Nature of Operations Clause Samples
The "Nature of Operations" clause defines the fundamental business activities and scope of operations of a company or entity as outlined in the agreement. It typically describes what the company does, the industry it operates in, and any specific limitations or authorizations regarding its business activities. For example, it may state that a company is engaged in manufacturing electronics or providing consulting services. This clause ensures all parties have a clear understanding of the entity’s business purpose, helping to set expectations and avoid disputes about the company’s permitted activities under the agreement.
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Nature of Operations. The City hereby grants to the Service Provider, in accordance with the City's ordinances and regulations governing the collection, hauling and recycling or disposal of Municipal Solid Waste and Recyclable Materials, the title to all Municipal Solid Waste and Recyclable Materials collected, hauled and recycled or disposed of by the Service Provider over, upon, along and across the City's present and future streets, alleys, bridges and public properties. All title to and liability for materials excluded from this Agreement shall remain with the generator of such materials.
Nature of Operations. Tasman Metals Ltd. ("
Nature of Operations. Substantially change the nature or operations of their business as conducted on the date hereof;
Nature of Operations. Washington Gas Light Company (Washington Gas or the company) is a public utility that delivers and sells natural gas to over 875,000 customers in Washington, D.C. and parts of Maryland and Virginia. Deliveries to firm customers accounted for 68.7 percent of the company’s total therm deliveries in fiscal year 2000. The company does not depend on one customer or group of customers. During the fiscal year ended September 30, 2000, the company had a regulated distribution company, Shenandoah Gas Company (Shenandoah) that served the northern Shenandoah Valley in Virginia. Effective April 1, 2000, that subsidiary’s operations were merged into Washington Gas and the company continues to serve the former subsidiary’s customers. The company also had one wholly owned regulated subsidiary that operates an underground gas storage field on the company’s behalf. In fiscal year 2000, most of the company’s unregulated operations were organized under a wholly owned subsidiary, Washington Gas Resources Corp. (Washington Gas Resources). These unregulated operations include retail energy marketing; heating, ventilating and air conditioning (HVAC) products and services; and financing of gas appliances and other energy-related equipment for consumers. Effective November 1, 2000, a corporate restructuring occurred in which Washington Gas and its subsidiaries became separate subsidiaries of WGL Holdings, Inc. (WGL Holdings), a newly formed holding company. See Note 2 for details regarding the restructuring.
Nature of Operations. The Company is primarily involved in the short-term rental of equipment and sales of parts, supplies, and used equipment to commercial and residential construction, mining, manufacturing, distribution, and agriculture customers throughout the western United States. The Company also sells new equipment as a distributor for major equipment manufacturers. The Company’s operations are located primarily in Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Texas, Utah and Washington. Accordingly, the Company’s consolidated results of operations can be significantly impacted by the general economic cycles of the aforementioned industries in these states.
Nature of Operations. Development Stage Activities The Company, through its wholly owned U.S. subsidiary Safety-Ject intends to develop, manufacture and market disposable medical devices designed to protect health care professionals from the risk of needlestick injuries. There have been no commercial sales of the products to date.
Nature of Operations. Not Applicable.
Nature of Operations. The Company manufactures and markets a wide variety of products in the U.S. and around the world in two distinct business segments: Oral, Personal and Household Care, and Pet Nutrition. Oral, Personal and Household Care products include toothpastes, oral rinses and toothbrushes, bar and liquid soaps, shampoos, conditioners, deodorants and antiperspirants, baby and shave products, laundry and dishwashing detergents, fabric softeners, cleansers and cleaners, bleaches and other similar items. These products are sold primarily to wholesale and retail distributors worldwide. Pet Nutrition products include pet food products manufactured and marketed by Hill's Pet Nutrition. The principal customers for Pet Nutrition products are veterinarians and specialty pet retailers. Principal global trademarks include Colgate, Palmolive, Mennen, Protex, Ajax, Soupline/Suavitel, Fab, Science Diet and Prescription Diet in addition to various regional trademarks. The Company's principal classes of products accounted for the following percentages of worldwide sales for the past three years: ---- ---- Oral Care 31% 30% 30% Personal Care 23 22 22 Household Surface Care 16 16 16 Fabric Care 16 18 18 Company products are marketed under highly competitive conditions. Products similar to those produced and sold by the Company are available from competitors in the U.S. and overseas. Product quality, brand recognition and acceptance, and marketing capability largely determine success in the Company's business segments. The financial and descriptive information on the Company's geographic area and industry segment data, appearing in the tables contained in Management's Discussion, is an integral part of these financial statements. More than 60% of the Company's net sales, operating profit and identifiable assets are attributable to overseas operations. Transfers between geographic areas are not significant. The Company's products are generally marketed by a sales force employed by each individual subsidiary or business unit. In some instances, distributors and brokers are used. Most raw materials are purchased from others, are available from several sources and are generally available in adequate supply. Products and commodities such as tallow and essential oils are subject to wide price variations. No one of the Company's raw materials represents a significant portion of total material requirements. Trademarks are considered to be of material importance to the Company's business; conseq...
Nature of Operations. BASIC OF PRESENTATION
Nature of Operations. Except as set forth on Schedule 3.05(b), the Issuer owns more than 50% of (i) the economic interest in the assets, earnings or cash flow and (ii) the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof, of each of the entities in which it owns an equity interest. Each such entity is primarily engaged in the production or sale of a product or service other than the investment of capital, and the Issuer is primarily engaged through such entities in the production or sale of a product or service other than the investment of capital. The aggregate revenues generated by entities listed on Schedule 3.05(b) constituted no more than 5% of the consolidated revenues of the Issuer for the year ended December 31, 1997; since December 31, 1997, there has not been any material change in the percentage of revenues generated by entities.