Entrusted Operation Sample Clauses

Entrusted Operation. Party A agrees to irrevocably entrust the right of operation management of Party A and the responsibilities and authorities of Party A’s shareholders and the Executive Director to Party B in accordance with the terms and conditions of this Agreement. Party B agrees to exercise the aforesaid rights and responsibilities in accordance with the terms and conditions of this Agreement.All the shareholders of Party Aissued Power of Attorney (“Power of Attorney”)to Party Bby on the same dayas this Agreement. Except that this Agreement terminates, the aforesaid entrustment shall be irrevocable.
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Entrusted Operation. 1.1 Party A agrees to irrevocably entrust the right of operation management of Party A and the responsibilities and authorities of Party A’s shareholders and the executive director to Party B in accordance with the terms and conditions of this Agreement. Party B agrees to exercise the aforesaid rights and responsibilities in accordance with the terms and conditions of this Agreement. 1.2 The term of the entrusted operation is from the effective date of this Agreement to 31st December, 2009. 1.3 The purpose of the entrusted operation is: Party B shall be in charge of the normal business operations of Party A and perform the responsibilities and rights of Party A’s investor and the executive director, and Party A shall pay all of its profit (if any) to Party B. During the term of the entrusted operation, Party B, as the entrusted manager, shall provide full management to Party A’s operations. 1.4 The contents of the entrusted operation shall include but not be limited to the following: 1) Party B shall be in charge of all aspects of Party A’s operations; nominate and replace the members of Party A’s executive director, engage Party A’s management staff and decide their compensation. 2) Party B shall manage and control all the funds of Party A. The accounts of Party A shall be managed solely by Party B. The seals and signatures for such account shall be the seals and signatures of the personnel appointed and confirmed by Party B. All the cash of Party A shall be kept in this entrusted account shall be handled through this account, including but not limited to receipt of all Party A’s business income, current working capital, recovered account receivables, and the payment of all account payables and operation expenses, employee salaries and asset purchases, etc. 3) All the matters of Party A, including but not limited to internal financial management, day-to-day operation, external contact execution and performance, tax filing and payment, change of rights and personnel, shall be controlled and managed by Party B in all aspects. 4) Party B shall enjoy all the other responsibilities and rights enjoyed by Party A’s investor in accordance with the applicable law and the articles of association of Party A, including but not limited to the following: a. Deciding Party A’s operation principles and investment plan; b. Nominating the executive director or the supervisor; c. Discussing and approving the report of the executive director or the supervisor; d. Discussing ...
Sample 1See All (7)
Entrusted Operation. 1.1 Party A agrees to irrevocably entrust the right of operation management of Party A and the responsibilities and authorities of Party A's shareholders' meeting and the board of directors to Party B in accordance with the terms and conditions of this Agreement. Party B agrees to exercise the aforesaid rights and responsibilities in accordance with the terms and conditions of this Agreement. 1.2 The term of the entrusted operation is from the effective date of this Agreement to the earliest date of the following: 1) The termination date of Party A's business; or 2) The termination date of the entrusted operation as agreed upon by the parties under this Agreement; or 3) The date on which Party B possesses more than 51% of Party A's shares. 1.3 The purpose of the entrusted operation is: Before Party B possess the controlling stock (more than 51%) of Party A, Party B shall be in charge of the normal business operations of Party A and perform the responsibilities and rights of Party A's shareholders' meeting and the board of directors, and Party A shall pay its profit (if any) to Party B and Party B shall be responsible to Party A's loss (if any). During the term of the entrusted operation, Party B, as the entrusted manager, shall provide full management to Party A's operations. 1.4 The contents of the entrusted operation include but not limited to the following: 1) Party B shall be in charge of all aspects of Party A's operations; nominate and replace the members of Party A's board of directors, engage Party A's management staff and decide their compensation.
Sample 1

Related to Entrusted Operation

  • Limited Operation If any of the Connecting Transmission Owner’s Attachment Facilities or System Upgrade Facilities or System Deliverability Upgrades are not reasonably expected to be completed prior to the Commercial Operation Date of the Developer’s Large Generating Facility, NYISO shall, upon the request and at the expense of Developer, in conjunction with the Connecting Transmission Owner, perform operating studies on a timely basis to determine the extent to which the Developer’s Large Generating Facility and the Developer’s Attachment Facilities may operate prior to the completion of the Connecting Transmission Owner’s Attachment Facilities or System Upgrade Facilities or System Deliverability Upgrades consistent with Applicable Laws and Regulations, Applicable Reliability Standards, Good Utility Practice, and this Agreement. Connecting Transmission Owner and NYISO shall permit Developer to operate the Developer’s Large Generating Facility and the Developer’s Attachment Facilities in accordance with the results of such studies.

  • Co-operation Each Party acknowledges that this ESA must be approved by the Department and agree that they shall use Commercially Reasonable efforts to cooperate in seeking to secure such approval.

