CONTROL AND MAJOR ACCOUNTS Sample Clauses
The 'Control and Major Accounts' clause defines how significant or strategically important client accounts are managed and overseen within a contractual relationship. Typically, this clause outlines which party has authority over major accounts, sets criteria for what constitutes a 'major account,' and may specify procedures for handling these clients, such as requiring joint approval for key decisions or restricting reassignment of account management. Its core function is to ensure that both parties have clarity and agreement on the handling of high-value or critical accounts, thereby minimizing disputes and protecting the interests of both sides in relation to their most important business relationships.
CONTROL AND MAJOR ACCOUNTS. (a) Exploration Obligation Control Accounts: CONTRACTOR will establish an Exploration Obligation Control Account and an offsetting contra account to control therein the total amount of Exploration expenditures reported on Statements of activity prepared per Article I (b) (1) of this Annex, less any reductions agreed to by EGPC and CONTRACTOR following written exceptions taken by a non-operator pursuant to Article I (c) (1) of this Annex, in order to determine when minimum Exploration obligations have been met.
CONTROL AND MAJOR ACCOUNTS. 6.1 COST RECOVERY CONTROL ACCOUNT Contractor will establish a cost recovery control account and an offsetting Agreement account to control therein the amount of cost remaining to be recovered, if any, and the amount of cost recovered.