Sub-contracting of Operations Clause Samples

Sub-contracting of Operations a. Sub-contracting the Operations of Buses/ Bus Service by the Operator is strictly not allowed under this Contract. However, the Operator with prior approval of the Authority may sub-contract its maintenance related obligations, pertaining to Buses, Bus Depot, Parking Space (if any), plant & equipment, either in part or in whole.
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Sub-contracting of Operations a. Sub-contracting the Operations of Bus Service by the Operator may be permitted with prior approval of the Authority and as per rates, terms and conditions of the current contract. Such sub-contracting shall be capped to 20% (twenty percent) of the Buses for a period not exceeding 15 (fifteen) days in a year. Further, the Operator with prior approval of the Authority may sub- contract its maintenance related obligations, pertaining to Buses, Bus Depot, Parking Space (if any), plant & equipment, either in part or in whole;
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Related to Sub-contracting of Operations

  • CONTINUITY OF OPERATIONS Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Statement of Operations Statement of Changes in Net Assets.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.