Power and Appointment of Manager Clause Samples

The 'Power and Appointment of Manager' clause defines the authority to appoint a manager and outlines the scope of powers granted to that manager within an organization or agreement. Typically, this clause specifies who has the right to appoint or remove the manager, the process for such appointments, and the extent of the manager’s decision-making authority, such as overseeing daily operations or managing assets. Its core function is to ensure clarity and structure in management roles, preventing disputes by clearly delineating who holds managerial power and how that power is exercised.
Power and Appointment of Manager. The Manager reserves and retains full authority and responsibility and the exclusive power to manage the business and affairs of the Funds, including without limitation to provide to the Funds all necessary investment management, including but not limited to directing the investment of the Fund assets, and all clerical, administrative, and operational services as set forth in this Article 7 or elsewhere in this Master Trust Agreement. For greater certainty, it is hereby confirmed that the Trustee in any capacity hereunder shall have no responsibility for investment management of the securities or other assets of the Funds or for any investment decisions, initiating any trades in respect of any Fund assets, or for providing any Fund valuation or recordkeeping services, save and except for carrying out the instructions given to it pursuant to this Master Trust Agreement and for decisions made by the Trustee, other than on the written instructions of the Manager, in the exercise of the specific powers and authorities provided to the Trustee in Section 6.5. Without limitation, the Trustee in any capacity hereunder shall have no responsibility or liability whatsoever for the monitoring of any investment objectives or restrictions of the Funds.
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Power and Appointment of Manager. The Manager reserves and retains full authority and responsibility and the exclusive power (i) to manage the business and affairs of the Funds, including without limitation to provide to the Funds all necessary investment management, including but not limited to directing the investment of the Fund assets, and all clerical, administrative, and operational services as set forth in this Article 7 or elsewhere in this Master Trust Agreement, and (ii) appoint a Custodian to hold the assets and property of the Funds, as more specifically set forth in Section 7.2(m) hereof. The Manager, on behalf of the Funds, reserves and retains the power to assign, convey, mortgage, pledge, hypothecate and charge in favour of, and grant a security interest in all of the Fund’s right, title and interest in and to the Fund assets to another party in accordance with the terms of this Trust Agreement. The Manager shall provide or arrange to provide all Fund valuation and recordkeeping services for the Funds. For greater certainty, it is hereby confirmed that the Trustee in any capacity hereunder shall have no responsibility for investment management of the securities or other assets of the Funds or for any investment decisions, initiating any trades in respect of any Fund assets, or for providing any Fund valuation or recordkeeping services, save and except for carrying out the instructions given to it pursuant to this Master Trust Agreement and for decisions made by the Trustee, other than on the written instructions of the Manager, in the exercise of the specific powers and authorities provided to the Trustee in Section 6.5. Without limitation, the Trustee in any capacity hereunder shall have no responsibility or liability whatsoever for the monitoring of any investment objectives or restrictions of the Funds.
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Related to Power and Appointment of Manager

  • Appointment of Manager The Trust hereby employs the Manager, and the Manager hereby accepts such employment, to render investment advice and related services with respect to the assets of the Fund for the period and on the terms set forth in this Agreement, subject to the supervision and direction of the Trust’s Board of Trustees.

  • Appointment of Managers With effect from the day and year stated in Box 4 and continuing unless and until terminated as provided herein, the Owners hereby appoint the Managers and the Managers hereby agree to act as the Managers of the Vessel.

  • Vacancies and Appointment of Trustees In case of the declination to serve, death, resignation, retirement or removal of a Trustee, or a Trustee is otherwise unable to serve, or an increase in the number of Trustees, a vacancy shall occur. Whenever a vacancy in the Board of Trustees shall occur, until such vacancy is filled, the other Trustees shall have all the powers hereunder and the certification of the other Trustees of such vacancy shall be conclusive. In the case of an existing vacancy, the remaining Trustees may fill such vacancy by appointing such other person as they in their discretion shall see fit, or may leave such vacancy unfilled or may reduce the number of Trustees to not less than two (2)

  • Engagement of Manager Commencing on the Effective Date, the Owner hereby appoints, retains and authorizes the Manager, and the Manager hereby accepts and agrees, to perform the Management Services and Operating Services (collectively, the “Services”) during the Term at all times in accordance with the terms and conditions set forth in this Agreement.

  • Restrictions on chartering, appointment of managers etc The Borrower shall procure that no Owner shall: (a) let the Ship owned by it on demise charter for any period; (b) other than the relevant Initial Charterparty or Future Charterparty, enter into any time or consecutive voyage charter in respect of the Ship owned by it for a term which exceeds, or which by virtue of any optional extensions may exceed, 11 months; (c) change the terms on which the Ship owned by it is employed or the identity of the person by whom that Ship is employed; (d) enter into any charter in relation to the Ship owned by it under which more than 2 months’ hire (or the equivalent) is payable in advance; (e) charter the Ship owned by it otherwise than on bona fide arm’s length terms at the time when the Ship is fixed; (f) appoint a manager of the Ship owned by it other than an Approved Manager or agree to any alteration to the terms of an Approved Manager’s appointment; (g) de-activate or lay up the Ship owned by it; or (h) put the Ship owned by it into the possession of any person for the purpose of work being done upon her in an amount exceeding or likely to exceed $250,000 (or the equivalent in any other currency) unless that person has first given to the Security Trustee and in terms satisfactory to it a written undertaking not to exercise any lien on the Ship or her Earnings for the cost of such work or otherwise.