Agents Agreements Clause Samples
The 'Agent’s Agreements' clause defines the specific terms and conditions that govern the relationship between an agent and the principal. It typically outlines the agent’s duties, authority, compensation, and any limitations or obligations related to their role, such as reporting requirements or confidentiality. For example, it may specify what actions the agent is authorized to take on behalf of the principal and under what circumstances. This clause ensures both parties have a clear understanding of their respective rights and responsibilities, thereby reducing the risk of misunderstandings or disputes regarding the agent’s conduct or scope of authority.
Agents Agreements. 2.01 The Agent will undertake all activities which will further and enhance the business and affairs of the Company as it is directed by the Board of Directors of the Company or the President. For purposes of this Agreement, “Company” means the Company and all of its subsidiaries and affiliates. The Agent acknowledges that the Company initially has limited personnel and resources, and that the Agent will be requested to undertake activities which will be outside the general nature of work ordinarily performed by the Agent of a corporation operating in a foreign country. The Agent, at the expense of and on behalf of the Company, shall:
(a) make and implement or cause to be implemented all lawful decisions of the Board of Directors of the Company (the “Board”) in accordance with and as limited by this Agreement; and
(b) at all times be subject to the direction of the Board and shall keep the Board informed as to all material matters concerning the Agent’s activities.
Agents Agreements. SCHEDULE 6.13 hereto sets forth a complete and accurate list or description of all written agents', salesmen's, brokers', dealers', distributors', subcontractors', manufacturer's representatives' or similar agreements, arrangements or understandings to which Albex or SABI is a party.
Agents Agreements. The Agent acknowledges that (a) during the term of this Agreement and so long as no Event of Default has occurred and is continuing hereunder, it will comply with the terms and conditions of its agreement with the Letter of Credit Bank regarding the Letter of Credit so as not to permit a default to occur thereunder and (b) so long as no Event of Default has occurred and is continuing under the Credit Agreement, the Agent shall charge the Company's loan account with Agent under the Credit Agreement as a Bond Letter of Credit Loan at the times and in the amounts necessary to pay all amounts payable hereunder when due so as not to cause a default hereunder with respect to the payment of such amounts.
Agents Agreements. The Company shall have obtained duly executed Agents Agreements from all managing general agents and independent general agents listed on Schedule 4.
Agents Agreements