Joint Decisions. The Property shall be managed by the Trustee; however, Beneficiary shall approve, and such approval shall not be unreasonably withheld, all major decisions with respect to the long-term management, operation and control of the Beneficiary’s interests in the Property, such as: (a) Financing or refinancing of the Property; (b) Sale, lease or other transfer of the Property; (c) Making any material expenditures or incurring any material obligation in connection with the Property; or (d) Any other decision that materially affects the Property.
Appears in 2 contracts
Sources: Tenancy in Common Agreement, Tenancy in Common Agreement (Digital Power Corp)