Constitution and nature Sample Clauses

Constitution and nature. The Grupo is governed by the provisions of this agreement, by the applicable cooperative and capital company legislation and by all the regulations in force from time to time for credit institutions. The member institutions shall have full independence, their own legal personality and autonomy of management, administration and governance, except for that which is expressly delegated to the head institution of the Grupo. In particular and without limitation, the head entity shall be delegated all the powers included in this agreement and, in particular, those indicated in clause twelfth, in the event that (i) the Board of Directors of the head entity has approved the activation of the recovery plan drawn up in accordance with Law 11/2015 of 18 June 2015 on the recovery and resolution of credit institutions and investment services companies (hereinafter, "Law 11/2015"); or (ii) the Grupo fails or is expected to fail to comply with prudential requirements in accordance with the applicable regulations; or (iii) the head entity considers that there are objective elements according to which it is reasonably foreseeable that the necessary circumstances exist or may exist in the near future for the opening of a resolution process pursuant to article 19 of Law 11/2015, of one or more member entities or of the Grupo itself; or (iv) a resolution process of the Grupo is opened pursuant to article 19 of Law 11/2015; or (v) the competent supervisor so decides, as a preventive measure, pursuant to article 9 of Law 11/2015 on early action measures once the necessary conditions are met pursuant to article 8 of the same Law 11/2015; or (vi) the opening of an insolvency proceeding is foreseen; or (vii) a resolution process of the Grupo is foreseen pursuant to article 8 of the same Law 11/2015, or (viii) a resolution process of the Grupo is opened pursuant to article 19 of Law 11/2015, or the same is effectively declared, of any of the Grupo entities. The occurrence of any of the events in the preceding paragraph will activate the "Special Powers Delegation Date", which will last for as long as the situation that gave rise to its activation continues to exist. The Grupo is configured as a single functional entity that integrates its member entities to meet the purposes set out in this agreement.
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Related to Constitution and nature

  • Formation and Name Office; Purpose; Term

  • Authorization and No Contravention The execution, delivery and performance by the Servicer of the Transaction Documents to which it is a party have been duly authorized by all necessary action on the part of the Servicer and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its organizational documents or (iii) any material indenture or material agreement to which the Servicer is a party or by which its properties are bound, in each case, other than violations of such laws, rules, regulations, organizational documents, indentures or agreements which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Servicer’s ability to perform its obligations under, the Transaction Documents.

  • RECOGNITION AND SCOPE 1.01 The Company agrees to recognize the Union as the sole collective bargaining agent for employees covered by this Agreement. 1.02 This Agreement shall apply to all Craft and Services employees of the Company covered by the certification order of The Canada Labour Relations Board dated May 28, 1976. When the parties mutually agree that a new occupation established during the term of this Agreement has clearly a number of significant points in common with the other occupations within the unit, such new occupation shall fall within the scope of this Agreement.

  • Organization and Related Matters Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

  • Execution of Agreements The Purchasers shall have executed this Agreement and delivered this Agreement to the Company.

  • RECOGNITION AND NEGOTIATIONS The Employer or anyone authorized to act on their behalf recognizes the Union as the sole collective bargaining agency for its employees classified and covered by this Agreement. The Employer agrees to negotiate with the Union or anyone authorized to act on behalf of the Union, in any and all matters affecting the relationship between the parties to this Agreement.

  • Incorporation and Organization The Corporation has been incorporated or formed, as the case may be, is organized and is a valid and subsisting corporation or partnership, as the case may be, under the laws of its jurisdiction of existence and has all requisite corporate power and capacity to carry on its business as now conducted or proposed to be conducted and to own or lease and operate the property and assets thereof.

  • Formation and Purpose Promptly following the Effective Date, the Parties shall confer and then create the JSC and the IPC, and, optionally, create one or more of the other Committees listed in the chart below. Each Committee shall have the purpose indicated in the chart. To the extent that after conferring both Parties agree to not create a Committee (other than the JSC and the IPC), the creation of such Committee shall be deferred until one Party informs the other Party of its then desire to create the so-deferred Committee, at which point the Parties will thereafter promptly create the so-deferred Committee. Joint Steering Committee (“JSC”) Establish projects for the Bacteriophage Program and establish the priorities, as well as approve budgets for such projects. Approve all subcommittee projects and plans (except for decisions of the IPC). The JSC shall establish budgets not less than on a quarterly basis. Chemistry, Manufacturing and Controls Committee (“CMCC”) Establish project plans and review and approve activities and budgets for chemistry, manufacturing, and controls under the Bacteriophage Program. Regulatory Committee (“RC”) Review and approve all research and development plans and projects, including clinical projects, associated with any necessary regulatory approvals, all associated publications, and all regulatory filings and correspondence relating to gaining regulatory approval for new Ampliphi Products under the Bacteriophage Program; and review and approve itemized budgets with respect to the foregoing. Commercialization Committee (“CC”) Establish project plans and review and approve activities and budgets for Commercialization activities under the Bacteriophage Program. Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission. Intellectual Property Committee (“IPC”) Evaluate all intellectual property issues in connection with the Bacteriophage Program; review and approve itemized budgets with respect to the foregoing.

  • Organization and Standing The Company is a corporation duly formed, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite power and authority to own and operate its properties and assets, to execute and deliver this Subscription Agreement, and any other agreements or instruments required hereunder. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business.

  • Execution and Effect of Agreement Buyer has the requisite corporate power and authority to enter into this Agreement and to perform its obligations hereunder, and the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby and the performance of Buyer’s obligations hereunder have been duly authorized by all necessary corporate action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and constitutes the legal, valid and binding obligation of Buyer, enforceable against it in accordance with its terms, subject to the Enforceability Exceptions.

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