Purposes and Business. The purpose and nature of the business to be conducted by the Company shall be to (a) serve as a member or stockholder, as the case may be, of the Operating Companies and, in connection therewith, to exercise all the rights and powers conferred upon the Company as a member or stockholder, as the case may be, of such entities, (b) engage directly in, or enter into or form any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that the Operating Companies are permitted to engage in or that their subsidiaries are permitted to engage in by their organizational documents or agreements and, in connection therewith, to exercise all of the rights and powers conferred upon the Company pursuant to the agreements relating to such business activity, (c) engage directly in, or enter into or form any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that is approved by the Board of Directors and that lawfully may be conducted by a limited liability company organized pursuant to the Delaware Act and, in connection therewith, to exercise all of the rights and powers conferred upon the Company pursuant to the agreements relating to such business activity; and (d) do anything necessary or appropriate to the foregoing, including the making of capital contributions or loans to a Group Member; provided, however, that the Company shall not engage, directly or indirectly, in any business activity that the Board of Directors determines would cause the Company to be treated as an association taxable as a corporation or otherwise taxable as an entity for federal income tax purposes. The Board of Directors has no obligation or duty to the Company or the Members to propose or approve, and may decline to propose or approve, the conduct by the Company of any business.
Purposes and Business. The purpose and nature of the business to be conducted by the Company shall be to (a) serve as a member, partner or stockholder, as the case may be, of, and hold limited liability company interests, partnership (whether general or limited) interests or stock, as the case may be, in the Operating Companies and, in connection therewith, to exercise all the rights and powers conferred upon the Company as a member or stockholder, as the case may be, of such entities, (b) engage directly in, or enter into or form any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that the Operating Companies are permitted to engage in or that their Subsidiaries are permitted to engage in by their organizational documents or agreements, as amended or restated from time to time, and, in connection therewith, to exercise all of the rights and powers conferred upon the Company pursuant to the agreements relating to such business activity, (c) engage directly in, or enter into or form any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that is approved by the Board of Managers and that lawfully may be conducted by a limited liability company organized pursuant to the Delaware Act and, in connection therewith, to exercise all of the rights and powers conferred upon the Company pursuant to the agreements relating to such business activity; and (d) do anything necessary or appropriate to the foregoing, including the making of capital contributions or loans to a Group Member; provided, however, that the Company shall not engage, directly or indirectly, in any business activity that the Board of Managers determines would cause the Company to be treated as an association taxable as a corporation or otherwise taxable as an entity for federal income tax purposes. The Board of Managers has no obligation or duty to the Company or the Members to propose or approve, and may decline to propose or approve, the conduct by the Company of any business.
Purposes and Business. 2.4.1 The purpose and nature of the business of the Company shall be:
(i) to directly or indirectly own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Contracts) the Existing Contracts;
(ii) to own and hold ownership interests in the Existing Subsidiaries of the Company for the purpose of causing said subsidiaries to own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Subsidiary Contracts) the Existing Subsidiary Contracts to which they are a party;
(iii) to exercise the rights and perform the obligations of the Company and to cause the Existing Subsidiaries to exercise their respective rights and perform their respective obligations under and pursuant to the Existing Contracts, including to act as managers and franchisees under such Existing Contracts or any renewals or replacements thereof with respect to the hotels referenced in such Existing Contracts; and
(iv) to conduct all activities necessary or desirable to accomplish the foregoing purposes, including, without limitation, retaining such employees as the Managing Member deems reasonably necessary.
2.4.2 The Company shall not:
(i) enter into or permit any Existing Subsidiary to enter into any contract or agreement other than as permitted under subsection 2.4.1;
(ii) enter into or permit any Existing Subsidiary to enter into or conduct any business, other than as set forth subsection 2.4.1;
(iii) create, acquire or retain any equity interest in any legal entity, other than the Existing Subsidiaries; or
(iv) permit any Person other than the Company to have any ownership interest in any Existing Subsidiary.
