Limitations on Authority of Operator Sample Clauses

The "Limitations on Authority of Operator" clause defines the specific boundaries within which an operator may act on behalf of the parties involved in an agreement. Typically, this clause outlines actions the operator is expressly prohibited from taking without prior approval, such as entering into contracts above a certain value, making significant operational changes, or incurring liabilities beyond set thresholds. By clearly delineating these limits, the clause ensures that the operator cannot unilaterally make decisions that could materially affect the interests of the other parties, thereby protecting stakeholders and maintaining oversight over key operational decisions.
Limitations on Authority of Operator. Notwithstanding anything contained in this Agreement to the contrary (unless otherwise stated in this Section 2.04), and in addition to the various other provisions of this Agreement which prohibit Operator from taking certain actions or which allow certain actions only if Owner's consent thereto has been obtained, Operator shall not, without the prior written approval of Owner, which approval Owner may withhold in its sole discretion, perform any of the following actions on behalf of Owner: 1. Acquire any land or interest therein; 2. Acquire any capital assets or interest therein except: (i) items in the approved Building Estimate; and (ii) FF&E, Fixed Asset Supplies and Inventories (to the extent the same constitute capital assets) in the ordinary course of business as expressly provided for in this Agreement; 3. Finance, refinance or mortgage any portion of the Retirement Community or the revenue due to Owner therefrom; 4. Sell (other than dispositions of FF&E, Fixed Asset Supplies and Inventories in the ordinary course of business as expressly provided for in this Agreement), lease (other than as expressly provided for in this Agreement), or otherwise transfer, or pledge or place any lien or encumbrance on, any part of the Retirement Community; 5. In the event of a total or partial condemnation, consent to any award or participate in any condemnation proceeding, except as expressly provided for in this Agreement; 6. Enter into, modify or terminate any lease, concession or license or other agreement, otherwise permitted under Section 2.02 if (i) a non-Retirement Community related use is involved, (ii) the term of the proposed agreement will exceed the lesser of five (5) years or the remaining Term, or (iii) the proposed agreement involves the exclusive use of more than fifteen hundred (1,500) square feet within the Retirement Community. For this purpose, a "non-Retirement Community use" shall mean any use which is not ultimately for the primary benefit of residents of the Retirement Community; 7. Adjust any claim or settle any Litigation which: (i) is not covered by any of the insurance policies described in Article 12 and is not an Employee Claim, and which would result in an Operating Expense or payment in excess of Twenty Five Thousand Dollars ($25,000.00) in any Fiscal Year, or One Hundred Thousand Dollars ($100,000.00) in any Fiscal Year in the aggregate for all such claims, both as adjusted by the CPI; or (ii) would impose on Owner any material li...
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Limitations on Authority of Operator 
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Related to Limitations on Authority of Operator

  • Limitations on Authority The authority of the Board over the conduct of the business affairs of the Company shall be subject only to such limitations as are expressly stated in this Agreement or in the Act.

  • Limitation on Authority A. Grantee shall not have any authority to act for or on behalf of the System Agency or the State of Texas except as expressly provided for in the Grant Agreement; no other authority, power, or use is granted or implied. Grantee may not incur any debt, obligation, expense, or liability of any kind on behalf of System Agency or the State of Texas. B. Grantee may not rely upon implied authority and is not granted authority under the Grant Agreement to: i. Make public policy on behalf of the System Agency; ii. Promulgate, amend, or disregard administrative regulations or program policy decisions made by State and federal agencies responsible for administration of a System Agency program; or iii. Unilaterally communicate or negotiate with any federal or state agency or the Texas Legislature on behalf of the System Agency regarding System Agency programs or the Grant Agreement. However, upon System Agency request and with reasonable notice from System Agency to the Grantee, the Grantee shall assist the System Agency in communications and negotiations regarding the Work under the Grant Agreement with state and federal governments.

  • Organization; Authority Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

  • Organization, Authority and Significant Subsidiaries The Company has been duly incorporated and is validly existing and in good standing under the laws of its jurisdiction of organization, with the necessary power and authority to own, operate and lease its properties and conduct its business as it is being currently conducted, and except as has not, individually or in the aggregate, had and would not reasonably be expected to have a Company Material Adverse Effect, has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification; each subsidiary of the Company that would be considered a “significant subsidiary” within the meaning of Rule 1-02(w) of Regulation S-X under the Securities Act of 1933 (the “Securities Act”), has been duly organized and is validly existing in good standing under the laws of its jurisdiction of organization. The Charter and bylaws of the Company, copies of which have been provided to Treasury prior to the Signing Date, are true, complete and correct copies of such documents as in full force and effect as of the Signing Date and as of the Closing Date.

  • Pertinent Non-Discrimination Authorities During the performance of this contract, the Engineer, for itself, its assignees, and successors in interest agree to comply with the following nondiscrimination statutes and authorities; including but not limited to: A. Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq., 78 stat. 252), (prohibits discrimination on the basis of race, color, national origin); and 49 CFR Part 21. B. The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, (42 U.S.C. § 4601), (prohibits unfair treatment of persons displaced or whose property has been acquired because of Federal or Federal-aid programs and projects). C. Federal-Aid Highway Act of 1973, (23 U.S.C. § 324 et seq.), as amended, (prohibits discrimination on the basis of sex). D. Section 504 of the Rehabilitation Act of 1973, (29 U.S.C. § 794 et seq.) as amended, (prohibits discrimination on the basis of disability); and 49