BUSINESS UNDERTAKINGS Sample Clauses

BUSINESS UNDERTAKINGS. 12.1 The Founders will promote the best interests of the Company and ensure that the Business is conducted in accordance with the Business Plan and with good business practice.
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BUSINESS UNDERTAKINGS. 11.1 The Founders severally undertake, so far as it lies within their respective power to do so, to use their reasonable endeavors to promote the best interests of the Company and so far as it lies within their respective power shall ensure that Ore Business is conducted with good business practice.
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BUSINESS UNDERTAKINGS. The Company and ICTS severally undertake to the Investors to procure that, so far as it lies within their respective power to do so, the Company shall comply with each of the requirements set out in schedule 3.
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BUSINESS UNDERTAKINGS clause 11 This clause includes a number of undertakings that provide the investors with additional comfort as to the manner in which the business will be conducted. It includes provisions whereby the managers agree to promote the best interests of the company and ensure that its business is conducted in accordance with the business plan (clause 11.1). The company also agrees that it will apply the proceeds from the investment round in accordance with the business plan (clause 11.2). Restrictive covenants: clause 12 Restrictive covenants are commonly entered into as part of seed fund raising. This is because, the investment is often based on the experience of the management team and the founders, and if they were to leave the company to create or work for a competitor, they could significantly affect the company's value. These provisions are often included both in the investment agreement and in the managers' service agreements. Clause 12 of the seed investment agreement imposes a number of restrictions on the managers to the effect that they will not, while an employee or director of the company be involved in any competing business with the company, and for a specified period after the directorship or employment ceases and they will not carry on a competing business or solicit customers, suppliers or employees from the business. Under the common law doctrine of restraint of trade, the UK courts will refuse to enforce a restrictive covenant if, the scope of the covenant goes beyond what is reasonable as regards: the activities which the managers are prohibited from pursuing when they leave the company; the geographical scope; and the duration of the covenant. In view of this, the parties should seek to ensure that the restrictive covenants are reasonable. Clause 12.2 of the seed investment agreement states that the clause is seen as reasonable by the parties but if the court does not agree, this clause is also an attempt to persuade the court to delete those restrictions which are unreasonable. Note that the courts will not re-write a clause and so deletion of offending restrictions will only work if obligations are sufficiently distinct to allow parts to be separated. Confidentiality and Announcements: clause 13
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BUSINESS UNDERTAKINGS. 3.1 The Company undertakes to the Shareholders to:
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BUSINESS UNDERTAKINGS. 11.1 The Company shall apply the proceeds of the subscription by the Investors and any Additional Investors for New Shares in the furtherance of its business in accordance with the Business Plan.
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BUSINESS UNDERTAKINGS. 6.1 The Manager shall promote the best interests of the Company and ensure, so far as he is able, that the Business is conducted in accordance with the Business Plan and the Budget and with good business practice.
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BUSINESS UNDERTAKINGS. 7.1. The Company shall apply the proceeds of the subscription by the Investors for the New Shares in the furtherance of the Business in accordance with the Business Plan and the Budget.
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Related to BUSINESS UNDERTAKINGS

  • Services to Other Clients; Certain Affiliated Activities (a) The relationship between the Asset Manager and the Series is as described in this Agreement and nothing in this Agreement, none of the services to be provided pursuant to this Agreement, nor any other matter, shall oblige the Asset Manager to accept responsibilities that are more extensive than those set forth in this Agreement.

  • Employment and Consulting Agreements Xxxxxxx X. Xxxx and Xxxx X. Xxxxxx shall have executed and delivered employment agreements with BRI, and Xxxxxx Xxxx shall have executed and delivered a Consulting Agreement with BRI.

  • Restrictions on Business Activities There is no agreement, commitment, judgment, injunction, order or decree binding upon the Company or to which the Company is a party which has or could reasonably be expected to have the effect of prohibiting or materially impairing any business practice material to the Company, any acquisition of property by the Company or the conduct of business by the Company as currently conducted or as proposed to be conducted.

  • Bank Provides Diverse Financial Services and May Generate Profits as a Result Customer acknowledges that Bank or its Affiliates may have a material interest in transactions entered into by Customer with respect to the Account or that circumstances are such that Bank may have a potential conflict of duty or interest. For example, Bank or its Affiliates may act as a market maker in the Financial Assets to which Instructions relate, provide brokerage services to other customers, act as financial adviser to the issuer of such Financial Assets, act in the same transaction as agent for more than one customer, have a material interest in the issue of the Financial Assets, or earn profits from any of these activities. Customer acknowledges that Bank or its Affiliates may be in possession of information tending to show that the Instructions received may not be in the best interests of Customer. Bank is not under any duty to disclose any such information.

  • Investment Management and Related Activities Except as set forth on Schedule 3.25 of the Company Disclosure Schedule, none of the Company, any of its Subsidiaries or the Company’s or its Subsidiaries’ directors, officers or employees is required to be registered, licensed or authorized under the laws or regulations issued by any Governmental Authority as an investment adviser, a broker or dealer, an insurance agency or company, a commodity trading adviser, a commodity pool operator, a futures commission merchant, an introducing broker, a registered representative or associated person, investment adviser, representative or solicitor, a counseling officer, an insurance agent, a sales person or in any similar capacity with a Governmental Authority.

  • Confidential Information and Restricted Activities Employee has entered into the Company’s Employee Proprietary Information Agreement (“EPIA”) and acknowledges his or her obligations thereunder. The EPIA is specifically incorporated into this Agreement.

  • Scope of Services The specific scope of work for each job shall be determined in advance and in writing between TIPS Member, Member’s design professionals and Vendor. It is permitted for the TIPS Member to provide a general scope description, but the awarded vendor should provide a written scope of work, and if applicable, according to the TIPS Member’s design Professional as part of the proposal. Once the scope of the job is agreed to, the TIPS Member will issue a PO and/or an Agreement or Contract with the Job Order Contract Proposal referenced or as an attachment along with bond and any other special provisions agreed by the TIPS Member. If special terms and conditions other than those covered within this solicitation and awarded Agreements are required, they will be attached to the PO and/or an Agreement or Contract and shall take precedence over those in this base TIPS Vendor Agreement.

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