Formal Approval Clause Samples
The Formal Approval clause establishes that certain actions, decisions, or documents within an agreement require explicit authorization from designated parties before they become effective. In practice, this means that progress on a project, changes to the contract, or the release of funds may be contingent upon receiving written or documented approval from specified individuals or entities. This clause ensures that all critical steps are reviewed and sanctioned by the appropriate authority, thereby reducing the risk of unauthorized commitments and maintaining control over key aspects of the contractual relationship.
POPULAR SAMPLE Copied 1 times
Formal Approval. On or Before January 8, 1997, The Windsor Corporation --------------- --------------- shall indicate in writing if it approves, or rejects, the purchase of the Property under the terms and conditions of this Agreement (the "Formal Approval").
3.4 PROFESSIONALS' REVIEW, inspection and verification will occur and Buyer --------------------- shall provide escrow with written approval of these professionals' findings prior to January 8, 1997. Seller agrees to fully cooperate with these --------------- professionals:
3.4.1 an MAI appraisal of the Property will be obtained at Buyer's expense; 3
Formal Approval. The Professional Project Plan must be formally approved within the first sixty (60) workdays. If mutual agreement is not reached within the first sixty (60) workdays, the evaluatee(s) shall follow the evaluation procedures delineated for Tier II participants.
Formal Approval. Owner and the City agree that this contract is subject to approval by the City Council of the City of Manor.
Formal Approval. This Agreement has been formally approved by the Councils whose seals have been attached below
Formal Approval. May and July 2017
Formal Approval. This document establishes and contains all the terms of the Covenant Relationship between Westminster College and the Synod of Mid-America. The covenant will become effective upon formal action by the Trustees of Westminster College and the General Council of the Synod of Mid-America. Formal ratification of the Covenant shall be done at the first meeting of the Synod of Mid-America following its adoption by the General Council. An appropriate ceremony celebrating ratification of the Covenant shall be held on the campus of Westminster College.
Formal Approval. Systems or Applications used by the Government and for which the Government dictates, approves, or disapproves changes. These Systems and Applications are managed under a joint Change Control Board (CCB) where Government and contractor participate in addressing Change Requests (CRs) and other issues.
Formal Approval. This Contract is expressly subject to and contingent upon formal approval by the governing bodies of the parties.
Formal Approval. The Beacon Council Economic Development Foundation, Inc. may enter into a transaction or arrangement in which a Covered Person has a conflict of interest if:
(i) The Covered Person has disclosed the conflict of interest in accordance with this Policy;
(ii) A majority of directors who have no interest in the transaction or arrangement approve the transaction or arrangement at a Board or committee meeting after determining, in good faith and after reasonable investigation, that the transaction or arrangement is fair and reasonable to The Beacon Council Economic Development Foundation, Inc. and is in The Beacon Council Economic Development Foundation, Inc.’s best interest;
(iii) Any Covered Person who has an actual or potential conflict with respect to the transaction or arrangement does not participate in and is not present for the vote regarding any such transaction or arrangement (provided, however, that any such Covered Person may appear at a meeting to answer questions concerning the transaction or arrangement); and
(iv) In any arrangement or transaction involving compensation, remuneration or other economic or financial benefit to the Covered Person, the Board of Directors relies upon appropriate comparability data, such as an independent appraisal or an independent compensation study, in reaching its determination as to the fairness and reasonableness of the transaction or arrangement to The Beacon Council Economic Development Foundation, Inc.