Relationship Between Partners Sample Clauses

The 'Relationship Between Partners' clause defines the legal and operational nature of the association between the parties involved, typically clarifying that they are entering into a partnership and outlining the expectations of their collaboration. This clause may specify whether the relationship is that of equal partners, silent partners, or limited partners, and can address issues such as authority to bind the partnership, sharing of profits and losses, and decision-making processes. Its core function is to ensure all parties have a clear understanding of their roles, responsibilities, and the extent of their authority within the partnership, thereby reducing the risk of misunderstandings or disputes regarding the nature of their business relationship.
Relationship Between Partners. Representation and Warranty of the General Partner 32 Representations and Warranties of Each Limited Partner 32 Limitations on Authority of Each Limited Partner 33 Unlimited Liability of the General Partner 33 Limited Liability of Each Limited Partner 33 Covenant of General Partner with Respect to the Partnership 33 Covenant of General Partner with Respect to Each Limited Partner 33 Indemnification by the General Partner 34 No Encumbrances or Other Transfers 34 No "Canadian Partnership" 34
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Relationship Between Partners. 6 2.1 Formation of the Partnership ...................................................................................6 2.2 Name of the Partnership ...........................................................................................6 2.3 Activities of the Partnership.....................................................................................7 2.4
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Relationship Between Partners. 2.1 The partner organisations may collaborate to submit proposals to donors jointly seeking funding to carry out programmes. Where funding is secured, whichever of Partner Organisations is receiving funding from the donor and therefore has legal responsibility to the donor for expenditure of the funds on the implementation of the Programme will be the lead partner in the partnership. Notwithstanding this, the relationship between the Partner Organisations will be one of equality, transparency and mutual accountability. Each Partner Organisation shall be consulted and their input sought on all issues fundamental to the programme, with each expected to reply within a reasonable amount of time. Communications between the Partner Organisations will at all times be respectful and courteous. If there is a disagreement about how to proceed during the programme, MRG and xxxx will take reasonable steps to try to negotiate a solution or otherwise resolve the issue. If these steps are not successful, whichever partners is the lead partner (i.e. the partner in receipt of funding from the largest donor supporting a programme) will have the final say in resolving any pending issues. Prior to any such decision, the lead partner will inform the other partner both verbally and in writing and will allow the other partner one week to reply.
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Relationship Between Partners. Status of General Partner 3.1 The General Partner represents and warrants to and covenants with each Limited Partner that: (a) the General Partner is and will continue to be a valid and subsisting corporation under the laws of British Columbia or such other jurisdiction under which the General Partner is continued or under which a successor to the General Partner is incorporated, amalgamated or continued, and is and will continue to be qualified to carry on business in British Columbia and in every other jurisdiction in which that qualification is necessary, and (b) the General Partner has and will continue to have the legal capacity and authority to act as the General Partner and to perform its obligations under this Agreement, and those obligations do not and will not conflict with or constitute a default under its constating documents or any agreement by which it is bound. 3.2 Each Limited Partner represents and warrants to and covenants with each other Partner that such Limited Partner: (a) is, and while a Holder will continue to be, “resident” in Canada within the meaning of the Tax Act; (b) is not, and while a Holder will never be, a “non-Canadian” within the meaning of the Investment Canada Act (Canada); (c) has and will continue to have the capacity and competence to enter into and be bound by this Agreement; and (d) will, at the request of the General Partner, from time to time provide such evidence of compliance with such representations, warranties and covenants as the General Partner requires.
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Relationship Between Partners. 2.1 Formation and Name of the Partnership. 14 2.2 Purpose of the Partnership. 14 2.3 Office of the Partnership. 15 2.4 Fiscal Year 15 2.5 Status of Partners. 15 2.6 Limitation on Authority of Limited Partners. 16
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Relationship Between Partners 
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Related to Relationship Between Partners

  • Relationship Between Parties Each party will be deemed to represent to the other party on the date on which it enters into a Transaction that (absent a written agreement between the parties that expressly imposes affirmative obligations to the contrary for that Transaction):

  • RELATIONSHIP BETWEEN THE PARTIES A Party is not by virtue of this Agreement the employee, agent or partner of the other Party and is not authorised to bind or represent the other Party.

  • No Contractual Relationship Between Sub Servicer, Trustee or the Certificateholders. Any Sub-Servicing Agreement and any other transactions or services relating to the Mortgage Loans involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone and the Trustee and the Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to any Sub-Servicer except as set forth in Section 3.05.

  • Relationship Among Parties (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors. (b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained. (c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.

  • Relationship Management LAUSD expects Contractors and their Representatives to ensure that their business dealings with and/or on behalf of LAUSD are conducted in a manner that is above reproach.