Owned and Operated definition

Owned and Operated means (1) the business enterprise is at least 51% owned by a person or persons within one of the respective diversity groups, or in the case of any corporations, limited liability companies or partnerships, at least 51% of the voting stock or interests, as applicable, is owned by a person or persons within one of the respective diversity groups and (2) the management and daily business operations of the business enterprise are controlled by a person or persons within one of the respective diversity groups.
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Examples of Owned and Operated in a sentence

  • Ownership of an M/WBE firm may be by Individuals and/or by other businesses provided the ownership interests in the M/WBE firm can satisfy the M/WBE eligibility requirements for ownership and Control as specified herein in Section III.E.6. The M/WBE firm must also be Independently Owned and Operated in the sense that it cannot be the subsidiary of another firm that does not itself (and in combination with the certified M/WBE firm) satisfy the eligibility requirements for M/WBE Certification.

  • FACILITY OWNED AND OPERATED BY SELLER Facility Owned and Operated by Seller.

  • The Partnership will: maintain the Customer Owned and Operated Infrastructure to prevent or minimise any premature deterioration or fair wear and tear and perform maintenance as appropriate; and ensure that the policy of the Trust Manager for the requisition of ship’s stores, spares, engine room components and maintenance materials is complied with prior to any purchase being undertaken.

  • Deposits Made at FFCU Owned and Operated Automated Teller Machines (ATMs): Funds from any deposits (cash or checks) made at ATMs you do own and operate may not be available until the second business day after the day of my deposit.

  • Company’s obligation shall include at least five percent (5%) of the total amount paid by Company to suppliers of Third Party Products and/or Services attributable to Third Party Products and/or Services obtained from Women Owned and Operated Businesses.

  • For State Owned and Operated Facilities, Alliance shall reimburse facilities that are State-owned and operated by the Division of State Operated Healthcare Facilities according to the rates established by the Department.

  • Access to Customer Owned and Operated Infrastructure is permitted to members of the [Partnership] and no one who is not a partner of [Partnership] will be allowed on the Customer Owned and Operated Infrastructure without prior written permission from Rivtow.

  • Credit Union Owned and Operated ATMs. Funds from any deposits (cash or checks) made at ATMs that we own or operate will not be available until the second business day after the day your deposit is made.

  • For State Owned and Operated Facilities, Alliance shall reimburse facilities that are State- owned and operated by the Division of State Operated Healthcare Facilities according to the rates established by the Department.

  • You must use the phrase "Each Office Independently Owned and Operated" (or a similar slogan which has been approved by ERA) in conspicuous lettering on all business cards and stationery, real estate listing and Transaction documents, advertising, ERA yard signs, purchase and sale documents, listing agreements, all other printed or recorded material you and your sales associates and employees use and in all other places required by state or local law or regulation.