JCC Holding; JCC Development Sample Clauses

JCC Holding; JCC Development. Except as otherwise provided in Section 6.2(a) of the Plan, (a) JCC Holding's only assets shall be and shall continue to be its membership interests in Tenant and JCC Development, and JCC Holding shall be the sole legal and beneficial owner of Tenant and JCC Development; provided, however, HET may elect to form JCC Intermediary pursuant to Section 12.12 of the Plan, in which case JCC Holding's only assets shall be and shall continue to be, unless and until JCC Intermediary is liquidated, its membership interests in JCC Intermediary and JCC Development, and (b) JCC Holding shall function as a holding company with no business operations other than the ownership of its membership interests in Tenant (or JCC Intermediary, unless and until JCC Intermediary is liquidated, if HET elects to form JCC Intermediary) and JCC Development. If HET elects to form JCC Intermediary in accordance with this Section 5.6, the sole asset of JCC Intermediary shall be its membership interest in Tenant and JCC Intermediary shall function as a holding company with no business operations other than the ownership of its membership interest in Tenant. As set forth in that certain letter agreement dated as of the Execution Date, a copy of which is attached as Exhibit "P" to this Lease and made a part hereof, JCC Holding agrees that it will comply, and will cause JCC Intermediary, if formed in accordance with this Section 5.6, to comply, with the foregoing provisions of this Section 5.6. JCC Holding shall remain the sole member of JCC Development; it being understood that the purpose of this covenant is to protect Landlord from transfers of funds to JCC Development or to any of these entities that will or may have an adverse affect on Landlord's rights to the Contingent Payments.
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Related to JCC Holding; JCC Development

  • Joint Development If joint development is involved, the Recipient agrees to follow the latest edition of FTA Circular 7050.1, “Federal Transit Administration Guidance on Joint Development.”

  • Staff Development ‌ The County and the Association agree that the County retains full authority to determine training needs, resources that can be made available, and the method of payment for training authorized by the County. Nothing in this subsection shall preclude the right of an employee to request specific training.

  • Independent Development Receiving Party may currently or in the future be developing information internally, or receiving information internally, or receiving information from other parties that may be similar to the Disclosing Party's Confidential Information. Accordingly, nothing in this Agreement will be construed as a representation or inference that Receiving Party will not develop or have developed products or services, that, without violation of this Agreement, might compete with the products or systems contemplated by the Disclosing Party's Confidential Information.

  • Career Development The City and the Union agree that employee career growth can be beneficial to both the City and the affected employee. As such, consistent with training needs identified by the City and the financial resources appropriated therefore by the City, the City shall provide educational and training opportunities for employee career growth. Each employee shall be responsible for utilizing those training and educational opportunities made available by the City or other institutions for the self- development effort needed to achieve personal career goals.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Skills Development The Company acknowledges the changing pace of technology in the electrical contracting industry and the need for employees to understand those changes and have the necessary skill requirements to keep the Company at the forefront of the industry. The Parties to this Agreement recognise that in order to increase the efficiency, productivity and competitiveness of the Company, a commitment to training and skill development is required. Accordingly, the parties commit themselves to: i) Developing a more highly skilled and flexible workforce. ii) Providing employees with career opportunities through appropriate training to acquire the additional skills as required by the Company. Taking into account; The current and future skill needs of the Company. The size, structure and nature of the Company. The need to develop vocational skills relevant to the Company and the Electrical Contracting Industry. Where, by agreement between the employee and employer, an employee undertakes training providing skills, which are not a company specific requirement, any time spent in the completion of this training shall be unpaid.

  • Program Development NWESD agrees that priority in the development of new applications services by XXXXX shall be in accordance with the expressed direction of the XXXXX Board of Directors operating under their bylaws.

  • Employee Development The Employer may provide employees the opportunity to participate in appropriate seminars, workshops or short courses. When possible and appropriate the Employer will provide to all staff information on seminars, workshops or short courses by posting a notice on the Employer’s internal web site.

  • Business Development Company Buyer is a business development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940.

  • Research and Development (i) Advice and assistance in relation to research and development of Party B; (ii) Advice and assistance in strategic planning; and

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