Background and Interpretation of the Brief Sample Clauses

Background and Interpretation of the Brief. The main purpose of this research is to provide a report of analysis of and findings about the motivations for UK company listing activities, and other associated corporate governance issues. The current UK Coalition Government is concerned with facilitating business growth and understands that Mid-Size Businesses (MSBs), defined as businesses with current sales turnover of between £25m and £500m and which may include larger businesses with more than 250 employees, may be an important driver of growth in the UK economy. The mid-cap market represents approximately 15,000 UK businesses, which are established, major employers (51 per cent in the BIS 2010 survey had more than 250 staff) that can make a vital contribution to the UK’s economic recovery. However, there have been concerns that the post 2008 recession reductions in bank lending might also reflect reduced demand, with businesses operating in uncertain and declining markets exercising cautious retrenchment, leading to a reduction in the level of business development investment (Fraser, 2010) and less reliance on external finance. Findings from the recent BIS (2011) research into MSB growth indicated that whilst some MSBs may hold substantial reserve surpluses of funds, they are reluctant to invest in the current market, due to uncertainties and a lack of perceived credible investment opportunities. It should also be noted that few UK businesses use equity funding (less than 2%) and even fewer obtain listing status and that there is a reluctance amongst many family owned and traditional independent MSBs towards external equity, external management influences and the short term approach to business development that this might entail. On the other hand, CEEDR’s BIS (2011) research also demonstrated that some of the most successful UK growth MSBs have been driven by external finance and related Non Executive Director assistance. The Xxx Review (July, 2012) provided a critical assessment of UK equity markets and how they can work more effectively in providing returns to investors and growth for companies. Xxx highlights the problems of short-termism in UK equity markets, primarily focusing on the nature of relationships which arise between market participants and the incentives they face, noting that underlying causes of recent problems are characterised by the decline of trust and the presence of misaligned incentives in these relationships. In xxxxx Xxx indicates that there has been a growth in financia...
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Related to Background and Interpretation of the Brief

  • Clarifications and Interpretations It may be determined that clarifications or interpretations of the Contract Documents are necessary. Upon direction by the ODR such clarifications or interpretations will be provided by the A/E consistent with the intent of the Contract Documents. The A/E will issue these clarifications with reasonable promptness to the Contractor as Architect’s Supplemental Instruction (ASI) or similar instrument. If Contractor believes that such clarification or interpretation justifies an adjustment in the Contract Sum or the Contract Time, the Contractor shall so notify the Owner in accordance with the provisions of Article 11.

  • Definitions and Interpretations The terms "specifically approved at least annually," "vote of a majority of the outstanding voting securities," "assignment," "affiliated person," and "interested person," when used in this Agreement, shall have the respective meanings specified, and shall be construed in a manner consistent with, the Investment Company Act of 1940 and the rules and regulations promulgated thereunder. Any question of interpretation of any term or provision of this Agreement having a counterpart in or otherwise derived from a term or provision of the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933, or the Securities Exchange Act of 1934 (collectively, the "Federal Securities Acts") shall be resolved by reference to such term or provision of the Federal Securities Acts and to interpretations thereof, if any, by United States federal courts or, in the absence of any controlling decisions of any such court, by rules or regulations of the Securities and Exchange Commission. Where the effect of a requirement of the Federal Securities Acts reflected in any provision of this Agreement is revised by rule or regulation of the Securities and Exchange Commission, such provisions shall be deemed to incorporate the effect of such rule or regulation.

  • Definitions and Interpretation 1.1 In this Agreement:

  • Intention of the Parties and Interpretation Each of the parties acknowledges and agrees that the purpose of Article XI of this Agreement is to facilitate compliance by the Securities Administrator, the Master Servicer and the Depositor with the provisions of Regulation AB promulgated by the SEC under the 1934 Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be amended from time to time and subject to clarification and interpretive advice as may be issued by the staff of the SEC from time to time. Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) the parties shall comply (to the extent practical from a timing and information systems perspective) with requests made by the Securities Administrator, the Master Servicer or the Depositor for delivery of additional or different information as the Securities Administrator, the Master Servicer or the Depositor may determine in good faith is necessary to comply with the provisions of Regulation AB, and (d) no amendment of this Agreement shall be required to effect any such changes in the parties’ obligations as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.

  • Construction and Interpretation Should any provision of this Agreement require judicial interpretation, the parties hereto agree that the court interpreting or construing the same shall not apply a presumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that a document is to be more strictly construed against the party that itself, or through its agent, prepared the same, and it is expressly agreed and acknowledged that Company and Executive and each of his and its representatives, legal and otherwise, have participated in the preparation hereof.

  • Definition and Interpretation 1.1 Except as otherwise defined in the terms or context hereof, the following terms in this Agreement shall have the following meanings:

  • Captions and Interpretation The captions used in this Agreement are for convenience only. They do not affect the meaning of the paragraphs in this Agreement.

  • Defined Terms and Interpretation 1.1 In this Agreement, save where the context requires otherwise, the following words, terms and expressions shall have the following meanings:

  • Captions and Interpretations Paragraph headings in this Agreement are used solely for convenience, and shall be wholly disregarded in the construction of this Agreement. No provision of this Agreement shall be interpreted for or against a party because that party or its legal representative drafted such provision, and this Agreement shall be construed as if jointly prepared by the Parties.

  • Interpretation of the Agreement The laws of the Commonwealth of Pennsylvania shall govern this Agreement.

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