Common use of Management Principles Clause in Contracts

Management Principles. The Company has been formed on the principles that the Business will be operated in the best interests of the Company and that the management rights of each Member shall be established independent of such Member’s ownership interest in the Company. The Members, through their representatives on the Board and Management Team and their participation in the meetings described in Section 7.03, shall actively and mutually participate in the development of the Strategic Plan and the AOP, including the associated capacity plans and shall jointly develop marketing and sales plans related to the Business. Notwithstanding the foregoing, the Management Team shall be responsible for the day-to-day management of the Business.