Creation and Maintenance Clause Samples

The "Creation and Maintenance" clause defines the responsibilities for establishing and upkeeping certain assets, systems, or records as required by the agreement. Typically, this clause specifies which party is responsible for creating necessary documents, infrastructure, or deliverables, and outlines ongoing obligations to maintain them in good working order or compliance with standards. By clearly assigning these duties, the clause ensures that essential resources are properly established and remain functional throughout the contract term, thereby preventing disputes over neglect or unclear responsibilities.
Creation and Maintenance. There shall be established on the books of the Partnership a capital account for each Partner (such Partner’s “Capital Account”) that shall be: (a) Increased by (1) any Contributions made to the Partnership by such Partner pursuant to this Agreement, (2) any part of a Default Charge added to the Capital Account of such Partner pursuant to Section 6.4.2, and (3) any amounts in the nature of income or gain added to the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5; and (b) Decreased by (1) any distributions made to such Partner, (2) any Default Charge subtracted from the Capital Account of such Partner pursuant to Section 6.4.2; and (3) any amounts in the nature of loss or expense subtracted from the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5.
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Creation and Maintenance. Each Party shall create and maintain Records for the activities for which they are responsible under this Quality Agreement in compliance with the Quality Management System requirements.
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Creation and Maintenance. There shall be established on the books of the Company for each Member a capital account (the “Capital Account”) that shall be: (a) Increased by (1) any capital contributions made to the Company by such Member pursuant to this Agreement, and (2) any amounts of Net Gain or items in the nature of income or gain from time to time allocated to such Member pursuant to this Article 8 or Appendix II (other than Section 4 of Appendix II); (b) Decreased by (1) any distributions made to such Member, and (2) any amounts of Net Loss or items in the nature of loss or expense from time to time allocated to such Member pursuant to this Article 8 or Appendix II (other than Section 4 of Appendix II); and (c) Otherwise adjusted in accordance with the provisions of this Agreement including, but not limited to, 6.3.3 (relating to the imposition of a Default Charge).
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Creation and Maintenance. There shall be established on the books of the Partnership a capital account for each Partner (such Partner’s “Capital Account”) that shall be: (a) Increased by (1) any capital contributions made to the Partnership by such Partner pursuant to this Agreement and (2) any amounts in the nature of income or gain added to the Capital Account of such Partner pursuant to this Article 8 or Appendix II; (b) Decreased by (1) any distributions made to such Partner and (2) any amounts in the nature of loss, deduction or expense subtracted from the Capital Account of such Partner pursuant to this Article 8 or Appendix II; and (c) Otherwise adjusted in accordance with the provisions of this Agreement including, but not limited to, 6.2.3 (relating to the imposition of a Default Charge).
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Creation and Maintenance. Supplier shall create and maintain records for the activities for which it is responsible under this Quality Agreement in compliance with its Quality Management System requirements.
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Creation and Maintenance. Cross-References. ..
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Creation and Maintenance. A separate book capital account shall be maintained for each Member of each Series (each a “Capital Account”) in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv), in respect of the Interest held by such Member in such Series. The Capital Account of each Member shall be: (a) Increased by (i) the amount of such Member’s Capital Contribution, (ii) such Member’s distributive share of Net Income (or items of book income or book gain) allocated pursuant to Section 8.2, (iii) any item in the nature of book income or book gain which is specially allocated pursuant to Section 8.4, and (iv) the amount of any Company liabilities assumed by such Company or which are secured by any property distributed to such Member; (b) Decreased by (i) the amount of cash and the Gross Asset Value of any property distributed to such Member, (ii) such Member’s distributive share of Net Loss (or items of book expense or book loss) allocated pursuant to Section 8.2, (iii) any item in the nature of book expense or book loss which is specially allocated pursuant to Section 8.4, and (iv) the amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the Company; and (c) Otherwise adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv) and with the provisions of this Agreement.
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Creation and Maintenance. There shall be established on the books of the Company a capital account for each Member (such Member’s “Capital Account”) that shall be: (a) Increased by (1) any capital contributions made to the Company by such Member pursuant to this Agreement and (2) any amounts in the nature of income or gain added to the Capital Account of such Member pursuant to this Article 8; (b) Decreased by (1) any distributions made to such Member and (2) any amounts in the nature of loss or expense subtracted from the Capital Account of such Member pursuant to this Article 8; and (c) Otherwise adjusted in accordance with the provisions of this Agreement including, but not limited to, 6.2.3 as determined by the Management Committee (relating to the imposition of a Default Charge).
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Creation and Maintenance 
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Related to Creation and Maintenance

