Approval Thresholds Clause Samples

The Approval Thresholds clause defines the minimum level of consent or authorization required for certain decisions or actions to be valid under an agreement. Typically, this clause specifies which decisions need approval from a majority, supermajority, or unanimous vote among stakeholders, such as board members or shareholders. By clearly outlining these requirements, the clause ensures that significant actions cannot be taken unilaterally, thereby promoting transparency and preventing disputes over decision-making authority.
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Approval Thresholds. 1. For procurements of any items with a total value, $10,000.00 and below no COR or KO approval is required. 2. For procurements of any items with a total value between $10,000.01 and $150,000.00 COR approval is required. 3. For procurements of any items (excluding software licenses) with a total value between $150,000.01 and $700,000.00, COR and KO approval is required. If the COR approves the request, the COR shall provide the request for approval to the KO. The KO shall provide notification of disapproval or approval to the COR and Contractor.
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Approval Thresholds. Only material included in the above list of Allowable Material may be procured under any individual task orders under this contract. No material with a unit cost of $150,000.01, or greater, without COR and KO approval, shall be procured under this contract. No procurement from a single source with a total value—the total sum of all items—of $750,000.00 or greater may be procured under this contract. For procurements (excluding software licenses) with a total value of $10,000.00 and below, no prior COR concurrence or Contracting Officer approval is required. For procurements (excluding software licenses) with a total value between $10,000.01 and $150,000.00, prior COR concurrence is required. For procurements with a total value between $150,000.01 and $750,000.00, both COR concurrence and Contracting Officer approval is required prior to purchasing the material. If the COR concurs with the request, the COR will provide the request for approval to the Contracting Officer. The Contracting Officer will provide notification of disapproval or approval to the COR and Contractor. CLAUSES INCORPORATED BY FULL TEXT
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Approval Thresholds. The Operator and the Technical Services Provider shall establish budget limits for each Joint Venture individually and/or for the Services jointly in order to identify thresholds for values of bids, contract values etc. above which a review and approval of the Technical Services Provider's procurement strategy, bidders list and contract award is to be performed by the Operator.
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Approval Thresholds. Only material included in the above list of Allowable Material may be procured under any individual task orders under this contract. No material with a unit cost of $150,000.01, or greater, without COR and KO approval, shall be procured under this contract. No procurement from a single source with a total value—the total sum of all items—of $750,000.00 or greater may be procured under this contract. For procurements (excluding software licenses) with a total value of $10,000.00 and below, no prior COR concurrence or Contracting Officer approval is required. For procurements (excluding software licenses) with a total value between $10,000.01 and $150,000.00, prior COR concurrence is required. For procurements with a total value between $150,000.01 and $750,000.00, both COR concurrence and Contracting Officer approval is required prior to purchasing the material. If the COR concurs with the request, the COR will provide the request for approval to the Contracting Officer. The Contracting Officer will provide notification of disapproval or approval to the COR and Contractor. CLAUSES INCORPORATED BY FULL TEXT (a) The Contractor shall- (1) Exercise due diligence to ensure that none of the funds, including supplies and services, received under this contract are provided directly or indirectly (including through subcontracts) to a person or entity who is actively opposing United States or Coalition forces involved in a contingency operation in which members of the Armed Forces are actively engaged in hostilities; (2) Check the list of prohibited/restricted sources in the System for Award Management at www.▇▇▇.gov- (i) Prior to subcontract award; and (ii) At least on a monthly basis; and (3) Terminate or void in whole or in part any subcontract with a person or entity listed in ▇▇▇ as a prohibited or restricted source pursuant to subtitle E of Title VIII of the NDAA for FY 2015, unless the Contracting Officer provides to the Contractor written approval of the Head of the Contracting Activity to continue the subcontract. (b) The Head of the Contracting Activity (HCA) has the authority to - (1) Terminate this contract for default, in whole or in part, if the Head of the Contracting Activity determines in writing that the contractor failed to exercise due diligence as required by paragraph (a) of this clause; or (i) Void this contract, in whole or in part, if the Head of the Contracting Activity determines in writing that any funds received under this contract have b...
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Approval Thresholds. Except as set forth subsection (f), below, decisions of the Management Committee will be taken by the simple majority of all Managers.
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Approval Thresholds. Whenever approval of the Member Committee of Series One is required pursuant to Section 9.3(a), such approval shall require the affirmative vote of Series One Members representing a Supermajority in Interest; provided, however, that, with respect to Member Committee approval under Sections 9.3(a)(ii), (iv), (vi), or (vii), such approval shall require the affirmative votes of Representatives of Series One Members holding not less than 90% of the total Series One Percentage Interest; and with respect to Member Committee approval under Section 9.3(a)(ix) and (xii), such approval shall require the affirmative votes of Representatives of Series One Members holding 100% of the Series One Percentage Interest; and with respect to Member Committee approval under Section 9.3(a)(xv) and Section 9.3(a)(xvi), such approval shall require the affirmative votes of Representatives of Series One Members holding not less than a Majority in Interest (excluding the PC Member for such purposes of such calculation). Whenever approval of the Member Committee of Series Two is required pursuant to Section 9.3(b), such approval shall require the affirmative vote of Series Two Members representing a Supermajority in Interest; provided, however, that with respect to Member Committee approval under Section 9.3(b)(v), such approval shall require the affirmative votes of Representatives of Series Two Members representing 100% of the Series Two Percentage Interest; and with respect to Member Committee approval under Section 9.3(b)(vii) and Section 9.3(b)(viii), such approval shall require the affirmative votes of Representatives of Series Two Members representing not less than a Majority in Interest (excluding the PC Member and its Affiliates for such purposes of such calculation). All determinations of a Member Committee are at the sole and absolute discretion of the Member Committee and the Representatives on such Member Committee.
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Approval Thresholds. In determining the dollar value of a transaction involving a currency other than Hong Kong dollars (“HK$”), or in the case of a non-cash transaction or transaction involving a currency other than HK$, the HK$ equivalent shall apply. (1) If the Related Party Transaction has a value of, requires the Group Companies in the aggregate to pay, involves a commitment of, will result in gross revenues to the Group Companies in the aggregate of or otherwise involves less than HK$2 million, then the relevant Group Company may enter into that Related Party Transaction provided that the Related Party Transaction is beneficial and fair to the relevant Group Company and its terms are commercially arm’s length and all relevant provisions of this Policy have been complied with. (2) If the Related Party Transaction has a value of, requires the Group Companies to pay, involves a commitment of, will result in gross revenues to the Group Companies in the aggregate of or otherwise involves HK$2 million or more but, unless paragraph (3) below applies, less than HK$8 million, the Related Party Transaction must be referred to the Conflicts Committee for approval. (3) All Related Party Transactions having a value of, requiring the Group Companies to pay, involving a commitment of, resulting in gross revenues to the Group Companies in the aggregate of or otherwise involving HK$8 million or more in circumstances where approval is not required under the Shareholders’ Agreement or Section V. (C) or where approval is required under Section V. (C) but there exists at the time no Shareholder Group to approve such transaction, must be referred to the Conflicts Committee for approval. (4) No Group Company may enter into any of the following Related Party Transactions without first obtaining the approval of the Shareholders in accordance with Section V. (C): (a) Whether or not sub-paragraphs (b) through (f) of this paragraph (4) are applicable, has a value of, requires the Group Companies to pay, involves a commitment of, will result in gross revenues to the Group Companies in the aggregate of or otherwise involves HK$8 million or more; (b) is any licensing or royalty agreement with the Company as either licensee or licensor (excluding any inter Group Company agreement) having a term (inclusive of all renewal options) of five years or more; (c) involves a loan or advance of any amount; (d) involves the sale or purchase of real property or the lease of any real property having a term of five ...
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Approval Thresholds. For procurements with a total value of $10,000.01 and below, no prior COR concurrence or Contracting Officer approval is required. For procurements with a total value between $10,000.01 and $150,000.00, prior COR concurrence is required. For procurements with a total value between $150,000.01 and $750,000.00, both COR concurrence and Contracting Officer approval is required prior to purchasing the materiel. If the COR concurs with the request, the COR will provide the request for approval to the Contracting Officer. The Contracting Officer will provide notification of disapproval or approval to the COR and Contractor.
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Related to Approval Thresholds

