PRINCIPLES OF OPERATORSHIP Sample Clauses

PRINCIPLES OF OPERATORSHIP. The operatorship of the Facilities shall be governed by the following fundamental principles (“Principles of Operatorship”): a. at all times during the term of this Agreement, Operator and Infineum shall enjoy all rights which allow independent and viable management and operation of their respective businesses; b. subject to the restrictions and limitations of this Agreement, the Charges other than the Risk Premium will be calculated on the basis of full recovery of Operator’s actual costs that are permitted to be charged in accordance with this Agreement, and Operator shall not charge costs which are not directly related to operation of the Facilities for Infineum or which are not Overheads or which are not permitted to be charged under this Agreement. In determining the Charges (other than the Risk Premium), the Parties shall take into consideration the Fixed Costs and the Variable Costs; c. whenever Infineum demonstrates that services, utilities, Materials and/or facilities or its equivalent is available from one or more Third Party suppliers on more competitive terms and conditions, Operator and Infineum shall discuss and agree upon measures to improve efficiency. Such discussions shall take place annually in connection with the finalization of the Annual Plan & Budget, unless the Parties agree otherwise; d. Operator shall use its reasonable efforts, and shall apply available cost reducing tools, to continuously reduce the costs it controls, recognizing there is an experience curve, such efforts to meet or exceed the cost reduction efforts Operator exercises with respect to its other operations. The Parties shall discuss and address appropriate cost reduction opportunities and actions upon the reasonable request of a Party, and at least annually, in connection with the finalization of the Annual Plan & Budget, unless the Parties agree otherwise; e. the terms and conditions of employment of Operator’s personnel and all aspects of their management shall be the prerogative of Operator.
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Related to PRINCIPLES OF OPERATORSHIP

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • TRANSFER OF OPERATIONS Purchaser shall be entitled to immediate possession of, and to exercise all rights arising under, the Assets from and after the time that the Restaurants open for business on the Closing Date, and operation of the Restaurants shall transfer at such time (the "Effective Time"). Except as expressly provided in this Agreement, all profits, losses, liabilities, claims, or injuries arising before the Effective Time shall be solely to the benefit or the risk of Seller. All such occurrences after the Effective Time shall be solely to the benefit or the risk of Purchaser. The risk of loss or damage by fire, storm, flood, theft, or other casualty or cause shall be in all respects upon Seller prior to the Effective Time and upon the Purchaser thereafter.

  • Continuity of Operations Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Statement of Operations Statement of Changes in Net Assets.

  • Change of Operations Uniforms To: Members of Local Union 295 Dear Brothers and Sisters: As you know, we have a tentative agreement for the UPS Cartage Services, Inc. Supplemental Agreement. Article 2 of the re-negoti- ated CSI Supplement outlines the National Master UPS Agreement (NMA) Articles that may be applied to your Addendum. You will note that several NMA articles are not applicable. These are sub- jects that are either addressed in the CSI Supplement or are not op- erationally applicable to CSI. Where there are two provisions covering the same subject, one in the Local Addendum and one in the National Master UPS Agree- ment, the following provisions of the National Master UPS Agree- ment shall apply:

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

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