The Approval Sample Clauses
The Approval clause establishes the requirement for one or more parties to formally consent to certain actions, decisions, or documents within an agreement. In practice, this clause may specify which actions require approval, the process for obtaining it, and who holds the authority to grant or withhold consent—such as a manager needing to sign off on expenditures or a client needing to approve deliverables before work proceeds. Its core function is to ensure that key stakeholders retain control over important decisions, thereby reducing the risk of unauthorized actions and promoting accountability.
The Approval.
(A) Each Head of School will, before the end of May each year, consider all applications received for the following year and make recommendations to the SDVC.
(B) Any applications which include a departure from the provisions of this Policy must demonstrate why departure from the Policy is in the best interests of the University as part of the Head of School’s recommendation to the SDVC.
(C) Priority may be given to applications from the previous round which could not be granted because of School requirements, and from employees who have provided a statement for evaluation of Achievement Relative to Opportunity.
(D) The process of evaluating proposals and considering Achievement Relative to Opportunity should be transparent and applied fairly in relation to each eligible employee. Information about the evaluation process should be available to eligible employees.
The Approval. On 3 January 2009, the Premier of New South Wales formally announced that planning approval had been granted to Silverton Wind Farm Developments Pty Ltd. Concurrently, negotiations were being finalised for the land tenure documents illustrated in the previous diagram and on 30 June 2009 the Minister for Lands executed the Agreement for Lease with Silverton Wind Farm Developments Pty Ltd. This was done on the basis that the Deeds for Grant of Consent between Land Owner (LPMA) and the Western Lands Lessees had previously been executed. The execution of those documents by the Western Lands lessees provided the written approval required under the legislation enabling the State to enter into a direct lease with the Developer.
The Approval. If the Plan is adopted by the Board of Directors of First Benefits, First Benefits will file this Plan with the North Carolina Department for approval. The request for approval of the Plan (“Request”) will contain the following:
(1) an application for approval of the Plan amendment to its articles of incorporation
(2) the plan of conversion and a certificate of the secretary of the converting mutual certifying the adoption of the plan by the board of directors.
(3) A statement of the reasons for the proposed conversion and why the conversion is in the best interests of the converting mutual, the eligible members, and the other policyholders. The statement must include an analysis of the risks and benefits to the converting mutual and its members of the proposed conversion and a comparison of the risks and benefits of the conversion with the risks and benefits of reasonable alternatives to a conversion.
(4) A five‑year business plan and at least two years of financial forecasts of the former mutual and any parent company.
(5) Any plans that the former mutual or any parent company may have to:
a. Raise additional capital through the issuance of stock or otherwise;
b. Sell or issue stock to any person, including any compensation or benefit plan for directors, officers, or employees under which stock may be issued;
c. Liquidate or dissolve any company or sell any material assets;
d. Merge or consolidate or pursue any other form of reorganization with any person; or e. Make any other material change in investment policy, business, corporate structure, or management.
(6) Any plans for a delayed distribution of consideration to eligible members or restrictions on sale or transfer of stock or other securities.
(7) A copy of the form of trust agreement, if a distribution of consideration is to be delayed by more than six months after the effective date of the conversion.
(8) A plan of operation for a closed block, if a closed block is used for the preservation of the reasonable dividend expectations of eligible members and other policyholders with policies that provide for the distribution of policy dividends.
(9) Copies of the amendment to the articles of incorporation proposed by the board of directors and proposed bylaws of the former mutual and copies of the existing and any proposed articles of incorporation and bylaws of any parent company.
(10) A list of all individuals who are or have been selected to become directors or officers of the former mutual and an...
The Approval