Other Related Party Transactions. In addition to the specific arrangements authorized by the terms of this Agreement, the Company may enter into other transactions with the Manager or an Affiliate thereof, or engage any such Person to render services to the Company, and to pay compensation, fees or other consideration in respect thereto, if the terms of such transaction has been disclosed to the Members and approved by a Majority Vote of the Members. If the Company should propose any such transaction, the Manager shall prepare and distribute to the Members a written statement describing the material terms and conditions of the proposed transaction at the time the Company solicits Member approval to authorize the proposed transaction.
Other Related Party Transactions. Based on the announcement made by the Parties on 11 May 2009, Aker makes the following undertaking with respect to other Related Party Transactions than the transactions encompassed by section 1.3:
Other Related Party Transactions. (a) Lease Contracts with RRC and Sublease Agreement with Subsidiaries The Parent Company and certain subsidiaries occupy several floors of RCBC Plaza as leaseholders of RRC [see Note 29.7(b)]. Rental expense incurred by the Group related to this lease arrangement is included as part of Occupancy and Equipment-related expenses account in the statements of profit or loss. The Parent Company’s lease contract with RRC is effective until December 31, 2020 after it was renewed in 2015 for another five years. The outstanding payable on the lease contract is presented as part of Accounts payable under Other Liabilities account in the 2017 and 2016 statements of financial position (see Note 22). The related outstanding payable is unsecured, noninterest-bearing and payable in cash on demand. The Parent Company entered into sublease agreements with certain subsidiaries which occupy several floors of RCBC Plaza. Rental income by Parent Company related to these sublease arrangements is included as part of Rentals under the Miscellaneous income account in the statements of profit or loss (see Notes 14.2). The outstanding receivable on the lease contracts is presented as part of Accounts receivable under Loans and Receivables account in the statements of financial position (see Note 11). The related outstanding receivable is unsecured, noninterest-bearing and payable in cash on demand. Management believes that the receivables on the sublease agreements are fully recoverable.
Other Related Party Transactions. (a) Prior to the Company Spin-Off and for so long as the Company is an Affiliate of Remainco, the written consent of the Investors (which shall not be unreasonably withheld or delayed) will be required with respect to any transaction (or series of related transactions) between Remainco, on the one hand, and the Company or any of its Subsidiaries, on the other hand, that is not contemplated by the other provisions of this Article II or by Article III hereof and that (i) is not undertaken on terms at least as favorable to the Company or its Subsidiaries as those generally obtainable in an arms-length transaction with a non-Affiliate or (ii) that involves in excess of $120,000 or that is otherwise material to the Company and its Subsidiaries taken as a whole. Such consent right shall not transfer with any sale or transfer of the Notes by an Investor to any other Person other than an Affiliate of such Investor or an investment fund or funds managed by an Affiliate of such Investor.
Other Related Party Transactions. Apart from the services described above, Franchise System Hotels and certain other Hyatt-Affiliated Hotels routinely engage in a number of transactions with other Hyatt-Affiliated Hotels. For example, an individual hotel may engage in transactions with other Hyatt-Affiliated Hotels whereby the hotel is billed by another Hyatt-Affiliated Hotel or, conversely, bills another Hyatt-Affiliated Hotel, for reasons such as staff utilization (e.g., during periods of high demand).
Other Related Party Transactions. On January 2, 2019, the Company entered into an agreement with XXX Consulting, which is owned by the chief operating officer, to perform administrative billing services for the Company relating to service agreements the Company has with medical offices. Pursuant to the agreement, XXX will provide billing services for the physician for all PC8B testing completed by the physician at a fee of $10 or $20 per test, depending on the test. XXX also provides the Company with office space in its offices in Denison, Texas for $500 per month. Chief Financial Officer Convertible Notes Payable – Related Party March 31,2019 December 31,2018 Convertible note payable (a) $ 102,500 $ 102,500 Convertible note payable (b) 98,400 98,400 Debt discount – unamortized balance (8,861 ) (12,129 ) Convertible note payable, net $ 192,039 $ 188,771
