Common use of Purpose and Management Clause in Contracts

Purpose and Management. 6.1 The primary purpose of the Company will be to develop the Business in accordance with the Business Plan and each subsequent Annual Business Plan thereafter. At all times during the term of this Agreement: 6.1.1 the Company shall operate policies which are consistent with the Council Mission Statement; 6.1.2 the business of the Company will consist exclusively of the Business; 6.1.3 with the exception of those matters reserved to the Council pursuant to the Corporate Covenants, all the business of the Company, other than routine day to day business, shall be undertaken and transacted by the Directors; 6.1.4 no payment will be made by the Company and no cheque or payment instruction of the Company shall be signed other than in accordance with the mandates (general or specific) authorised by the Board from time to time; 6.1.5 the Company will conduct the Business and its affairs in a proper and efficient manner and for its own benefit and in accordance with the Business Plan.

Purpose and Management. 6.1 The primary purpose of the Company will be to develop the Business in accordance with the Business Plan and each subsequent Annual Business Plan thereafter. At all times during the term of this Agreement: 6.1.1 the Company shall operate policies which are consistent with the Council Mission Statement; 6.1.2 the business of the Company will consist exclusively of the Business; 6.1.3 with the exception of those matters reserved to the Council pursuant to the Corporate Covenants, all the business of the Company, other than routine day to day business, shall be undertaken and transacted by the Directors; 6.1.4 no payment will be made by the Company and no cheque or payment instruction of the Company shall be signed other than in accordance with the mandates (general or specific) authorised by the Board from time to time;; and 6.1.5 the Company will conduct the Business and its affairs in a proper and efficient manner and for its own benefit and in accordance with the Business Plan and Annual Business Plan.