Establishment of the Joint Venture Business Sample Clauses

Establishment of the Joint Venture Business. 1.1 The Companies agree to form a joint venture business relationship between New Colombia Resources, Inc. and MSG Mining Corp. NCR will pay MSG US$ 50,000 in 3 installments within the next 30 days for entering into this agreement. 1.2 The Companies will constitute an SAS corporation (“Venture Company”) in Colombia that will be 51% owned by New Colombia Resources, Inc. and 49% owned by MSG Mining Corp. 1.3 The Companies shall maintain their original organization form in conjunction with this JV. All profits, risks and losses of the joint venture will be shared by the Companies, on the following basis: i. New Colombia Resources, Inc. will share fifty (51) percent of all net operating profits or losses of the JV; and ii. MSG Mining Corp. will share (49) percent of all net operating profits or losses of the JV.
Sample 1
AutoNDA by SimpleDocs
Establishment of the Joint Venture Business. 1.1 The Parties agree to establish an joint venture business relationship between Cannabis Science Inc. and Dupetit Natural Products GmbH. 1.2 The Companies shall maintain their original organization form in conjunction with this JV. All profits, risks and losses of the joint venture will be shared by the Parties with respect to products jointly developed under this JV, on the following basis: (i) Cannabis Science, Inc. shall receive ninety (90) percent of all net operating profits of the JV; and (ii) Dupetit Natural Products GmbH shall receive ten (10) percent of all net operating profits of the JV. 1.3 Dupetit Natural Products GmbH shall enter into this joint venture business relationship on an exclusive basis for world wide sales and distribution of products produced under or supplied to the JV by Dupetit under this Agreement. 1.5 Cannabis Science Inc. shall enter into this joint venture business on a non-exclusive basis and shall be permitted to form other such relationships or business ventures world wide. 1.6 The JV shall compensate Dupetit (individual) € 5.000. per month for acting as the head of operations for the JV to manage all day to day activites, research and development, production, and the marketing and sale of products under the JV. 1.7 Cannabis Science Inc. shall issue five million (5,000,000) Rule 144 restricted common shares to dupetit Natural Products GmbH, or its assigns, as consideration for providing products under Appendix “A” to the JV.
Sample 1
Establishment of the Joint Venture Business. 1.1 The Parties agree to establish an joint venture business relationship between CBIS and WNGM and KATT for the purpose of building Cannabis growing operations, a clinical laboratory with an integrated database system, a medicine production facility, and treatment center. 1.2 The Parties shall maintain their original organization form in conjunction with this JV. All profits, risks and losses of the joint venture will be shared by the Parties with respect to products jointly developed under this JV, on the following basis: (i) WNGM shall receive 50% percent of all net operating profits; (ii) KATT shall receive 25% of all net operating profits; and (iii) CBIS shall receive 25% percent of all net operating profits. Net operating profits is defined as net income after taxes, including all government assessments and fees, excluding extraordinary charges. 1.3 WNGM shall enter into this joint venture business relationship on an exclusive basis for the distribution of products produced under or supplied to the JV by the Parties under this Agreement. 1.4 KATT shall enter into this joint venture business relationship on an exclusive basis for the distribution of products produced under or supplied to the JV by the Parties under this Agreement. 1.5 CBIS shall enter into this joint venture business on a non-exclusive basis and shall be permitted to form other such relationships or business ventures world wide. 1.6 Cannabis Science Inc. shall issue one million shares of Rule 144 restricted common shares to WNGM or its assigns, as consideration for providing services under Appendix “A” to the JV. 1.7 Cannabis Science Inc. shall issue one million shares of Rule 144 restricted common shares to KATT or his assigns, as consideration for providing services under Appendix “B” to the JV.
Sample 1
Establishment of the Joint Venture Business. 1.1 The Parties agree to establish an joint venture business relationship between Cannabis Science Inc. and Colombia Corp.. 1.2 The Companies shall maintain their original organization form in conjunction with this JV. All profits, risks and losses of the joint venture will be shared by the Parties with respect to products jointly developed under this JV, on the following basis: (i) Cannabis Science, Inc. shall receive ninety (90) percent of all net operating profits of the JV; and (ii) Colombia Corp. shall receive ten (10) percent of all net operating profits of the JV.
Sample 1

Related to Establishment of the Joint Venture Business

  • Subsidiaries and Joint Ventures Create, acquire or otherwise suffer to exist, or permit any Subsidiary of such Borrower to create, acquire or otherwise suffer to exist, any Subsidiary or joint venture arrangement not in existence as of the date hereof, except in connection with a Permitted Acquisition.

