Common use of Managers Responsibilities Clause in Contracts

Managers Responsibilities. During the Term, the Manager shall provide the following Services on behalf of each Holding Company, each in accordance with the Prudent Operator Standard: (a) Supervise and monitor the Service Providers with respect to their performance of services for each Holding Company and (i) where necessary or desirable at such Holding Company’s sole expense, taking of such actions as are necessary to enforce each Service Provider’s, compliance with its obligations to such Holding Company, and (ii) where necessary or desirable, at such Holding Company’s sole expense, hiring, firing and/or replacing any Service Provider; (b) (i) Collect on behalf of each Holding Company, or cause to be so collected, all payments due to such Holding Company, (ii) prepare and promptly pay, or cause to be paid, on behalf of each Holding Company, any amounts required to be paid by such Holding Company, including all expenses incurred by such Holding Company or that are due and payable under contracts to which such Holding Company is a party (iii) promptly (but in no event later than the date such payment is due and payable, unless there is a dispute as to payment) remit, or direct to be remitted, from funds of each Holding Company amounts in payment of the expenses of such Holding Company as contemplated by its respective Approved Budgets (including authorized variances thereto), or that are required by law, and (iv) maintain reserves for each Holding Company from time to time as directed by, and upon terms established by, each Holding Company pursuant to its respective LLC Agreement; provided that nothing herein shall imply any duty of the Manager under any circumstances to expend its own funds in payment of the expenses of any Holding Company; provided further that nothing herein shall imply any guarantee by the Manager with respect to the collection of amounts due to any Holding Company or the return on such investments;