Permitted Election Not to Contribute Clause Samples

Permitted Election Not to Contribute. At any meeting of the Board of Directors convened to consider a Program and Budget for the next budgetary period towards which, pursuant to sub-section 10.2.2, after the completion of the Initial Investment, the Parties are invited to contribute, either Party, subject to Article 14, may elect not to provide funds for a Program and Budget for such next budgetary period. The election not to contribute will be effective on the first day of the next budgetary period. The Parties electing not to contribute to Project Expenditure (the "Non-contributing Parties") shall serve the other Parties (the "Contributing Parties") with a notice formally recording such decision within three (3) Business Days following the relevant meeting of the Board.
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Permitted Election Not to Contribute. At any meeting of the Board of Directors convened to consider a Program and Budget for the next budgetary period towards which, pursuant to SUB-SECTION 10.2.2, the Parties are invited to contribute, either Party, subject to SECTION 6.14, may elect not to provide funds for that purpose with effect from the first day of such next budgetary period. The Party electing not to contribute to Project Expenditure (the "NON-CONTRIBUTING PARTY") shall serve the other Party (the "CONTRIBUTING PARTY") with a notice formally recording such decision within three (3) Business Days following the relevant meeting of the Board.
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Related to Permitted Election Not to Contribute

  • Am I Eligible to Contribute to a Traditional IRA?

  • Agreement not to Participate in Company’s Competitors During Executive’s employment with the Company, Executive agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by Executive to be adverse or antagonistic to the Company, its business, or prospects, financial or otherwise, or in any company, person, or entity that is, directly or indirectly, in competition with the business of the Company or any of its Affiliates (as defined below). Ownership by Executive, in professionally managed funds over which the Executive does not have control or discretion in investment decisions, or as a passive investment, of less than two percent (2%) of the outstanding shares of capital stock of any corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded on a national securities exchange or in the over-the-counter market shall not constitute a breach of this Section. For purposes of this Agreement, “Affiliate,” means, with respect to any specific entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified entity.

  • FAILURE TO CONTRIBUTE Pursuant to Section ▇▇-▇▇-▇▇▇ of the Act, any contribution must be satisfied by the Member within sixty (60) days from the date of the call for capital. If a Member fails to make its required contributions to the Company, then the other Members may seek enforcement of the obligation to contribute capital. Any remedy under the Act may be pursued, including allowing the individual to become a Member without a transferable interest, provided there is unanimous consent from all Members who have satisfied their contribution obligations.

  • Agreement to Continue in Force Both Parties shall adhere fully to the terms of this Agreement during the period of bona fide collective bargaining.

  • Right to withdraw Sale to withdraw, postpone and call off the sale of the Property at any time prior to the auction date and before the fall of the hammer; and