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire 17.1.1 During the Operation Period, the Concessionaire shall operate and maintain the Bus Terminal in accordance with this Agreement either by itself, or through the O&M Contractor and if required, modify, repair or otherwise make improvements to the Bus Terminal to comply with the provisions of this Agreement, Applicable Laws and Applicable Permits, and conform to Specifications and Standards and Good Industry Practice. The obligations of the Concessionaire hereunder shall include: (a) permitting safe, smooth and uninterrupted flow of traffic on the Bus Terminal during normal operating conditions. Buses of other state road transport corporations shall be parked inside the Bus Terminal for which no charges shall be payable to the Concessionaire and if any charges are applicable for such parking then it shall be realized by Authority only; (b) minimising incidents affecting the safety and use of the Bus Terminal by providing a rapid and effective response and maintaining liaison with emergency services of the State; (c) carrying out periodic preventive maintenance of the Bus Terminal; (d) undertaking routine maintenance including prompt repairs of ticket counters, Workshops, Authority's Office and other infrastructure as mentioned in the Operation and Maintenance Schedule; (e) undertaking major maintenance such as per the Maintenance Schedule of the major infrastructure in the Bus Terminal; (f) preventing, with the assistance of the concerned law enforcement agencies, any encroachments on the Bus Terminal; (g) protection of the environment and provision of equipment and materials therefor; (h) operation and maintenance of all communication, control and administrative systems necessary for the efficient operation of the Bus Terminal; (i) maintaining a public relations unit to interface with and attend to suggestions from the Users, passengers, government agencies, media and other agencies; (j) complying with Safety Requirements in accordance with Article 18; (k) operation and maintenance of all Project Assets diligently and efficiently and in accordance with Good Industry Practice; (l) maintaining punctuality and reliability in operating the Bus Terminal; and (m) maintaining a high standard of cleanliness and hygiene in the Bus Terminal. 17.1.2 The Concessionaire shall remove promptly from the Bus Terminal all surplus construction machinery and materials, waste materials (including hazardous materials and waste water), rubbish and other debris (including, without limitation, accident debris) and keep the Bus Terminal in a clean, tidy and orderly condition,

  • Construction and Maintenance There are on-going maintenance, renovation and construction projects taking place in and around the residences. The work typically takes place during regular business hours, but may begin earlier or extend into evenings or weekends. On-going construction or renovation projects will continue through midterm and final exam periods. The University will take measures to ensure that prudent construction practices are followed, but there may be noise, dust and temporary interruption of some services. Residents may be required to temporarily or permanently relocate to facilitate construction or renovation to their residence area. There will be no compensation or reduction to your residence fees due to disruption and/or relocation.

  • Installation and Maintenance Except for the bi‐directional and production metering equipment owned by the City, all equipment on Customer’s side of the delivery point, including the required disconnect device, shall be provided and maintained in satisfactory operating condition by Customer and shall remain the property and responsibility of the Customer. The City will bear no responsibility for the installation or maintenance of Customer’s equipment or for any damage to property as a result of any failure or malfunction thereof. The City shall not be liable, directly or indirectly for permitting or continuing to allow the interconnection of the Facility or for the acts or omissions of Customer or the failure or malfunction of any equipment of Customer that causes loss or injury, including death, to any party.

  • Operations and Maintenance Seller shall not during the months of June through September inclusive schedule any non-emergency maintenance that reduces the energy generating capability of the Facility by more than ten percent (10%), unless (i) such outage is required to avoid damage to the Facility, (ii) such maintenance is necessary to maintain equipment warranties and cannot be scheduled outside the months of June through September, (iii) such outage is required in accordance with prudent electrical practices, or (iv) the Parties agree otherwise in writing.

  • Prosecution and Maintenance Each party retains the sole right to protect at its sole discretion the Intellectual Property and Technology owned by such party, including, without limitation, deciding whether to file and prosecute applications to register patents, copyrights and mask work rights included in such Intellectual Property, whether to abandon prosecution of such applications, and whether to discontinue payment of any maintenance or renewal fees with respect to any patents included in such Intellectual Property.