MANAGEMENT COMPANY AND/OR EDUCATION SERVICE PROVIDER Sample Clauses

MANAGEMENT COMPANY AND/OR EDUCATION SERVICE PROVIDER. A. If a management company and/or Education Service Provider (collectively, the “ESP”) will be operating the School, the contract between the ESP and the governing body of the School shall be submitted to its Sponsor prior to the approval of this Contract.
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MANAGEMENT COMPANY AND/OR EDUCATION SERVICE PROVIDER. A. If a management company and/or ESP (collectively, the “ESP”) will be operating the School, the contract between the ESP and the governing body of the School shall be submitted to the Sponsor prior to the approval of the School's Contract. B. Terms of the ESP contract shall specifically require strict compliance with this Contract and amendments thereto, and with all applicable laws, ordinances, rules and regulations. The contract between the School and the ESP will allow the School the ability to terminate the contract with the ESP. If such termination occurs, all property that was purchased with public funds for the School will remain as property of the School. The ESP contract shall clearly state the fee and/or consideration to be paid to the ESP and how it is calculated. Employees of the ESP and family members of employees of management companies may not sit on the School’s governing board or serve as officers of the School. For the purposes of this section, “family members” shall be defined to include spouses, mothers, fathers, sisters, brothers, mothers-in-law, fathers-in-law, sisters-in-law, brothers-in-law, daughters, sons, daughters-in-law and sons-in-law. If the School desires to contract with an ESP subsequent to the execution of this Contract, the proposed contract between the ESP and the School shall be submitted to the Sponsor for review prior to its execution by the School. C. All amendments to the contract between the ESP and the governing body of the School shall be submitted to the Sponsor within five (5) days of execution. D. If the ESP contract is terminated, all property within the School purchased with public funds will remain as property of the School. E. No employee or staff member of the ESP shall become a member of the School’s governing board. F. The School leader will be hired by the School’s governing board and employed by the ESP. The School leader will be evaluated by the School’s governing board and by the ESP. G. The contract between the ESP and the governing body of the School shall ensure that an “arms-length,” performance-based relationship exists between the governing board and the ESP. H. The contract between the ESP and the School shall require the ESP to provide to the School, for the School’s timely submittal to the Sponsor, the monthly financial statements in form and content set forth in section V.E.
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