Status of Manager. It is the intention of the parties to create a relationship wherein Manager and Subaccounting Manager are independent contractors in the management, operation and maintenance of the Premises, and Owner is the beneficiary of such management, operation and maintenance. Nothing herein contained shall be construed as creating the relationship of employer-employee, principal-agent or establishing any partnership or joint venture arrangement between Owner and Manager. Manager shall afford Owner the full benefit of the judgment, experience and advice of Manager and Manager’s organization with respect to the policies to be pursued in management, and the execution of its responsibilities in a diligent, careful and vigilant manner.
Appears in 2 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement (KBS Strategic Opportunity REIT, Inc.)