Appointment of an Operator Sample Clauses

Appointment of an Operator. 4.3.1 At the same time as submitting the Joint Operating Agreement under clause 4.1 the Contractor shall nominate an Operator. If the SPA has reasonable grounds for refusal of the proposed Operator (such to be notified to the Contractor), the SPA may refuse grant of approval within forty-five (45) days following submission of Joint Operating Agreement, at which point the Parties shall work together in good faith to agree an appropriate Operator. To the extent that Parties cannot come to a mutual agreement within twenty (20) days following the Contractor's receipt of the SPA's refusal, such dispute shall be deal with in accordance with clause 48.2 (Expert Determination). 4.3.2 In case of expiry of the period of forty-five (45) days following submission to the SPA without the SPA either approving or refusing grant of approval, the Operator (including any change of the Operator) shall be deemed approved by the SPA. 4.3.3 In the event that an existing Operator ceases to be the Operator, the Contractor shall within thirty (30) days propose a new Operator to the SPA, which shall be approved by the SPA in accordance with clause 4.3.1. 4.3.4 If the Contractor does not put forward a proposal for a new Operator in accordance with clause 4.3.3 or clause 4.4.2, or a proposed Operator is not approved by the SPA (such approval not to be unreasonably withheld or delayed) and: 4.3.4.1 the Operator is being replaced pursuant to clause 4.4.1 the SPA may, by written notice to the Operator and the Persons constituting the Agreement terminate this Agreement due to the agreement’s material default.; or 4.3.4.2 the Operator is being replaced for any reason other than pursuant to clause 4.4.1, the decision of approving a new Operator shall be referred to an expert for determination in accordance with clause 48.2 (Expert Determination). 4.3.5 When submitting a request to the Federal Government for approval of a new Operator in accordance with clause 4.3.3 the Contractor shall also provide the SPA with proof of the technical and financial capacity and professional skills of the proposed assignee.
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Appointment of an Operator. 3.3.1 As at the Effective Date the Operator shall be [♦]. 3.3.2 In the event that an existing Operator ceases to be the Operator, the Licensee shall within thirty (30) days propose a new Operator to the Commissioner. 3.3.3 If the Commissioner has reasonable grounds for refusal of the proposed Operator (such grounds to be notified to the Licensee), the Commissioner may refuse gr▇▇▇ of approval within twenty (20) days following receipt of the proposal, at which point the Parties shall work together in good faith to agree an appropriate Operator. In case of expiry of the period of twenty (20) days without the Commissioner approving or refusing grant of approval, the Operator nominated by the Licensee shall be deemed approved by the Commissioner. 3.3.4 If the Licensee does not put forward a proposal for a new Operator or a proposed Operator is not approved by the Commissioner (such approval not to be unreasonably withheld or delayed) and: (a) the Operator is being replaced pursuant to Article 3.5.1, the Commissioner may, by written notice to the Operator and the Persons constituting the Licensee, terminate this Licence due to the Licensee‟s material default in accordance with Article 28.2.; or (b) the Operator is being replaced for any reason other than pursuant to Article 3.5.1, the decision of approving a new Operator shall be referred to an expert for determination in accordance with Article 31 (Expert Determination ) and subject to Article 3.3.5. 3.3.5 Where Article 3.3.4(b) applies as a result of the Commissioner rejecting the Licensee‟s proposed Operator, and where: (a) the expert determines that the Commissioner acted reasonably, the Licensee shall propose a new Operator. Until such time as a new Operator is accepted by the Commissioner under this Article 3.3, the Operator who is being replaced shall continue to be the Operator; or (b) the expert determines that the Commissioner acted unreasonably, the Operator proposed by the Licensee pursuant to Article 3.3.2 shall be deemed approved by the Commissioner.
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Related to Appointment of an Operator

  • Appointment of Manager The Trust hereby employs the Manager, and the Manager hereby accepts such employment, to render investment advice and related services with respect to the assets of the Fund for the period and on the terms set forth in this Agreement, subject to the supervision and direction of the Trust’s Board of Trustees.

  • Appointment of receivers and managers any administrative or other receiver is appointed anywhere of any Security Party or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of any Security Party; or

  • Appointment of the Manager The Trust is engaged in the business of investing and reinvesting its assets in securities of the type and in accordance with the limitations specified in its Declaration of Trust, as amended and supplemented from time to time, By-Laws (if any) and Registration Statement filed with the Securities and Exchange Commission (the "Commission") under the 1940 Act and the Securities Act of 1933 (the "Securities Act"), including any representations made in the prospectus and statement of additional information relating to the Funds contained therein and as may be amended or supplemented from time to time, all in such manner and to such extent as may from time to time be authorized by the Trust's Board of Trustees (the "Board"). The Board is authorized to issue any unissued shares in any number of additional classes or series. The investment authority granted to the Manager shall include the authority to exercise whatever powers the Trust may possess with respect to any of its assets held by the Funds, including, but not limited to, the power to exercise rights, options, warrants, conversion privileges, redemption privileges, and to tender securities pursuant to a tender offer, and participate in class actions and other legal proceedings on behalf of the Funds. The Trust hereby appoints the Manager, subject to the direction and control of the Board, to manage the investment and reinvestment of the assets in the Funds and, without limiting the generality of the foregoing, to provide the other services specified in Section 2 hereof. The Trust hereby appoints the Manger to provide the Fundlevel duties and services as set forth in Section 2(b) hereof, for the compensation and on the terms herein provided, and the Manager hereby accepts such appointment. Each new investment portfolio established in the future by the Trust shall automatically become a "Fund" for all purposes hereunder as if it were listed on Schedule A, absent written notification to the contrary by either the Trust or the Manager.

  • APPOINTMENT OF ADVISER The Manager hereby appoints the Adviser to act as an investment adviser for the Fund, subject to the supervision and oversight of the Manager and the Trustees of the Trust, and in accordance with the terms and conditions of this Agreement. The Adviser will be an independent contractor and will have no authority to act for or represent the Trust or the Manager in any way or otherwise be deemed an agent of the Trust or the Manager except as expressly authorized in this Agreement or another writing by the Trust, the Manager and the Adviser.

  • Appointment of Advisor The Trust hereby employs the Advisor and the Advisor hereby accepts such employment, to render investment advice and related services with respect to the assets of the Fund for the period and on the terms set forth in this Agreement, subject to the supervision and direction of the Trust’s Board of Trustees (the “Board of Trustees”).