Authorized Powers Sample Clauses
The 'Authorized Powers' clause defines the specific rights and authorities granted to a party or individual under an agreement. It typically outlines what actions the authorized party may take on behalf of the organization, such as entering into contracts, making financial decisions, or representing the company in legal matters. By clearly delineating these powers, the clause helps prevent unauthorized actions and ensures that all parties understand the scope of authority, thereby reducing the risk of disputes or liability arising from overstepping granted powers.
Authorized Powers. Pursuant to Minn. Stat. 471.59, Subd. 2, in addition to any other powers specifically delegated to the Board by this Agreement, the Board is hereby authorized to:
(a) establish, procure and administer Group Employee Benefits and Other Financial and Risk Management Services;
(b) define and clarify requests for proposals, rights and responsibilities, length of contract, premium or contribution rates and other costs, termination guidelines, the relative liability of the parties, and the method(s) by which parties to this Agreement shall exercise their common powers; and
(c) receive, collect, hold, invest, expend and disburse Program Funds in connection with the exercise of its powers under this Agreement.
Authorized Powers. Notwithstanding the foregoing, the Company expressly acknowledges and agrees that the Contractor has the authority, solely with respect to the Services provided to the Company during the Term of this Agreement and subject to the Governance Documents, to (a) act as an agent or representative of the Company and (b) act for or bind the Company (the “Authorized Powers”). The Contractor’s Authorized Powers include the authority to execute and approve contracts reasonably related to the Services, subject to the Governance Documents and to any limitation that the Stockholders may establish in writing from time to time. The Contractor’s Authorized Powers do not permit the Contractor to respond to or accept offers to purchase all or any portion of the Company or incur additional debt on behalf of the Company without the prior written approval of the majority of the holders of the New Parent Equity. As part of the Contractor’s Authorized Powers, subject to the Governance Documents, the Contractor or ▇▇▇▇▇▇ may execute agreements or amendments thereto on behalf of the Company as “authorized representative” or under the title Chief Executive Officer, as applicable.
Authorized Powers. Except as otherwise provided in this Trust Agreement, the Trustees are empowered to do all things appropriate or necessary for the orderly management and administration of the Trust. Without limiting this general power, and without limiting other powers granted or otherwise possessed by the Trustees under ANCSA or Alaska law, the Trustees shall have (1) the power, with Goldbelt Concurrence, to approve and amend Bylaws governing the internal affairs, operation and management of the Trust and setting forth in more detail the power, authority and discretion of the Trustees, and (2) the power to adopt and amend such other rules, regulations and policies for the conduct of the meetings and the management of the Trust as they may deem proper, and such Bylaws and rules, regulations and policies shall govern except to the extent inconsistent with this Trust Agreement or applicable law. The initial Bylaws of the Trust are attached as Exhibit B.
Authorized Powers of the Company Disclosure Schedule lists all bank accounts and safe deposit boxes maintained by the Company and each Company Subsidiary and the names of persons having signature authority with respect thereto or access thereto.