Unilateral Decision Making Authority

Summary

Unilateral decision-making authority allows each executive partner to make independent decisions regarding operations, financing, and ownership stakes. Unanimous consent is required only for specific instances where all parties must agree. Additionally, executive partners can make decisions regarding their spouses stake in the company. If you have concerns about a specific decision or situation, consider consulting a business attorney for personalized advice.

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"Mar and Chris are designated executive partners, each passing unilateral decision making authority regarding operations, finance, etc..." What does that mean? does it mean that Mar can make decisions without Chris? or together they make decisions together
That phrase suggests that both Mar and Chris have unilateral decision-making authority. This means each partner can make decisions independently without needing the other's approval.
Is there a specific decision or situation where you're concerned about this authority?
what does this mean "MB and CT are designated as Executive Partners, each possessing unilateral decision-making authority regarding operations, financing, and ownership stakes of the Company, except in instances where a unanimous decision of the Executive Partners is expressly required. Both MB and CT retain decision-making authority over their respective spouse's stake in the Company." and clarification needed?
This means:
- MB and CT can make decisions independently about operations, financing, and ownership stakes.
- Unanimous decision is needed only in specific instances.
- They can also make decisions regarding their spouse's stake in the Company.
Are you concerned about a specific decision or situation?
does unanimous decision need to be defined?
A unanimous decision means that all parties involved must agree on the decision for it to be valid. In this context, it means both MB and CT must agree on specific decisions where unanimous agreement is required.
Is there a particular decision or situation you're worried about that needs unanimous consent?