Management and Operations of the Company. 8.1. The Board shall have responsibility for the supervision and management of the Company and the Business in accordance with this Agreement and/or as required under any applicable law or under the terms of this Agreement.
8.2. The Board shall be responsible for setting the corporate governance of the Company, including its management and reporting structure in accordance with the Articles of Association and this Agreement and shall be responsible for ensuring compliance with such rules.
8.3. The Board shall be responsible for ensuring that the Company is in compliance with all the statutory reporting requirements under all applicable laws including Indian GAAP. In addition, the Company shall prepare a reconciliation of profits determined under Indian GAAP to net income.
8.4. Where the Company enters into any agreement with a related party, such agreement shall be on an arm’s length basis which shall be approved by the Board.
Management and Operations of the Company. Management of the Company’s Affairs 3 Section 2.2 Corporate Services 3 Section 2.3 Officers 3 Section 2.4 Credit Facility 4 Section 2.5 Approval Rights of Members 4 Section 2.6 Member Loans 6 Section 3.1 Capital Requirements; Capital Contributions 7
Management and Operations of the Company. 1Management Generally.
Management and Operations of the Company. During the Employment Period, but only until October 23, 2001, the Executive, together with the other members of the Company Compensation Committee, will be responsible for establishing the aggregate and individual compensation levels for certain employees of the Company, in accordance with the compensation policies and practices established by the Company Compensation Committee, which shall be consistent with the historical compensation practices and policies of the Company and KeyCorp and in conformity with industry practice. The Executive acknowledges and agrees that the Company Compensation Committee shall terminate on October 23, 2001 and thereafter shall no longer continue as a committee of the Board of Directors of the Company or otherwise.
Management and Operations of the Company. Section 3.01. The Company shall carry on its operations and conduct its affairs in accordance with sound administrative, financial, economic and public utility practices under the super- vision of qualified and experienced management assisted by competent staff in adequate numbers.
Section 3.02. The Company shall at all times operate and maintain its plant, machinery, equipment and other property, and from time to time, promptly as needed, make all necessary repairs and renewals thereof, all in accordance with sound engineering and financial, economic and public utility practices.
(a) The Company shall take out and maintain with responsible insurers, or make other provision satisfactory to the Association for, insurance against such risks and in such amounts as shall be consistent with appropriate practice.
(b) Upon the completion of the revaluation of the fixed assets of the Company, the Company shall promptly revise its insurance coverages to take into account such revaluations.
Section 3.04. The Company shall continue to adhere to an efficient and effective system of accounting based on the recommen- dations resulting from its 1989 annual audit.
Section 3.05. The Company shall execute the Contrat-Programme referred to in Section 3.04 of the Development Credit Agreement and shall not concur to any amendment, modification or derogation to any of the terms and conditions of said Contrat-Programme without prior consultation with the Association.
Management and Operations of the Company. The Executive acknowledges and agrees that the Compensation Committee of the Board of Directors of the Company shall terminate on October 23, 2001 and thereafter shall no longer continue as a committee of the Board of Directors of the Company or otherwise. The Executive shall not serve on such Compensation Committee after the Commencement Date.
Management and Operations of the Company
