General Principles of Relationship Sample Clauses

The 'General Principles of Relationship' clause defines the foundational terms and expectations governing the interaction between the parties to an agreement. It typically outlines the nature of the relationship—such as whether it is one of partnership, agency, or independent contractors—and clarifies that neither party has authority to bind the other beyond what is expressly stated. By establishing these baseline principles, the clause helps prevent misunderstandings about the parties' roles and responsibilities, ensuring clarity and reducing the risk of unintended legal obligations.
General Principles of Relationship. 2.1. This Agreement determines covenants governing the relationship between the Bank and the HFSF and the matters related with, amongst others, (a) the corporate governance of the Bank, (b) the development and approval of the Restructuring Plan, (c) the material obligations of the Restructuring Plan, (c) the monitoring of the implementation of the Restructuring Plan and the Bank’s ensuing risk profile, (d) the HFSF’s consent for Material Matters (as defined in Clause 3.5a of this Agreement), and (f) the handling of Material Litigation and Proceedings concerning the Bank. 2.2. Subject to this Agreement, the applicable Law and the Charter Documents, the Bank’s decision making bodies will continue to determine independently, amongst others, the Bank’s commercial strategy and policy (including business plans and budgets) in compliance with the Restructuring Plan and the decisions on the day-to-day operation of the Bank will continue to rest with the Bank’ s competent bodies and officers, as the case may be, in accordance with their statutory, legal and fiduciary responsibilities. 2.3. The Bank shall furnish the HFSF, its designated representatives and their professional advisors with all information and data concerning the Bank Group and related matters in order for the HFSF to safeguard its property rights and its investment, monitor the Bank’s implementation of the Restructuring Plan and to exercise its statutory and contractual rights and fulfill its statutory obligations. To that end the Bank shall cooperate effectively and the HFSF’s Executive Board and the Bank’s Executive Committee members shall meet at least once per quarter and the Bank’s management and the HFSF’s senior officers shall meet at least once per month. 2.4. The HFSF shall: a) Ensure that there is no cross-directorship or transfer of sensitive commercial non-publicly available information regarding the Bank by the HFSF and to any other credit institution in which the HFSF has a stake. b) Manage and maintain its interest in the Bank separately from the management of its interests in other credit institutions. c) Not exercise its rights in the Bank and any other rights held in any other credit institution in a manner which would aim at a prevention, restriction, distortion of competition or an abuse of dominant position. d) Ensure that, in exercising their rights, the HFSF Representatives shall respect the Bank’s business autonomy and independence in the decision making of the Bank in compli...
View SourceView Similar (4)
General Principles of Relationship 
View SourceView Similar (3)
General Principles of Relationship 
View SourceView Similar (3)

Related to General Principles of Relationship

  • Commercial Relationship You expressly recognize that your participation in the Plan and the Company’s grant of the Award does not constitute an employment relationship between you and the Company. You have been granted the Award as a consequence of the commercial relationship between the Company and the Company’s affiliate in Mexico that employs you, and the Company’s local affiliate in Mexico is your sole Employer. Based on the foregoing, (a) you expressly recognize the Plan and the benefits you may derive from your participation in the Plan do not establish any rights between you and the Company’s affiliate in Mexico that employs you, (b) the Plan and the benefits you may derive from your participation in the Plan are not part of the employment conditions and/or benefits provided by the Company’s affiliate in Mexico that employs you, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of your employment with the Company’s affiliate in Mexico that employs you.

  • Termination of Relationship If Optionee terminates Continuous Status as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • General Relationship Executive shall be considered an employee of the Company within the meaning of all federal, state and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers’ compensation, industrial accident, labor and taxes.

  • Management and Operation of Business Section 7.1 Management 61 Section 7.2 Replacement of Fiduciary Duties 63 Section 7.3 Certificate of Limited Partnership 63 Section 7.4 Restrictions on the General Partner’s Authority 63 Section 7.5 Reimbursement of the General Partner 64 Section 7.6 Outside Activities 65 Section 7.7 Indemnification 65 Section 7.8 Limitation of Liability of Indemnitees 67 Section 7.9 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 68 Section 7.10 Other Matters Concerning the General Partner 70 Section 7.11 Purchase or Sale of Partnership Interests 70 Section 7.12 Registration Rights of the General Partner and its Affiliates 71 Section 7.13 Reliance by Third Parties 73

  • COMMERCIAL REUSE OF SERVICES The member or user herein agrees not to replicate, duplicate, copy, trade, sell, resell nor exploit for any commercial reason any part, use of, or access to 's sites.