Common use of Continuing Authority Clause in Contracts

Continuing Authority. On termination of this Agreement under Section 11.01 or 11.02, the Operator shall have the power and authority, subject to control of the Management Committee, if any, to do all things on behalf of the Participants which are reasonably necessary or convenient to: (a) wind-up Operations; and (b) complete any transaction and satisfy any obligation, unfinished or unsatisfied, at the time of such termination or withdrawal, if the transaction or obligation arises out of Operations prior to such termination or withdrawal. The Operator shall have the power and authority to grant or receive extensions of time or change the method of payment of an already existing liability or obligation, prosecute and defend actions on behalf of the Participants and the Venture, mortgage Assets, and take any other reasonable action in any matter with respect to which the former Participants continue to have, or appears or are alleged to have, a common interest or a common liability.

Continuing Authority. On termination of this Agreement under Section 11.01 or 11.02Agreement, the Operator Manager shall have the power and authority, subject to the control of the Management Committee, if any, to do all things on behalf of the Participants Parties which are reasonably necessary or convenient to: : (a) wind-wind up Operations; and and (b) complete any transaction and satisfy any obligation, unfinished or unsatisfied, at the time of such termination or withdrawaltermination, if the transaction or obligation arises out of Operations prior to such termination or withdrawaltermination. The Operator Manager shall have the power and authority authority, subject to the control of the Management Committee, to grant or receive extensions of time or change the method of payment of an already existing liability or obligation, prosecute and defend actions on behalf of the Participants Parties and the Venture, mortgage AssetsAssets or the Project, and take any other reasonable action in any matter with respect to which the former Participants Parties continue to have, or appears appear or are alleged to have, a common interest or a common liability.

Continuing Authority. On termination of this Agreement under Section 11.01 or 11.02Agreement, the Operator shall have Manager has the power and authority, subject to control of the Management Committee, if any, to do all things on behalf of the Participants which that are reasonably necessary or convenient to: (a) wind-up Operations; and (b) complete any transaction and satisfy any obligationobligation (including without limitation obligations related to environmental reclamation and remediation), unfinished or unsatisfied, at the time of such termination or withdrawaltermination, if the transaction or obligation arises out of Operations prior to such termination or withdrawaltermination. The Operator shall have Manager has the power and authority to grant or receive extensions of time or change the method of payment of an already existing liability or obligation, prosecute and defend actions on behalf of the Participants and the Venture, mortgage Assets, and take any other reasonable action in any matter with respect to which the former Participants continue to have, or appears appear or are alleged to have, a common interest or a common liability.