Common use of Engagement and Term Clause in Contracts

Engagement and Term. On the terms and subject to the conditions described in this Agreement, the Managed Companies hereby engage State Auto P&C, and State Auto P&C hereby accepts such engagement, to provide Management and Operations Services to the Managed Companies as any of such Managed Companies requires to operate its business. Any of State Auto P&C’s employees may also serve as directors or officers of any of the State Auto Companies, notwithstanding that such persons may also be officers or directors of State Auto P&C or other affiliates. State Auto P&C shall also be entitled to continue using its employees to conduct all of its business operations, notwithstanding that such persons will be performing services for other State Auto Companies as well. To the extent reasonably possible, the parties shall jointly utilize State Auto P&C’s employees in a cooperative manner and consistent with the business interests and needs of the State Auto Companies. State Auto P&C shall direct its employees performing such services for each of the Managed Companies to use their best efforts to promote the general interests and economic welfare of each of the Managed Companies to the same extent as such employees provide to State Auto P&C. The term of State Auto P&C’s engagement under this Agreement shall begin on the date of this Agreement and shall end, unless sooner terminated in accordance with the provisions of Section 9 below, on the tenth anniversary of this Agreement. This Agreement shall be automatically renewed for successive ten-year periods upon the same terms and conditions contained in this Agreement, unless and until terminated as described in Section 9 below.

Appears in 2 contracts

Samples: Management and Operations Agreement (State Auto Financial CORP), Management and Operations Agreement (State Auto Financial Corp)

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Engagement and Term. On the terms and subject to the conditions described in this Agreement, the Managed Companies hereby engage State Auto P&C, and State Auto P&C hereby accepts such engagement, to provide Management and Operations Services to the Managed Companies as any of such Managed Companies requires to operate its business. Any of State Auto P&C’s employees may also serve as directors or officers of any of the State Auto Companies, notwithstanding that such persons may also be officers or directors of State Auto P&C or other affiliates. State Auto P&C shall also be entitled to continue using its employees to conduct all of its business operations, notwithstanding that such persons will be performing services for other State Auto Companies as well. To the extent reasonably possible, the parties shall jointly utilize State Auto P&C’s employees in a cooperative manner and consistent with the business interests and needs of the State Auto Companies. State Auto P&C shall direct its employees performing such services for each of the Managed Companies to use their best efforts to promote the general interests and economic welfare of each of the Managed Companies to the same extent as such employees provide to State Auto P&C. The term of State Auto P&C’s engagement under this Agreement shall begin on the date of this Agreement and shall end, unless sooner terminated in accordance with the provisions of Section 9 below, on the tenth anniversary of this Agreement. This Agreement shall be automatically renewed for successive ten-year periods upon the same terms and conditions contained in this Agreement, unless and until terminated as described in Section 9 below. 3.

Appears in 1 contract

Samples: Management and Operations Agreement

Engagement and Term. On the terms and subject to the conditions described in this Agreement, the Managed Xxxxxxxx Companies hereby engage State Auto P&C, and State Auto P&C hereby accepts such engagement, to provide Management management and Operations Services operations services to the Managed Xxxxxxxx Companies as any of such Managed Xxxxxxxx Companies requires to operate its business. Any of State Auto P&C’s employees may also serve as directors or officers of any of the State Auto Companies, Xxxxxxxx Companies notwithstanding that such persons may also be officers or directors of State Auto P&C P&C, Mutual or other affiliates. State Auto P&C shall also be entitled to continue using its employees to conduct all of its business operations, notwithstanding that some such persons will be performing services for the Xxxxxxxx Companies and other State Auto Companies affiliates as well. To the extent reasonably possible, the parties shall jointly utilize State Auto P&C’s employees in a cooperative manner and consistent with the business interests and needs of the State Auto CompaniesP&C and its affiliates. State Auto P&C shall direct its employees performing such services for each of the Managed Xxxxxxxx Companies to use their best efforts to promote the general interests and economic welfare of each of the Managed Xxxxxxxx Companies to the same extent as such employees provide to State Auto P&C. The term of State Auto P&C’s engagement under this Agreement shall begin on the date of this Agreement and shall end, unless sooner terminated in accordance with the provisions of Section 9 10 below, on the tenth anniversary of this Agreement. This Agreement shall be automatically renewed for successive ten-year periods upon the same terms and conditions contained in this Agreement, unless and until terminated as described in Section 9 10 below.

Appears in 1 contract

Samples: Management and Operations Agreement (State Auto Financial CORP)

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Engagement and Term. On the terms and subject to the conditions described in this Agreement, the Managed Xxxxxxxx Companies hereby engage State Auto P&C, and State Auto P&C hereby accepts such engagement, to provide Management and Operations Services to the Managed Xxxxxxxx Companies as any of such Managed Xxxxxxxx Companies requires to operate its business. Any of State Auto P&C’s employees may also serve as directors or officers of any of the State Auto Companies, Xxxxxxxx Companies notwithstanding that such persons may also be officers or directors of State Auto P&C P&C, Mutual or other affiliates. State Auto P&C shall also be entitled to continue using its employees to conduct all of its business operations, notwithstanding that such persons will be performing services for the Xxxxxxxx Companies and other State Auto Companies affiliates as well. To the extent reasonably possible, the parties shall jointly utilize State Auto P&C’s employees in a cooperative manner and consistent with the business interests and needs of the State Auto CompaniesP&C and its affiliates. State Auto P&C shall direct its employees performing such services for each of the Managed Xxxxxxxx Companies to use their best efforts to promote the general interests and economic welfare of each of the Managed Xxxxxxxx Companies to the same extent as such employees provide to State Auto P&C. The term of State Auto P&C’s engagement under this Agreement shall begin on the date of this Agreement and shall end, unless sooner terminated in accordance with the provisions of Section 9 below, on the tenth anniversary of this Agreement. This Agreement shall be automatically renewed for successive ten-year periods upon the same terms and conditions contained in this Agreement, unless and until terminated as described in Section 9 below.

Appears in 1 contract

Samples: Management and Operations Agreement (State Auto Financial CORP)

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