3Purposes Clause Samples
The 'Purposes' clause defines the specific objectives or intended uses for which the agreement or contract is established. It typically outlines the scope of activities, services, or transactions that the parties are permitted to undertake under the agreement, such as the development of a product, provision of services, or sharing of information. By clearly stating these purposes, the clause helps prevent misunderstandings or disputes about what is allowed, ensuring that both parties have a mutual understanding of the contract's intended scope and limitations.
3Purposes. The purposes for which the Company is formed are to engage in any activity within the purposes for which a limited liability company may be formed under the Act.
3Purposes. The purposes of the Trust are, and the Trust has all requisite power, authority and authorization to engage in, the following activities: (i) to acquire and/or own the Real Estate and enter into, execute, deliver and perform the Leases and the other Transaction Documents to which it is or becomes a party from time to time; (ii) to hold for investment and eventually dispose of the Real Estate; and (iii) to take only such other actions as the Manager deems necessary to carry out the foregoing. Neither the Delaware Trustee, the Manager, Investors or Beneficial Owners, nor any of their agents, shall provide services: (a) that are not “customary services” within the meaning of Revenue Ruling 75-374, 1975-2 C.B. 261; (b) the payment for which would not qualify as “rents from real property” within the meaning of Code Section 512(b)(3)(A)(i) and the Regulations thereunder; or (c) the payment for which would not qualify as “rents from real property” within the meaning of Code Sections 856(c)(2)(C) and 856(c)(3)(A) and the Regulations thereunder. The Trust shall conduct no business other than as specifically set forth in this Section 2.3.
3Purposes. The Company is formed for the following purposes:
(a) to conduct Exploration on the Properties and within the Area of Interest;
(b) to acquire additional real property and other interests within the Area of Interest;
(c) to evaluate the possible Development and Mining of the Properties and other Assets acquired within the Area of Interest;
(d) to engage in Development and Mining on the Properties and other Assets acquired within the Area of Interest;
(e) to engage in the marketing, sale and distribution of Products, to the extent provided in Section 7.3; and
(f) to perform any other activities necessary, appropriate or incidental to any of the foregoing or to satisfy or comply with Environmental Compliance obligations, Continuing Obligations and Laws.