Management of the JV Company Sample Clauses

The 'Management of the JV Company' clause defines how the joint venture company will be governed and operated. It typically outlines the structure and composition of the board of directors, the appointment and removal process for key executives, and the decision-making procedures for significant business matters. For example, it may specify voting rights, quorum requirements, and reserved matters that require unanimous or majority approval. This clause ensures that all parties have a clear understanding of their roles and responsibilities in managing the joint venture, thereby reducing the risk of disputes and promoting effective collaboration.
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Management of the JV Company. 6.01 The Board of Directors shall comprise of no less than 3 Directors. IMOT shall appoint 2 directors, one of them being ▇▇. ▇▇▇▇ and the Investors shall appoint 1 director. Those persons shall be appointed as directors of the JV Company pursuant to the Articles.
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Management of the JV Company. The Parties acknowledge and agree that the management of the JV Company shall through the Board and the general meeting be based on consent between the Parties and among the directors of the Board appointed by the Parties and, in respect of decision making, as further set out in Clause 5.6 in the JVA.
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Management of the JV Company. Board composition
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Management of the JV Company. The board of directors of the JV Company shall comprise two directors, both of whom shall be nominated by Sun Entertainment Investment. The quorum of the meeting of the directors shall be two and decisions of the board of directors of the JV Company shall be made by a majority of the votes cast in a meeting at which a quorum is present. The Board is pleased to announce that on 21 January 2021, the JV Company and the Vendor entered into the Equipment Transfer Agreement. The major terms of the Equipment Transfer Agreement are set out below. 21 January 2021 (1) JV Company, as the purchaser; and (2) Vendor, as the vendor
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Management of the JV Company. 26.1 The JV Company shall set up a management system to undertake the daily operation and management of the JV Company under the leadership and supervision of the Board. The JV Company shall have one (1) general manager (“General Manager”) and several vice presidents (“VP”). Apart from that, the JV Company shall at least have the following major functions: Auditing Two (2) Internal Auditors, including one (1) Internal Audit Director For the avoidance of doubt, there will be only one leader for each function and the head of one function can serve as the leader of other function(s) concurrently if duly nominated and appointed pursuant to this Article 26. 26.2 The General Manager shall report to the Board, and all other Management Personnel shall report to the General Manager. 26.3 [...***...] shall be nominated by Party A and approved and appointed by the Board. Upon BeiGene Biologics’ transformation into the JV Company, the term of the initial General Manager shall be [...***...] years commencing from the Establishment Date, the term of the initial Management Personnel other than the General Manager shall be [...***...] years commencing from the Establishment Date. Each Management Personnel thereafter shall serve a term * Confidential Information, indicated by [...***...], has been omitted from this filing and filed separately with the U.S. Securities and Exchange Commission. of [...***...] years and may serve consecutive terms if re-nominated by Party A and re-approved by the Board. 26.4 Except for the powers reserved to the Board according to this Contract and the Articles of Association of JV Company, the General Manager shall be responsible for the daily operation of the JV Company, including without limitation: (a) Implementing the annual business plan as approved by the Board; (b) Implementing the Board resolutions; (c) Recruiting and removing other Management Personnel pursuant to Section 26.8 of this Contract; (d) Recruiting and removing Employees of the JV Company other than the Management Personnel; (e) Formulating and submitting to the Board for approval the internal organizational and management structure of the JV Company; (f) submitting to the Board for approval the annual investment plan, the financial statements, the annual report, the annual employee policy, and the employee compensation plan and any other reports and plans which need approval by the Board from time to time; and (g) Other powers as delegated by the Board pursuant to this Co...
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Management of the JV Company 
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Related to Management of the JV Company

  • Management of the Partnership The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Management of the Company The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the Formation. Single-Member (Applies ONLY if Single-Member): The Member(s) of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) is designated as the initial managing Member(s). Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member shall not, without the prior written consent of the unanimous vote or consent of the Member(s), sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements or any other purpose; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) shall receive such sums for compensation as Member(s) of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) holding a majority of the Member(s)’ Percentage Interests.

  • MANAGEMENT OF THE BUSINESS Pursuant to Section ▇▇-▇▇-▇▇▇ of the Act, and as stated in its Articles, the Company’s day to day affairs are managed by the Member. The Member is responsible for the daily operations of the business.

  • Management of Company 5.1.1 The Members, within the authority granted by the Act and the terms of this Agreement shall have the complete power and authority to manage and operate the Company and make all decisions affecting its business and affairs. 5.1.2 Except as otherwise provided in this Agreement, all decisions and documents relating to the management and operation of the Company shall be made and executed by a Majority in Interest of the Members. 5.1.3 Third parties dealing with the Company shall be entitled to rely conclusively upon the power and authority of a Majority in Interest of the Members to manage and operate the business and affairs of the Company.

  • Management Generally The management of the Company shall be vested exclusively in the Managing Member. Except as authorized by the Managing Member, or as expressly set forth in this Agreement, the Non-Managing Members shall have no part in the management of the Company, and shall have no authority or right to act on behalf of the Company in connection with any matter. The Managing Member, and any Affiliate of the Managing Member, may engage in any other business venture, whether or not such business is similar to the business of the Company, and neither the Company nor any Non-Managing Member shall have any rights in or to such ventures or the income or profits derived therefrom.