Specific Retained Authorities Sample Clauses

The 'Specific Retained Authorities' clause defines particular rights or powers that a party, often a parent company or governing body, explicitly reserves for itself rather than delegating to another party or subsidiary. This clause typically lists decisions or actions—such as approving budgets, major contracts, or strategic changes—that require the direct approval of the retaining party. By clearly delineating which authorities are retained, the clause ensures that critical control remains with the designated party, thereby preventing unauthorized or unilateral decisions and maintaining oversight over key aspects of the agreement or organization.