CRC Board definition

CRC Board means the Board of Directors of CRC.

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CRC Board means the Board of Directors of CRC. "CRR" has the meaning set forth in the preamble to this Agreement. "CRR Holdings LLC Agreement" means the Limited Liabili- ty Company Agreement of CRR Holdings LLC, dated May 21, 1997, as amended from time to time. "CRR Industries" means CRR Industries, Inc., a Pennsylvania corporation and a wholly owned Subsidiary of CRR. "CRR Parent" has the meaning set forth in the preamble to this Agreement. "CRR Shares" means the shares of Common Stock and Se- ▇▇▇▇ A ESOP Convertible Junior Preferred Stock of CRR. "CRR Stay Bonus Program" means either the Conrail Inc. Stay Bonus Program, Classes 8 And Below, or the Conrail Inc. Stay Bonus Program Classes 9-11, both to be entered into pursuant to Attachment A to the Third Amendment. "CSX" has the meaning set forth in the preamble to this Agreement. "CSX Co-Chairman" has the meaning ascribed thereto in Section 4.2. "CSX Directors" has the meaning ascribed thereto in Section 4.2. "CSXT" has the meaning set forth in the preamble to this Agreement. "CSXT Equipment" means the Equipment subject to the CSXT Equipment Agreement. "CSXT Equipment Agreement" means the agreement to be entered into between NYC and CSXT in a form to be agreed by CSX and NSC, to provide CSXT with the right to use, operate and main- tain certain of the Equipment which NYC has the right to use and operate pursuant to the NYC Equipment Agreement. "CSXT/NSR Haulage Agreements" means the agreements pursuant to which CSXT and/or NSR will provide haulage services for the other, in substantially the form attached hereto as Exhibit D; each CSXT/NSR Haulage Agreement shall be in respect of a Route identified on Item 2 of Schedule 4 and shall incorporate the terms set forth therein. "CSXT Operating Agreement" means the agreement to be entered into between CSXT and NYC, substantially in the form at- tached hereto as Exhibit A-1, to provide for the use, operation and maintenance by CSXT of certain of the NYC Allocated Assets after the Closing Date. "Damages" means all assessments, losses, damages, li- abilities, costs and expenses, including without limitation in- terest, penalties and attorneys' and consultants' fees. "Distribution" means any dividend or other distribution with respect to any shares of capital stock or similar equity interests. "Employee Related Liabilities" means Liabilities to be designated as NYC Allocated Liabilities, PRR Allocated Liabilities or Corporate Level Liabilities pursuant to Article VI. "Enviro...

Examples of CRC Board in a sentence

• Unless otherwise authorized by the CRC Board, the General Manager shall prepare and submit to the CRC Board proposals (including the Program Maintenance plan submitted pursuant to Section 5(b)) for the performance of such Routine Maintenance and Program Maintenance as is reasonably necessary to keep and maintain the Shared Assets substantially in their condition as of the date of this Agreement.

• If the CRC Board fails either to approve or disapprove by majority vote any such proposal within 45 days after it was submitted to the CRC Board, the disagreement over the propriety or need for any of the Routine Maintenance or Program Maintenance included in such proposal may be submitted by either Operator for resolution by binding arbitration pursuant to Section 13.

• CRC shall be responsible for safely and efficiently operating, controlling and managing the use of the Shared Assets, impartially as between CSXT and NSR in accordance with directives and policies of the CRC Board, and with responsible business practices which are consistent with those used by CSXT and NSR in the operation of their businesses, and are designed to achieve the lowest cost of the safe and efficient operation, use and maintenance of the Shared Assets.

• Each such project shall be reviewed by the CRC Board, which may approve or disapprove by majority vote, or fail to approve, such projects.

• Either Operator, CRC or the General Manager may propose to the CRC Board from time to time capital improvement projects.

• In furtherance of the foregoing sentence, following receipt by CRR Parent of written notice from CRC of a CRC Board decision that CRC requires such cash, CRR Parent shall provide such cash to CRC by capital contribution, loan or advance to be made on the next business day following the expiration of 30 days after receipt of such notice, unless a later date is determined by the CRC Board or another date is agreed in writing by CRC and CRR Parent.

• The General Manager shall prepare and submit to each member of the CRC Board at least 30 days prior to the beginning of each fiscal year of CRC, an Operating Budget for such fiscal year showing the budget amounts of revenues and expenses for each month during such fiscal year, for approval, or modification and approval, by the CRC Board.

• Either of two options for initial funding and reimbursement by the Operators may be determined by the CRC Board at the time it approves a particular project.

• In the event the CRC Board does not specify the method of initial funding and reimbursement in the resolution authorizing the project, then Option One described below shall be the method of such funding and reimbursement.

• The Agreement is --------------------------- hereby amended pursuant to and in compliance with Section 11.1 by deleting the text of subsection 4.2(a) in its entirety and substituting the following therefor: "Following the Control Date, the business and affairs of CRC shall be managed under the direction of the CRC Board consisting of ten persons divided into two classes of five directors.