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Approved Budget (a) On the last Thursday of each month after the Second Amendment Effective Time, on or before 12:00 pm (New York City time) on such Thursday, Administrative Borrower shall prepare and deliver to the Administrative Agent, for review and approval by the Required DDTL Approving Lenders, an updated week-by-week operating budget for the then subsequent month (each a “Budget” and, once approved as set forth below, the “Approved Budget”), which shall reflect Administrative Borrower’s good faith projection, for the Borrowers and their respective Restricted Subsidiaries, of (a) all weekly receipts (including from asset sales) and expenditures (including ordinary course operating expenses and any other fees and expenses related to the Loan Documents) in connection with the operation of their businesses, (b) weekly disbursements, and (c) net cash flow, in each case, for such month. The Budget delivered during the week of March 4, 2024 shall be the Approved Budget for March 2024. Together with delivery of the Budget, Administrative Borrower shall provide the Administrative Agent (for subsequent delivery to the Lenders) a variance report (“Variance Report”) in a form and substance reasonably acceptable to the Required DDTL Approving Lenders, comparing the actual receipts, disbursements, and net cash flow for such month through the immediately preceding week compared to the Approved Budget, both in dollar ($) and percentage (%) figures and an explanation of the variance. Each week promptly after the delivery of the Variance Report, the Borrower’s senior management and financial professionals shall review the Variance Report in detail during a telephonic conference with the Lenders. If the proposed Budget was timely delivered and contains the requisite information, the Lenders shall have until 2:00 p.m. (New York City Time) on the first Business Day of the following week to review any Budget after which time such Budget shall become an Approved Budget for all purposes hereunder; provided, no such Budget shall become an Approved Budget if reasonably objected to in writing (which may include e-mail) during the review period by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) or Required DDTL Approving Lenders. (b) In the event that an event or circumstance occurs in between the monthly dates on which the Budgets are otherwise due pursuant to Section 6.24(a) which would make the then current Budget materially inaccurate, within two (2) Business Days of becoming aware of such event or circumstance, the Administrative Borrower shall provide notice of such event or circumstance to the Administrative Agent and the Lenders and promptly deliver a revised Budget reflecting the impact thereof. Without limiting the foregoing, the Budget shall be updated, modified or supplemented by the Administrative Borrower with the written consent of the Administrative Agent (at the direction of the Required DDTL Approving Lenders), and upon the request of the Administrative Agent (at the direction of the Required DDTL Approving Lenders) from time to time. (c) Each Budget delivered to the Administrative Agent and the Lenders shall be accompanied by such supporting documentation as reasonably requested by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) and shall be prepared in good faith, with due care and based upon assumptions the Borrower believe to be reasonable. (d) Within one (1) Business Day of any Loan Party having knowledge of their occurrence or existence, Administrative Borrower shall provide the Administrative Agent and Lenders with written notice of any event or condition which is reasonably likely to entail expenditures of more than $100,000 which is not included in the Approved Budget (including, but not limited, on account of an accident, environmental event or other unanticipated occurrence) or which would otherwise be reasonably likely to have a negative impact on the value of the Loan Parties’ and their Subsidiaries’ assets or future business prospects or a similar event.

  • Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by October 31, 2024.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.