Cooperative Operation. Borrower shall own and cooperatively operate the Project in accordance with this Agreement and the Program Requirements.
Cooperative Operation. NCRA will continue to operate on a cooperative basis, as contemplated in its Bylaws, and NCRA will continue to allocate and distribute its earnings consistent with its historic patronage policy.
Cooperative Operation. Owner will own and operate the Project as a low-income multifamily residential rental housing development property containing Dwelling Units and facilities Functionally Related and Subordinate to such Dwelling Units, in accordance with this Agreement, the Project Management Agreement, and other applicable Project Requirements.
Cooperative Operation. The relationship between INFOCUS and FUNAI shall be based on good faith cooperation and due diligence. Both INFOCUS and FUNAI shall appoint one or more program managers for each project activity to function as a commercial and technical liaison to the other party. As stated in intervals reflected in the Milestones, or more frequently as needed, INFOCUS and FUNAI shall confer regarding the progress, and each party shall report to the other regarding technical details and the progress of the Development Schedule.
Cooperative Operation. This Cooperative shall be operated on a cooperative basis in carrying out its business within the scope of the powers and purposes defined in the Articles. The net earnings of this Cooperative shall be computed under generally accepted accounting principles, unless otherwise determined by the Board, provided, however, that any change shall be on a prospective basis only. The net earnings of this Cooperative in excess of amounts credited by the Board to Capital Reserves and amounts of dividends, if any, paid with respect to equity capital shall be accounted for and distributed annually on the basis of allocation units as provided in this Article VIII. Each transaction between this Cooperative and each member shall be subject to and shall include as a part of its terms each provision of the Articles and Bylaws, whether or not the Articles or Bylaws are expressly referred to in such transaction. Each member for whom this Cooperative markets or procures goods or services shall be entitled to the net income arising out of such transaction as provided in this Article VIII, unless such member and this Cooperative have expressly agreed to conduct such business on a nonpatronage basis. No nonmember for whom this Cooperative markets or procures goods or services shall be entitled to the net income arising out of said transactions as provided in this Article VIII unless this Cooperative agrees to conduct said business on a patronage basis.
Cooperative Operation
