Review of Operating Agreement Sample Clauses

Review of Operating Agreement. A. The committee will review this operating agreement once every two years prior to the end of the academic year.
Sample 1Sample 2
AutoNDA by SimpleDocs
Review of Operating Agreement. The Parties shall together review the extent to which their activities which are governed by this Agreement are being carried out in accordance with its terms. The first such review shall take place 18 months after the date of this Agreement and thereafter reviews shall take place annually or at such other intervals as the Parties may agree.
Sample 1Sample 2
Review of Operating Agreement. A. The College Council will review this operating agreement once every two years prior to the end of the academic year B. Process for Proposed Changes: Proposed changes to the operating agreement shall be made evident by the use of track changes in the document. Proposed changes to the operating agreement will be submitted to constituency group leadership to determine necessity of full constituency review and approval. If a full review is not deemed necessary, the College Council will adopt changes. If a full review is deemed necessary by any of the constituency groups’ leadership, then the proposed changes will be sent to the constituencies for the approval process. The currently approved operating agreement will be in effect until proposed changes have been approved by all constituencies. (Approval dates to the revisions by constituent groups will be noted in a footnote. If revisions are the result of constituency leadership review rather than full constituency approval, review dates will be noted in the footnote.)
Sample 1

Related to Review of Operating Agreement

  • Statement of Operations Statement of Changes in Net Assets.

  • 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

  • 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.

  • 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.

  • Date of Operation 3.1 This Agreement remains in force until 2/7/2027. The agreement will continue to apply beyond its expiration date until it is replaced in accordance with the FW Act.

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • 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.

  • List of Operator’s Subprocessors [Box 26] [Box 27] [Box 28] [Box 29]

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!