Examples of Owned System in a sentence
PCS shall have full power and authority to take all action necessary to effect the appointment or removal of the general manager or, if applicable, the regional manager or other person with equivalent management responsibility ("System Manager") of the Partnership's interest in any PCS Owned System.
The Partners acknowledge that the Partnership may have fiduciary obligations to and from other Persons in connection with the Partnership's interest in any PCS Owned System.
As soon as practicable following the end of each fiscal year, but in any event within 45 days after the end of the fiscal year, the System Manager for each PCS Owned System shall cause to be prepared and delivered to the President-PCS unaudited statements of income (loss) in respect of such PCS Owned System, and statements of cash flows for such fiscal year, and an unaudited balance sheet of such PCS Owned System, in each case, consistent with Partnership accounting practices.
The Partnership shall take all reasonable actions to cause each Owned System to distribute all Net Operating Available Cash of such Owned System on a monthly basis, to the extent permissible under the governing documents for such Owned Systems.
The accounting records of the Partnership shall be audited by certified public accountants selected by the Partnership Committee and shall contain proportional accounting information with respect to the Partnership's interest in any PCS Owned System.
The System Manager for each Licensed or Owned System shall prepare and distribute, or cause to be prepared and distributed, promptly such reports and other information in respect of such System as the President reasonably may request; provided, however, the reports submitted with respect to any Licensed System shall not include or otherwise reflect any MFJ Restricted Activities undertaken, or to be undertaken, by such Licensed System.
As soon as practicable following the end of each fiscal year, but in any event within 45 days after the end of the fiscal year, the System Manager for each Licensed or Owned System shall cause to be prepared and delivered to the President unaudited statements of income (loss) in respect of such System, and an unaudited statement of cash flows for such fiscal year, and an unaudited balance sheet of such System, in each case, consistent with Partnership accounting practices.
The Partnership shall take all reasonable actions to cause each PCS Owned System to distribute all Net Operating Available Cash of such PCS Owned System on a monthly basis to the extent permissible under the governing documents for such PCS Owned Systems.
The accounting records of the Partnership shall be audited by certified public accountants selected by the Partnership Committee and shall contain proportional accounting information with respect to the Partnership's interest in any Owned System.
The System Manager for each PCS Owned System shall prepare and distribute, or cause to be prepared and distributed, promptly such reports and other information in respect of such PCS Owned System as the President-PCS reasonably may request.