Financial Decisions Sample Clauses
The Financial Decisions clause outlines the procedures and authority for making monetary choices within an agreement or organization. It typically specifies who has the power to approve expenditures, set budgets, or authorize financial commitments, and may detail thresholds for different levels of approval. This clause ensures that financial management is conducted in an orderly and accountable manner, reducing the risk of unauthorized spending and promoting fiscal responsibility.
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Financial Decisions. Decisions regarding the distribution of profits, allocation of losses, and the requirement for Additional Capital Contributions as well as all other financial matters will be decided by a unanimous vote of the Partners.
Financial Decisions. 10.1. Decisions regarding the distribution of profits, allocation of losses, and the requirement for Contributions as well as all other financial matters will be decided by a unanimous vote of the Partners.
10.2. Subject to any other provisions of this Agreement, the net profits and losses of the Partnership, for both accounting and tax purposes, will accrue to and be borne by the Partners in equal proportions, unless a Capital Contribution has been made which changed the Initial Capital Contribution proportions of the Partners in which case each Partner will share in the net profit and losses of the Partnership in proportion to the new Capital Contributions (the “Profit and Loss Distribution”).
Financial Decisions. All accounting and administrative matters will be handled by Integrity Wellness. Decisions regarding the distribution of profits, allocation of losses, and the requirement for Additional Capital Contributions as well as all other financial matters will be decided by a unanimous vote of the Partners.
Financial Decisions. In the event the State and/or County cuts the funding or does not fully fund the Instructional Aide positions in the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Program, as it presently does, all financial and appropriate conditions in this Master Agreement shall be subject to renegotiation between the parties. The Board will give the local affiliate President at least five (5) calendar days’ notice of the need to re-open specific provisions for negotiations.