Ownership Structures Sample Clauses
The Ownership Structures clause defines how ownership interests in a business or asset are organized and allocated among parties. It typically outlines the types of ownership (such as shares, partnership interests, or membership units), the rights and responsibilities attached to each type, and the process for transferring or modifying these interests. For example, it may specify voting rights, profit distributions, or restrictions on selling ownership stakes. This clause is essential for establishing clear rules regarding control, profit sharing, and succession, thereby preventing disputes and ensuring all parties understand their stake in the entity.
Ownership Structures. Seller, owner and operator shall provide Company a certificate and/or description of their ownership structures which shall be attached hereto as Exhibit A-2 (Ownership Structures). In the event of a change in ownership or identity of Seller, owner or operator, such entity shall provide within thirty (30) Days thereof, a certified copy of a new certificate and a revised ownership structure. Equipment: The “Allowed Capacity” of this Agreement shall be the lower of (i) Contract Capacity or (ii) the net nameplate capacity (net for export) of the Facility installed by the Commercial Operations Date. Seller may propose revisions to this Section 8 (Equipment) of Attachment A (Description of Storage Facility) (“Section 8”) for Company’s approval prior to commencement of construction, provided, however, that (i) no such revision to this Section 8 shall change the type of Facility or equipment deployed at the Facility from a standalone battery energy storage system; (ii) Seller shall be in compliance with all other terms and conditions of this Agreement; and (iii) such revision(s) shall not change the characteristics of the Facility equipment or the specifications used in the IRS. Any revision to this Section 8 complying with items (i) through (iii) above shall be subject to Company’s prior approval, which approval shall not be unreasonably withheld. If Seller’s proposed revision(s) to this Section 8 otherwise satisfies items (i) and (ii) above but not item (iii) such that Company, in its reasonable discretion, determines that a re-study or revision to all or any part of the IRS is required to accommodate Seller’s proposed revision(s), Company may, in its sole and absolute discretion, conditionally approve such revision(s) subject to a satisfactory re-study or revision to the IRS and Seller’s payment and continued obligation to be liable and responsible for all costs and expenses of re-studying or revising such portions of the IRS and for modifying and paying for all costs and expenses of modification to the Facility, the Company-Owned Interconnection Facilities based on the results of the re-studies or revisions to the IRS. Any changes made to this Attachment A (Description of Storage Facility) or the Agreement as a result of this Section 8(b) of Attachment A (Description of Storage Facility) shall be reflected in a written amendment to the Agreement. Seller understands and acknowledges that Company’s review and approval of Seller’s proposed revisions to this Sect...
Ownership Structures. There is a wide choice of arrangements between landowners and the companies that operate the homes. Sometimes the operator owns the freeholds of its homes, but usually the operator will run its business from a mixture of freehold and leasehold properties. Where the operator does not own the freehold, a contract will be put in place to deal with the terms under which the over the running of the home if the operator experiences financial difficulties. However, care must be taken with this mechanism that the landlord only takes the rights that it actually needs and that the terms of the debenture do not restrict the operator’s ability to run its business effectively. ▇▇▇ features Where the operator does not own the freehold, this is sometimes because the group has chosen an “opco/propco” structure where the operating company pays rent to a sister company in which the properties have been vested. Alternatively, the operating company may have been through a sale and leaseback process to raise funding for expansion, where the operator has sold the freehold interests to a third party that becomes its landlord. The way this structure was implemented during the expansion of Southern Cross is thought to have been one of the factors leading to its decline.
Ownership Structures. The true and correct ownership structure of each Seller and Owner is shown on Exhibit M hereto.