  • Management and Operation 6.01 Management of Partnership Affairs 16 6.02 Duties and Obligations of General Partner 17 6.03 Release and Indemnification 17 6.04 Power of Attorney 18

  • Designated Operating Representative The Parties may also designate operating representatives to conduct the communications which may be necessary or convenient for the administration of this Agreement. This person will also serve as the point of contact with respect to operations and maintenance of the Party’s facilities. Interconnection Customer’s Operating Representative: Hecate Energy Xxxxxx 1 LLC Attention: Xxxxxx Xxxxxx, VP Engineering and Development 000 Xxxx Xxxxxxxx Xxxxxx Chicago, IL 60661 Phone: 000-000-0000 Email: xxxxxxx@xxxxxxxxxxxx.xxx; cc: xxxxxxx@xxxxxxxxxxxx.xxx 32 SERVICE AGREEMENT NO. 2547 Connecting Transmission Owner’s Operating Representative: Connecting Transmission Owner: Central Xxxxxx Gas & Electric Corporation Attn: Manager, System Operations 000 Xxxxx Xxxxxx Xxxxxxxxxxxx, XX 00000 Phone: (000) 000-0000 Fax: (000) 000-0000 NYISO’s Operating Representative: New York Independent System Operator, Inc. Attention: Vice President, Operations Address: 00 Xxxx Xxxxxxxxx City: Rensselaer State: NY Zip: 12144 Phone: (000) 000-0000 E-mail: xxxxxxxxxxxxxxxxxxxxxx@xxxxx.xxx

  • Management and Operation of Business Section 7.1 Management 47 Section 7.2 Certificate of Limited Partnership 48 Section 7.3 Restrictions on Managing General Partner’s Authority 49 Section 7.4 Reimbursement of the Managing General Partner 49 Section 7.5 Outside Activities 50 Section 7.6 Loans from the Managing General Partner; Loans or Contributions from the Partnership; Contracts with Affiliates; Certain Restrictions on the Managing General Partner 51 Section 7.7 Indemnification 53 Section 7.8 Liability of Indemnitees 54 Section 7.9 Resolution of Conflicts of Interest 55 Section 7.10 Other Matters Concerning the Managing General Partner 57 Section 7.11 Purchase or Sale of Partnership Securities 57 Section 7.12 Registration Rights of the Managing General Partner and its Affiliates 57 Section 7.13 Reliance by Third Parties 59

  • Information Management Information and Records

  • Continued Operation In the event of a Breach or Default by either Interconnected Entity, and subject to termination of the Interconnection Service Agreement under Section 16 of this Appendix 2, the Interconnected Entities shall continue to operate and maintain, as applicable, such DC power systems, protection and Metering Equipment, telemetering equipment, SCADA equipment, transformers, Secondary Systems, communications equipment, building facilities, software, documentation, structural components, and other facilities and appurtenances that are reasonably necessary for Transmission Provider and the Interconnected Transmission Owner to operate and maintain the Transmission System and the Transmission Owner Interconnection Facilities and for Interconnection Customer to operate and maintain the Customer Facility and the Customer Interconnection Facilities, in a safe and reliable manner.

  • Management and Operations Promotes the learning and growth of all students and the success of all staff by ensuring a safe, efficient, and effective learning environment, using resources to implement appropriate curriculum, staffing, and scheduling

  • Products and Completed Operations Liability Employers Liability and Voluntary Compensation unless the HSP complies with the Section below entitled “Proof of WSIA Coverage”,

  • Contractual and Operational Compliance Audits (a) ICANN may from time to time (not to exceed twice per calendar year) conduct, or engage a third party to conduct, contractual compliance audits to assess compliance by Registry Operator with its representations and warranties contained in Article 1 of this Agreement and its covenants contained in Article 2 of this Agreement. Such audits shall be tailored to achieve the purpose of assessing compliance, and ICANN will (a) give reasonable advance notice of any such audit, which notice shall specify in reasonable detail the categories of documents, data and other information requested by ICANN, and (b) use commercially reasonable efforts to conduct such audit during regular business hours and in such a manner as to not unreasonably disrupt the operations of Registry Operator. As part of such audit and upon request by ICANN, Registry Operator shall timely provide all responsive documents, data and any other information reasonably necessary to demonstrate Registry Operator’s compliance with this Agreement. Upon no less than ten (10) calendar days notice (unless otherwise agreed to by Registry Operator), ICANN may, as part of any contractual compliance audit, conduct site visits during regular business hours to assess compliance by Registry Operator with its representations and warranties contained in Article 1 of this Agreement and its covenants contained in Article 2 of this Agreement. ICANN will treat any information obtained in connection with such audits that is appropriately marked as confidential (as required by Section 7.15) as Confidential Information of Registry Operator in accordance with Section 7.15.

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