Purposes and Business. Except as may otherwise be approved by the Members, the purpose of the Company shall be to own and operate the St. Louis Post-Dispatch and other businesses directly or indirectly related thereto, including certain businesses contributed to the Company pursuant to the Joint Venture Agreement, as determined by the Managing Member. The Company shall have all powers necessary or desirable to accomplish the aforesaid purposes. In connection therewith, the Company may engage in and enter into any and all activities, contracts and agreements related or incident to the above-stated purposes as the Managing Member may determine to be appropriate from time to time. The Company shall have the power to do all things necessary, appropriate, advisable, convenient, or incidental in connection with the fulfillment of its business purposes.
Purposes and Business. The business of the Partnership is to, directly or indirectly, acquire, finance, refinance, hold for investment, preserve, manage, operate, improve, lease, sell, exchange, transfer and otherwise use or dispose of the Qualified Assets as may be, directly or indirectly, acquired by the Partnership from time to time pursuant to the terms hereof, which Qualified Assets may be located anywhere in the United States. In connection therewith and without limiting the foregoing, the Partnership shall have the power to dispose of the Qualified Assets in accordance with the terms of this Agreement and to engage in any and all activities related or incidental thereto, all for the benefit of the Partners.
Purposes and Business. Except as otherwise approved pursuant to SECTION 3.6(i)(c), the sole and exclusive purpose of Newco and its Subsidiaries shall be to engage in the business of producing and selling containerboard and corrugated packaging products (other than folding carton, molded fiber and honeycomb paperboard-type products), including without limitation, the Containerboard Business (the "BUSINESS SCOPE"). Newco shall not and shall not permit any of its Subsidiaries to (and PCA shall not cause or, to the extent reasonably within PCA's control, permit Newco or any of its Subsidiaries to) engage in any other activity or business except to the extent approved by the Board in accordance with the terms and conditions hereof.
Purposes and Business. 14 Section 2.5 Term..........................................................14 Section 2.6
Purposes and Business. The purposes of the business to be conducted by the Partnership shall be (a) to serve as a partner of the Operating Partnership and, in connection therewith, to exercise all rights and powers conferred upon the Partnership as a partner of the Operating Partnership pursuant to the OLP Partnership Agreement or otherwise and (b) to engage, directly or indirectly, in any other business or activity that is approved by the General Partner which lawfully may be conducted by a limited partnership organized pursuant to the Delaware Act. The General Partner has no obligation or duty to the Partnership or the Record Holders to propose or approve, and in its discretion may decline to propose or approve, the conduct by the Partnership of any business.
Purposes and Business. Except as may otherwise be approved by the Board (which approval must include the affirmative vote or consent of the WISCO Manager), the purpose of the Company and the Company Group shall be to engage in any lawful business in any way related to the business of producing, licensing for production and selling commercial tissue products and related products for the "away from home" market, on a worldwide basis. The Company shall have all powers necessary or desirable to accomplish the aforesaid purposes. In connection therewith, the Company may engage in and enter into any and all activities, contracts and agreements related or incident to the above-stated purposes as the Board may determine to be appropriate from time to time. The Company shall have the power to do all things necessary, appropriate, advisable, convenient, or incidental in connection with the fulfillment of its business purposes. The Company shall not, and shall not permit any of its Subsidiaries to, engage in any other activity or business except to the extent approved by the Board (which approval must include the affirmative vote or consent of the WISCO Manager).
Purposes and Business. Subject to any limitations contained herein, the purpose of the Partnership is to acquire, improve, develop, lease, maintain, own, operate, manage, mortgage, hold, sell, exchange and otherwise deal in and with Strategic Investments, to acquire, hold and dispose of Interim Investments, and to engage in any other activities necessary or related or incidental thereto; provided, however, that such business shall be conducted in such a manner as the General Partner reasonably believes will permit the Company to be classified as a REIT beginning with its taxable year ending December 31, 2005, unless the Board of Directors and the Stockholders determine pursuant to the Charter that it is no longer in the best interests of the Company to continue to qualify as a REIT. In connection with the foregoing, and without limiting the Company’s right, in its sole discretion, to cease to qualify as a REIT, the Partners acknowledge that the Company’s status as a REIT inures to the benefit of all of the Partners and not solely the Company.
