authorize Buyer to appoint a deputy financial controller for the Company on or following the First Closing Date. (b) The Seller Parties agree to authorize Buyer to appoint a deputy sales director and a deputy manager for media development on or subsequent to the First Closing Date. (c) For each of the appointment described in clauses (a) and (b) above, Seller shall have the right to dismiss any such deputies for Cause, provided that such dismissal shall not prejudice Buyer's right to appoint any replacement deputies.
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Appointment of Management. The Seller agrees to authorize Buyer to appoint a deputy financial controller for the Company on or following the First Closing Date.
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Appointment of Management. For all Project Companies, AEI shall have the right to appoint the General Manager (Chief Executive Officer) and either a Controller or a Chief Financial Officer. SES shall have the right to appoint the Deputy General Manager (Chief Operating Officer) and the Operations Manager for the Syngas Project for all Project Companies.
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Appointment of Management. Subject to the terms and provisions of this Agreement, the management of PLASA shall be appointed by unanimous approval of the Shareholders. Lithium X shall appoint management of PLASA from the Effective Date until completion of the Expenditure Commitment. In the event that a Shareholder’s Percentage Equity Interest is 80% or more, such Shareholder shall have the right to appoint management of PLASA.
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Appointment of Management. The Company hereby appoints Management to carry out the duties described in this Agreement subject to the direction of the Company and in accordance with the budgets and policies of the Company, for that period of time and for such compensation as is more particularly described below.
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Related to Appointment of Management

  • Appointment of Manager The Trust hereby employs the Manager, and the Manager hereby accepts such employment, to render investment advice and related services with respect to the assets of the Fund for the period and on the terms set forth in this Agreement, subject to the supervision and direction of the Trust’s Board of Trustees.

  • 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 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 FTIS The Investment Company hereby appoints FTIS as transfer agent for Shares of the Investment Company, as service agent in connection with dividend and distribution functions, and as shareholder servicing agent for the Investment Company, and FTIS accepts such appointment and agrees to perform the following duties.

  • 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.