Acceptable Person Clause Samples
The 'Acceptable Person' clause defines the criteria or qualifications that an individual or entity must meet to be considered suitable for a specific role or responsibility under the agreement. Typically, this clause outlines standards such as professional credentials, experience, reputation, or compliance with legal requirements, and may apply to parties like subcontractors, assignees, or representatives. By clearly specifying who qualifies as an 'Acceptable Person,' the clause helps ensure that only trustworthy and competent individuals or organizations are involved, thereby reducing risk and maintaining the integrity of the contractual relationship.
Acceptable Person. Any person who or which is not (i) a tax exempt organization as defined in Section 501(c) of the Code, (ii) a person whose direct or indirect participation in the Company would result in a Plan Violation or (iii) in default or in breach, beyond any applicable grace period, of its obligations under any material written agreement with CNL or any of its Affiliates. Act. The Delaware Limited Liability Company Act, 6 Delaware Code, Section 18-101 et. seq. (or any corresponding provisions of succeeding law), as in effect at the time of the initial filing of the Certificate, and as thereafter amended from time to time.
Acceptable Person. Any Person that is not (i) a tax exempt organization as defined in Section 501(c) of the Code, (ii) a Person whose direct or indirect participation in the Company would result in a Plan Violation, or (iii) in default or in breach, beyond any applicable grace period, of its obligations under any material written agreement with Prudential or any Affiliate of it.
Acceptable Person. Any person that is not (i) a tax exempt organization as defined in Section 501(c) of the Code, (ii) a nonresident alien, foreign corporation, foreign partnership, foreign trust or foreign estate as those terms are defined in the Code and the Treasury Regulations, (iii) a person whose direct or indirect participation in the Company would result in a Plan Violation, (iv) in default or in breach, beyond any applicable grace period, of its obligations under any material written agreement with SHP or which, directly or indirectly controls, is controlled by, or is under common control with a person that is in default or in breach, beyond any applicable grace period, of its obligations under any material written agreement with SHP, unless such default or breach has been cured by such person or waived in writing by SHP, or (v) a person that has been charged in any litigation with any violations of any statute pursuant to which there might be a civil or criminal forfeiture or has been convicted in a criminal proceeding for a felony or any crime involving moral turpitude or that is an organized crime figure or is reputed (based upon reputable media reports) to have substantial business or other affiliations with an organized crime figure, or which directly or indirectly controls, is controlled by, or is under common control with a person that has been charged in any litigation with any violations of any statute pursuant to which there might be a civil or criminal forfeiture or has been convicted in a criminal proceeding for a felony or any crime involving moral turpitude or which is an organized crime figure or is reputed (based upon reputable media reports) to have substantial business or other affiliations with an organized crime figure. Act. The Delaware Limited Liability Company Act.