SERVCO; STAFFING AND LABOR ISSUES Clause Samples

SERVCO; STAFFING AND LABOR ISSUES. (A) Organization. Pursuant to the terms of the Transition Services Agreement, the Service Provider shall form a subsidiary service company (“ServCo”) to provide substantially all of the Operations Services required under this Agreement. ServCo will be organized as a New York limited liability company and a wholly-owned subsidiary of the Service Provider. Without LIPA’s prior approval, ServCo may not engage in any other business or activity other than to provide Operations Services pursuant to this Agreement.