Retained Authorities Sample Clauses

The "Retained Authorities" clause defines specific powers or decision-making rights that a party, often a parent company or higher authority, reserves for itself rather than delegating to subsidiaries or other entities. In practice, this clause lists particular actions—such as approving budgets, major contracts, or strategic changes—that cannot be undertaken without the express consent of the retaining party. By clearly delineating which authorities are retained, the clause ensures centralized control over critical decisions and prevents unauthorized actions, thereby managing risk and maintaining oversight.