Powers and Discretions Sample Clauses

The "Powers and Discretions" clause defines the authority and flexibility granted to a party, typically an agent, trustee, or manager, to make decisions and take actions as they see fit within the scope of the agreement. This clause often outlines the specific powers conferred, such as the ability to invest assets, manage property, or make operational decisions, and may clarify whether these actions require consultation or can be taken independently. Its core practical function is to provide clarity and legal certainty about the extent of decision-making authority, reducing ambiguity and potential disputes over what actions are permitted under the contract.
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Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇ (to the extent not inconsistent herewith) and by way of supplement it is expressly declared as follows: 28.15.1 the Agent shall be at liberty to place any of the Finance Documents and any other instruments, documents or deeds delivered to it pursuant thereto or in connection therewith for the time being in its possession in any safe deposit, safe or receptacle selected by the Agent or with any bank, any Guarantor whose business includes undertaking the safe custody of documents or any firm of lawyers of good repute; 28.15.2 the Agent may, whenever it thinks fit, delegate by power of attorney or otherwise to any person or persons or fluctuating body of persons all or any of the rights, trusts, powers, authorities and discretions vested in it by any of the Finance Documents and such delegation may be made upon such terms and subject to such conditions (including the power to sub-delegate) and subject to such regulations as the Agent may think fit and the Agent shall not be bound to supervise, or be in any way responsible for any loss incurred by reason of any misconduct or default on the part of, any such delegate (or sub-delegate); 28.15.3 notwithstanding anything else herein contained, the Agent may refrain from doing anything which would or might in its opinion be contrary to any law of any jurisdiction or any directive or regulation of any agency of any state or which would or might otherwise render it liable to any person and may do anything which is, in its opinion, necessary to comply with any such law, directive or regulation; 28.15.4 save in the case of gross negligence or wilful misconduct, the Agent and every attorney, agent, delegate, sub-delegate and any other person appointed by any of them under any of the Finance Documents may indemnify itself or himself out of the security held by the Agent against all liabilities, costs, fees, charges, losses and expenses incurred by any of them in relation to or arising out of the taking or holding of any of the security constituted by, or any of the benefits provided by, any of the Finance Documents, in the exercise or purported exercise of the rights, trusts, powers and discretions vested in any of them or in respect of any other matter or thing done or omitted to be done in any way relating to any of the Finance Documents or pursuant to any law or regulation; and 28.15.5 without prejudice to the provision...
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Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇ (to the extent not inconsistent herewith) and by way of supplement it is expressly declared as follows:
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Powers and Discretions. To the extent not inconsistent with this Deed, the ---------------------- Security Agent shall have the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇.
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Powers and Discretions. 18.1 Zokal may exercise any right, function, power or discretion under this agreement in its absolute discretion. Zokal may give conditionally or unconditionally or withhold its approval in its absolute discretion unless this agreement expressly says otherwise.
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Powers and Discretions. Save as expressly provided in this deed. (a) until the security hereby constituted shall have become enforceable the Administrative Agent shall in granting any consent or waiver or exercising any power, trust, authority or discretion vested in it under the Security Documents, act as it in its reasonable discretion shall think fit, in which case it shall be in no way responsible for any loss, costs, damages or expenses which may result from the exercise of non-exercise thereof save in the case of its own negligence or wilful misconduct; and
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Powers and Discretions. The rights, powers and discretions given to the Lender in this Guarantee and Debenture:- 13.1.1 may be exercised as often as and in such manner as, the Lender thinks fit; 13.1.2 are cumulative, and are not exclusive of any of its rights under the general law; and 13.1.3 may only be waived in writing and specifically, and any delay in exercising, or non- exercise of, any right, is not a waiver of it.
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Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee Act 1925 (to the extent not inconsistent herewith) and by way of s▇▇▇▇▇▇▇▇t it is expressly declared as follows:
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Related to Powers and Discretions

