Ostensible Authority Clause Samples
The Ostensible Authority clause defines the circumstances under which a party is considered to have the authority to act on behalf of another, even if such authority was not formally granted. In practice, this clause applies when a third party reasonably believes, based on the conduct or representations of the principal, that an agent has the power to enter into agreements or make decisions for the principal. This provision is crucial for protecting third parties who rely in good faith on apparent authority, and it helps prevent principals from denying responsibility for the actions of their agents when their own behavior has led others to believe such authority existed.
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Ostensible Authority. 30 - iii - MT DOCS 14908732v9
Ostensible Authority. No person dealing with the Partnership will be required to inquire into the authority of the General Partner to do any act, take any proceeding, make any decision or execute and deliver any instrument, deed, agreement or document for and on behalf of or in the name of the Partnership.
Ostensible Authority. Each of the Managing GP and the Liquidation GP will, where it deems necessary and practicable, insert, and cause agents of the Partnership to insert, the following clause in any contracts or agreements to which the Partnership is a party or by which it is bound: MT DOCS 14908732v9 “HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership is a limited partnership formed under the Limited Partnerships Act (Ontario), a limited partner of which is, except as expressly required by law, only liable for any of its liabilities or any of its losses to the extent of the amount that the limited partner has contributed or agreed to contribute to its capital.”
Ostensible Authority. Each of the Managing GP and the Liquidation GP will, where it deems necessary and practicable, insert, and cause agents of the Partnership to insert, the following clause in any contracts or agreements to which the Partnership is a party or by which it is bound: “RBC Covered Bond Guarantor Limited Partnership is a limited partnership formed under the Limited Partnerships Act (Ontario), a limited partner of which is, except as expressly required by law, only liable for any of its liabilities or any of its losses to the extent of the amount that the limited partner has contributed or agreed to contribute to its capital.”
Ostensible Authority. The Managing GP will, where it deems necessary and practicable, insert, and cause agents of the Partnership to insert, the following clause in any contracts or agreements to which the Partnership is a party or by which it is bound: “Golden Credit Card Limited Partnership is a limited partnership formed under the Limited Partnerships Act (Ontario), a limited partner of which is, except as expressly required by law, only liable for any of its liabilities or any of its losses to the extent of the amount that the limited partner has contributed or agreed to contribute to its capital.”
Ostensible Authority. No officer or Director of the Corporation may enter into any contract for or on behalf of the Corporation which involves the payment or obligation by the Corporation of an aggregate amount in excess of $10,000, or has an aggregate term (including any renewal term or extended term) of more than 12 months, without the prior approval of the Board, evidenced by resolution of the said Board. The Shareholders shall take the appropriate measures to ensure that the officers and the Directors of the Corporation comply with this provision.