CONDUCT AND CONTROL OF OPERATIONS Sample Clauses

CONDUCT AND CONTROL OF OPERATIONS. 3.1 The parties intend for APACHE to have ultimate responsibility for the conduct and control of operations through management and control of the Polish commercial partnership which holds the Western Carpathian Usufruct. To this end, the parties will promptly prepare amendments to the existing Partnership Agreement, and prepare a Joint Operating Agreement and Accounting Procedure (collectively with this Agreement, the "Operating Documents"). In the event the anticipated structure or parties are changed, the Operating Documents shall be changed accordingly.
Sample 1
AutoNDA by SimpleDocs
CONDUCT AND CONTROL OF OPERATIONS. 3.1 Subject to full performance and a timely election by APACHE, the parties intend for APACHE to have ultimate responsibility for the conduct and control of operations through management and control of the Polish commercial partnership which holds the Pomeranian Usufruct. To this end, the parties will promptly prepare amendments to the existing Partnership Agreement, and prepare Joint Operating Agreements and Accounting Procedures (collectively with this Agreement, the "Operating Documents"). In the event the anticipated structure or parties are changed, the Operating Documents shall be changed accordingly.
Sample 1
CONDUCT AND CONTROL OF OPERATIONS. 3.1 The parties intend for APACHE to have ultimate responsibility for the conduct and control of operations. The parties also anticipate that one or more Polish commercial partnerships comprised of Lubex and one or more other Polish limited liability companies to be designated will be the sole owner of the FX Usufructs, and that FXEN and APACHE will hold their respective interests via direct or indirect equity ownership in Lubex and such other limited liability company. Accordingly, the parties will promptly prepare Partnership Agreements, Joint Operating Agreements and Accounting Procedures (collectively with this Agreement, the "Operating Documents"). In the event the anticipated structure or parties are changed, the Operating Documents shall be changed accordingly.
Sample 1

Related to CONDUCT AND CONTROL OF OPERATIONS

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Maintenance of Operations The Servicer agrees to continue to operate its distribution system to provide service to its customers so long as it is acting as the Servicer under this Agreement.

  • Business Operations Company and Shareholders shall operate the Business and use the Assets in the ordinary course. Company and Shareholders shall not enter into any lease, contract, indebtedness, commitment, purchase or sale or acquire or dispose of any capital asset relating to the Business or the Assets except in the ordinary course of business. Company and Shareholders shall use their best efforts to preserve the Business and Assets intact and shall not take any action that would have an adverse effect on the Business or Assets. Company and Shareholders shall use their best efforts to preserve intact the relationships with payors, customers, suppliers, patients and others having significant business relations with Company. Company and Shareholders shall collect its receivables and pay its trade payables in the ordinary course of business. Company and Shareholdes shall not introduce any new method of management, operations or accounting.

  • Operations As of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations other than organizational activities and activities in connection with offerings of its securities.

  • Management and Control of the Company The Manager shall direct, manage and control the business of the Company to the best of such Manager’s ability and shall have full and complete authority, power and discretion to make any and all decisions and to do any and all things which the Manager shall deem to be reasonably required in light of the Company’s business and objectives.

  • No Control of the Company’s Business Nothing contained in this Agreement is intended to give Parent, directly or indirectly, the right to control or direct the Company’s or its subsidiaries’ operations prior to the Effective Time. Prior to the Effective Time, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its and its subsidiaries’ operations.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!