  • Rights and discretions (a) The Agent may rely on: (i) any representation, notice or document (including, without limitation, any notice given by a Lender pursuant to paragraph (b) or paragraph (c) of Clause 28.2 (Disenfranchisement on Debt Purchase Transactions entered into by Investor Affiliates)) believed by it to be genuine, correct and appropriately authorised; and (ii) any statement made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 26.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised; (iii) any notice or request made by the Company (other than a Utilisation Request) is made on behalf of and with the consent and knowledge of all the Obligors; and (iv) no Notifiable Debt Purchase Transaction: (A) has been entered into; (B) has been terminated; or (C) has ceased to be with an Investor Affiliate. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Without prejudice to the generality of paragraph (e) above, the Agent may disclose the identity of a Defaulting Lender to the other Finance Parties and the Company and shall disclose the same upon the written request of the Company or the Majority Lenders. (g) Notwithstanding any other provision of any Finance Document to the contrary, none of the Agent or the Arranger is obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. (h) The Agent is not obliged to disclose to any Finance Party any details of the rate notified to the Agent by any Lender or Base Reference Bank or the identity of any such Lender or Base Reference Bank for the purpose of Clause 14.2(a)(ii) (Market Disruption).

  • Rights and discretions of the Agent (a) The Agent may rely on: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised; and (ii) any statement made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 22.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised; and (iii) any notice or request made by the Parent (other than a Utilisation Request) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent nor the Arrangers are obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. (g) Without prejudice to the generality of paragraph (f) above, the Agent may disclose the identity of a Defaulting Lender to the other Finance Parties and the Parent and shall disclose the same upon the written request of the Parent or the Majority Lenders. (h) The Agent may not disclose to any Finance Party any details of the rate notified to the Agent by any Lender or the identity of any such Lender for the purpose of paragraph (a)(ii) of Clause 10.2 (Market Disruption).

  • Board Discretion Approval of extended professional leave is a discretionary decision 43 of the Board and is not subject to the grievance procedure.

  • Powers and Duties Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Credit Documents as are specifically delegated or granted to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Each Agent shall have only those duties and responsibilities that are expressly specified herein and the other Credit Documents. Each Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. No Agent shall have, by reason hereof or any of the other Credit Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Credit Documents, expressed or implied, is intended to or shall be so construed as to impose upon any Agent any obligations in respect hereof or any of the other Credit Documents except as expressly set forth herein or therein.

  • DISCIPLINE AND DISCHARGE A. Disciplinary actions or measures shall include but not be limited to the following: Oral Reprimand Written Reprimand Suspension - Maximum of 30 days (notice given in writing) Discharge - (notice given in writing) A demotion in classification may be substituted by the Employer in place of a suspension or a discharge; a disciplinary transfer may be made in lieu of an oral or written reprimand. Discipline shall be uniformly applied using a progressive disciplinary procedure, where appropriate. B. Disciplinary action may be imposed upon an employee only for failure to fulfill his/her responsibilities as an employee. Suspensions of less than ten (10) days and lesser disciplining actions may be administered by the Superintendent or his/her designee. C. No discipline of record shall be given to any employee until the employee has read the written statement and had an opportunity to attach a statement of explanation or rebuttal; or if the employee so desires, be given a hearing. At such hearing, the employee may have Union representation. The employee will be asked to sign the disciplinary report to signify knowledge of the statement only. The signature will not be interpreted to signify acceptance or denial of guilt of the charges or statement. D. Upon request by the employee, records of oral and written reprimands shall be removed from an employee's record twelve (12) months from the date of the offense and records of suspensions shall be removed from an employee's records two (2) years from the date of the offense. E. The Employer shall not discipline or discharge any employee without just cause. Any disciplinary action may be appealed through the grievance procedure. Steps of the grievance procedure may mutually be waived in order that the grievance may be filed with the person issuing such disciplinary actions.