The Administrative Committee shall be given such specific powers in addition to foregoing as the Joint Ventures may from time to time delegate and they shall also have the power to delegate to such person or persons as they may determine such of their powers as they deem necessary or convenient in the best interests of the parties hereto. If necessary or desirable, each of the parties hereto shall execute and deliver to their respective designees such power of attorney as may be required to enable them to properly perform the duties entrusted to them. It is understood and agreed that none of the parties hereto nor any of the designees or alternates shall have the power to borrow moneys for, in the name of, or to pledge the credit of, the other party to this agreement or on their joint credit.