Common use of Treasury Functions Clause in Contracts

Treasury Functions. The Manager shall be authorised to operate the Company's bank accounts in accordance with such principles as the Company from time to time shall approve. The Manager shall, when specifically authorised to do so by the Company, open bank accounts in the Company's or such Subsidiary’s name and enter into account agreements and all such other contracts or agreements as shall be required for this purpose. The Manager shall develop a cash management policy for the Golar Power Group, which shall be presented to and approved by the Company, and continuously review the same. The Manager shall furthermore ensure that such policy is implemented in accordance with its terms. The Manager shall be authorised to collect all amounts due from third parties to the Company and shall be responsible for the establishment and implementation of efficient procedures for the purpose of collecting any overdue amounts. The Manager shall settle the Company's debts to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on the Company's behalf. The Manager shall settle all inter-company accounts between the Company and other entities in the Golar Power Group and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.

Treasury Functions. The Manager shall be authorised to operate the Company's ’s bank accounts in accordance with such principles as the Company from time to time shall approve. The Manager shall, when specifically authorised to do so by the Company, open bank accounts in the Company's ’s or such Subsidiary’s name and enter into account agreements and all such other contracts or agreements as shall be required for this purpose. The Manager shall prepare and provide, or arrange for the preparation and provision of, regular cash reports and other accounting information for review by the Company, so as to permit and enable the Board to make all determinations of financial matters required to be made pursuant to the Bye-Laws, including the determination of amounts available for distribution by the Company to its Shareholders, and to assist the Company in making arrangements with the transfer agent for the Company for the payment of distributions, if any, to the Shareholders in accordance with the Bye-Laws. The Manager shall develop a cash management policy for the Golar Power Hygo Group, which shall be presented to and approved by the Company, and continuously review the same. The Manager shall furthermore ensure that such policy is implemented in accordance with its terms. The Manager shall be authorised to collect all amounts due from third parties to the Company and shall be responsible for the establishment and implementation of efficient procedures for the purpose of collecting any overdue amounts. The Manager shall settle the Company's ’s debts with Company funds to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on the Company's ’s behalf. The Manager shall settle all inter-company accounts between the Company and other entities in the Golar Power Hygo Group and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.

Treasury Functions. (a) The Manager shall be authorised to operate the Company's ’s bank accounts in accordance with such principles as the Company Board from time to time shall approve. The Manager shall, when specifically authorised to do so by the CompanyBoard, open bank accounts in the Company's or such Subsidiary’s name and enter into account agreements and all such other contracts or agreements as shall be required by the banks and others for this purpose. . (b) The Manager shall provide the Board with liquidity budgets and cash-flow reports pertaining to the Company and the ▇▇▇▇▇▇▇ Group in such form and at such intervals as the Board shall require. (c) The Manager shall develop a cash management policy for the Golar Power GroupCompany, which shall be presented to and approved by the CompanyBoard, and continuously review the same. The Manager shall furthermore ensure that such policy is implemented in accordance with its terms. . (d) The Manager shall be authorised to collect all amounts due from third parties to the Company on the Company’s behalf and shall be responsible for the establishment and implementation follow-up of efficient procedures for the purpose of collecting any overdue amounts. . (e) The Manager shall arrange for the Company to settle the Company's its debts to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on the Company's ’s behalf. . (f) The Manager shall settle all inter-company accounts between the Company and other entities in the Golar Power Group Subsidiaries and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.;