Business Divisions Clause Samples

Business Divisions. The Company shall conduct one category of business activities: The operation of the Transloading Facility for transloading petroleum and similar products from transport trucks to rail cars, either for its own account or for third parties.”

Business Divisions. The Company shall conduct two categories of business activities: (i) The operation of the Transloading Facility for transloading petroleum and similar products from transport trucks to rail cars, either for its own account or for third parties. (ii) The purchase of hydrocarbons produced in North Dakota and the marketing thereof to refineries or other end users.

Business Divisions. (a) All trading between the building materials and wood import/treatment business divisions of the Company and the Subsidiaries (the “Business Divisions”) has been on an arm’s length basis. (b) All costs of the Company and the Subsidiaries have been properly allocated to the Business Divisions having regard to the Business Division for the benefit of which those costs were incurred.

Business Divisions. (a) The Retirement Services business of the Company is conducted only by the entities listed on Section 4.33(a) of the Company Disclosure Schedule and the employees of such entities, and such entities and such employees do not conduct any business of the Business Divisions other than Retirement Services. (b) The Fund Services business of the Company is conducted only by the entities listed on Section 4.33(b) of the Company Disclosure Schedule and the employees of such entities, and such entities and such employees do not conduct any business of the Business Divisions other than Fund Services. (c) The Alternative Investment Services business of the Company is conducted only by the entities listed on Section 4.33(c) of the Company Disclosure Schedule and the employees of such entities, and such entities and such employees do not conduct any business of the Business Divisions other than Alternative Investment Services. (d) The Life Insurance Services business of the Company is conducted only by the entities listed on Section 4.33(d) of the Company Disclosure Schedule and the employees of such entities, and such entities and such employees do not conduct any business of the Business Divisions other than Life Insurance Services. (e) The Commercial Insurance Services business of the Company is conducted only by the entities listed on Section 4.33(e) of the Company Disclosure Schedule and the employees of such entities, and such entities and such employees do not conduct any business of the Business Divisions other than Commercial Insurance Services. (f) The Company and its subsidiaries own all of the shares of capital stock, or other equity or voting interests in each of the entities listed on Sections 4.34(a-e) of the Company Disclosure Schedule. All outstanding shares of capital stock of, or other equity or voting interests in such entities are duly and validly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of preemptive or similar rights. All such capital stock, equity or voting interests are owned by the Company and its subsidiaries free and clear of any Liens.