  • Partnerships and Joint Ventures No Loan Party shall become a general partner in any general or limited partnership or a joint venturer in any joint venture.

  • Services to Other Clients; Certain Affiliated Activities (a) The relationship between the Asset Manager and the Series is as described in this Agreement and nothing in this Agreement, none of the services to be provided pursuant to this Agreement, nor any other matter, shall oblige the Asset Manager to accept responsibilities that are more extensive than those set forth in this Agreement. (b) The Asset Manager’s services to the Series are not exclusive. The Asset Manager may engage in other activities on behalf of itself, any other Managing Party and other clients (which, for the avoidance of doubt, may include other series of the Company). The Series acknowledges and agrees that the Asset Manager may, without prior notice to the Series, give advice to such other clients. The Asset Manager shall not be liable to account to the Series for any profits, commission or remuneration made or received in respect of transactions effected pursuant to the Asset Manager’s advice to another client and nor will the Asset Manager’s fees be abated as a result.

  • Other Business Activities of the Holders Each Holder acknowledges that the other Holders may make loans or otherwise extend credit to, and generally engage in any kind of business with, any Borrower Party Affiliate, and receive payments on such other loans or extensions of credit to any Borrower Party Affiliate and otherwise act with respect thereto freely and without accountability, but only if none of the foregoing violate the Mortgage Loan Documents, in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

  • Investments; Joint Ventures Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, make or own any Investment in any Person, including any Joint Venture, except: (i) Borrower and its Subsidiaries may make and own Investments in Cash and Cash Equivalents; (ii) Borrower and its Subsidiaries may (a) make and own Investments in any Loan Party, and (b) make and own Investments in any Subsidiaries of Borrower that are not Loan Parties in aggregate amount not to exceed $750,000; (iii) Borrower and its Subsidiaries may make intercompany loans to the extent permitted under subsection 7.1(iv); (iv) Borrower and its Subsidiaries may make Consolidated Capital Expenditures permitted by subsection 7.8; (v) Borrower and its Subsidiaries may continue to own the Investments owned by them as of the Closing Date and described in Schedule 7.3 annexed hereto; (vi) Borrower and its Subsidiaries may make and own Investments in shares of capital stock, evidence of Indebtedness or other security acquired in consideration for or as evidence of past-due or restructured Accounts in an aggregate face amount of such Accounts at any time not to exceed $500,000; (vii) Borrower and its Subsidiaries may make and own Investments in non-cash consideration received in connection with any Asset Sale otherwise permitted hereby; (viii) Borrower and its Subsidiaries may make and own Investments with respect to any obligation to indemnify their respective officers and directors to the fullest extent permitted by the corporation or limited liability company law of the jurisdiction of such Person's organization; (ix) Borrower and its Subsidiaries may make and own Investments in loans and advances (a) to their respective employees for moving, entertainment, travel and other similar expenses in the ordinary course of business not to exceed $250,000 in the aggregate at any time outstanding, or (b) to their respective employees and to their respective independent sales representatives secured by the pledge of shares of Borrower Common Stock made to finance the purchase by such employees (or representatives) of such stock, not to exceed $1,000,000 in the aggregate at any time outstanding; (x) Borrower and its Subsidiaries may make acquisitions permitted pursuant to subsection 7.7; and (xi) Borrower and its Subsidiaries may sell inventory on credit in the ordinary course of business.

  • 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.

  • MANAGEMENT OF THE BUSINESS Pursuant to Section 00-00-000 of the Act, and as stated in its Articles, the Company’s day to day affairs are managed by the Member. The Member is responsible for the daily operations of the business.

  • Other Business Activities During the Term, Employee will not, without the prior written consent of the Company, directly or indirectly engage in any other business activities or pursuits whatsoever, except activities in connection with any charitable or civic activities, personal investments and serving as an executor, trustee or in other similar fiduciary capacity; provided, however, that such activities do not interfere with his performance of his responsibilities and obligations pursuant to this Agreement.

  • Association Business Duly authorized representatives of the Association shall be permitted to transact official Association business on school property at all reasonable times provided that such activities shall not interfere with normal school operations.

  • Other Business Activities of the Noteholders Each Noteholder acknowledges that each other Noteholder or its Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Mortgage Loan Borrower or (b) any direct or indirect parent of the Mortgage Loan Borrower or (c) any Affiliate of the Mortgage Loan Borrower or (d) any Affiliate of any direct or indirect parent of the Mortgage Loan Borrower, (ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate of the holder of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower or any Affiliate of a holder of such preferred equity (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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!