COSTS OF THE ORGANIZATION Sample Clauses

COSTS OF THE ORGANIZATION. 10.1 The Company shall contribute to the costs of the Organization. 10.2 The Company shall pay to the Organization annually in pounds sterling, a proportion of the total budget of the Organization. The budget will be agreed and approved by the Assembly. The approved budget will be apportioned between all Companies with which the Organization has concluded a Public Services Agreement, in accordance with the formula adopted by the Assembly (Annex 3). 10.3 The Organization will conduct consultations with the Company when preparing its budget.
Sample 1
COSTS OF THE ORGANIZATION. ‌‌ 10.1 The Company shall contribute to the costs of the Organization. 10.2 The Company shall pay to the Organization annually in pounds sterling, a proportion of the total budget of the Organization. The budget will be agreed and approved by the Assembly. The approved budget will be apportioned between all Companies with which the Organization has concluded a Public Services Agreement, in accordance with the formula adopted by the Assembly (Annex 3). 10.3 The Organization will conduct informal consultations with the Company when preparing its budget. 10.4 The Company shall indemnify the Organization against any and all costs associated with: .1 the Company referring any issue to the Assembly for resolution under the terms of paragraph 7.10 of the PSA; or .2 the Company or the Organization submitting to arbitration any dispute arising out of or in relation to the provisions of the PSA. 10.5 The Company may provide such indemnity through a suitable Legal Insurance policy, or through a legally binding instrument of indemnity provided by a government, or by any other means accepted by the Organization. The acceptance of a particular indemnity offered by any Company shall be subject to the agreement of the Organization as to it’s suitability and sufficiency.
Sample 1
COSTS OF THE ORGANIZATION. 9.1 The Company shall contribute to the costs of the Organization. 9.2 The Company shall pay fixed annual fee to the Organization annually in pounds sterling, in accordance with the IMSO Budget Arrangements, as amended. The budget will be agreed and approved by the Assembly. The approved budget will be apportioned among all Companies with which the Organization has concluded a Public Services Agreement, in accordance with the formula adopted by the Assembly. 9.3 In preparing the GMDSS budget, the Organization should consult informally with each Provider and any concerns should be notified to the Advisory Committee and the Assembly. 9.4 In the event the Organization is required to convene an extraordinary session of the IMSO Assembly, with its associated expenses, to consider an issue or issues relating to this Agreement, or otherwise incurs unanticipated expenses in undertaking its oversight responsibilities under this Agreement, the Organization may demand reimbursement of such costs provided it submits documentary evidence of such expenses to the Company. The Company in turn will enter into negotiation to establish the amount of an additional payment, if any, that it might reasonably be required to make to reimburse the Organization, taking into account the possibility that other Providers might also be expected to share in the reimbursement of such expenses under separate Agreements. The outcome of such negotiation, whether or not it reaches a mutually agreed outcome, shall be brought to the attention of the IMSO Assembly for any action it considers to be appropriate. 9.5 In the event this Agreement is terminated with immediate effect as a result of insolvency of the Company the Organization shall retain any monies already contributed by the Company during the current calendar year. Thereafter, the Organization shall rely on the remaining Provider(s) for the GMDSS Budget. 9.6 If this Agreement is terminated with immediate effect pursuant to clause 7.11 or 8.6 due to the Company's failure to rectify a non-compliance pursuant to clause 7.11 or its failure to implement the decisions of the arbitrator under clause 8.6, the Company shall continue to pay the Organization its share of the GMDSS budget for the remaining part of the IMSO biennium.
Sample 1
COSTS OF THE ORGANIZATION. 8.1 The Company shall indemnify the Organization against any and all costs associated with the Company or the Organization submitting to arbitration any dispute arising out of or in relation to the provisions of this Agreement. 8.2 The Company may provide such indemnity through a suitable Legal Insurance policy, or through a legally binding instrument of indemnity provided by a government, or by any other means accepted by the Organization. The acceptance of a particular indemnity offered by any Company shall be subject to the agreement of the Organization as to its suitability and sufficiency.
Sample 1

Related to COSTS OF THE ORGANIZATION

  • Corporate Organization (a) Seller is a corporation duly organized, validly existing and in corporate good standing under the laws of the State of Delaware. Seller has all requisite corporate power and authority to own, lease or operate all of its properties and assets and to carry on its business as it is now being conducted. Seller is duly licensed or qualified to do business and is in corporate good standing in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned, leased or operated by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified and in corporate good standing has not and would not reasonably be expected to have, either individually or in the aggregate, a Seller Material Adverse Effect. The Certificate of Incorporation and the Bylaws of Seller, copies of which have previously been made available to Parent and Purchaser, are true, correct, and complete copies of such documents as currently in effect. (b) Section 5.1(b) of the Seller Disclosure Schedule sets forth the name and jurisdiction of organization of each Subsidiary of Seller. Each of Seller’s Subsidiaries is duly organized, validly existing and, if applicable, in corporate good standing under the laws of the jurisdiction of its organization. Each of Seller’s Subsidiaries has all requisite corporate power and authority to own, lease or operate all of its properties and assets and to carry on its business as it is now being conducted. Each of Seller’s Subsidiaries is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned, leased, or operated by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified and in good standing has not had and would not reasonably be expected to have, either individually or in the aggregate, a Seller Material Adverse Effect. (c) The articles or certificate of incorporation and bylaws or equivalent organizational documents of each of the Subsidiaries of the Seller, copies of which have previously been made available to Parent and Purchaser, are true, correct, and complete copies of such documents as currently in effect.

  • Organizational Expenses; Liabilities of the Holders (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. (b) No Certificateholder (including the Seller if the Seller becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.

  • Professional Organizations During the Term, Executive shall be reimbursed by the Company for the annual dues payable for membership in professional societies associated with subject matter related to the Company's interests. New memberships for which reimbursement will be sought shall be approved by the Company in advance.

  • Corporate Organization, Etc The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation with full corporate power and authority to carry on its business as it is now being conducted and to own, operate and lease its properties and assets. The Purchaser is duly qualified or licensed to do business in good standing in every jurisdiction in which the conduct of its business, the ownership or lease of its properties, or the transactions contemplated by this Agreement, require it to be so qualified or licensed and the failure to be so qualified or licensed would have a Material Adverse Effect on its business.

  • Due Organization The Seller is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has all licenses necessary to carry on its business now being conducted and is licensed, qualified and in good standing under the laws of each state where a Mortgaged Property is located or is otherwise exempt under applicable law from such qualification or is otherwise not required under applicable law to effect such qualification; no demand for such qualification has been made upon the Seller by any state having jurisdiction and in any event the Seller is or will be in compliance with the laws of any such state to the extent necessary to enforce each Mortgage Loan and with respect to Cendant Mortgage, service each Mortgage Loan in accordance with the terms of this Agreement.

  • Outside Activities of the Limited Partners Subject to the provisions of Section 7.5, which shall continue to be applicable to the Persons referred to therein, regardless of whether such Persons shall also be Limited Partners, any Limited Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities in direct competition with the Partnership Group. Neither the Partnership nor any of the other Partners shall have any rights by virtue of this Agreement in any business ventures of any Limited Partner.

  • Expenses of the Sub-Adviser During the term of this Agreement, the Sub-Adviser will pay all expenses (including without limitation the compensation of all trustees or officers of the Trust, if any, who are "interested persons" of the Sub-Adviser, as defined in the 0000 Xxx) incurred by it in connection with its activities under this Agreement other than the cost of securities and investments purchased for the Funds (including taxes and brokerage commissions, if any). Notwithstanding the foregoing, the Sub-Adviser is not obligated to pay the compensation or expenses of the Trust's Chief Compliance Officer, regardless of whether the Chief Compliance Officer is affiliated with the Sub-Adviser.

  • Corporate Organization and Good Standing The Company is a corporation ---------------------------------------- duly organized, validly existing, and in good standing under the laws of the State of Delaware and is duly qualified and in good standing in all other states where the nature of its business or operations or the ownership of its property requires such qualification.

  • ACTIVITIES OF THE SUB-ADVISER The services of the Sub-Adviser to the Funds are not to be deemed to be exclusive, the Sub-Adviser and any person controlled by or under common control with the Sub-Adviser (for purposes of this Article IV referred to as "affiliates") being free to render services to others. It is understood that directors, officers, employees and shareholders of the Funds are or may become interested in the Sub-Adviser and its affiliates, as directors, officers, employees and shareholders or otherwise and that directors, officers, employees and shareholders of the Sub-Adviser, INVESCO and their affiliates are or may become interested in the Funds as directors, officers and employees.

  • Other Business Activities of the Note Holders Each Note Holder acknowledges that each other Note Holder or its Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower (each, a “Mortgage Loan Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.