FUTURE ARRANGEMENT Sample Clauses
The FUTURE ARRANGEMENT clause outlines how the parties will handle or negotiate terms for situations or agreements that may arise after the current contract is executed. Typically, this clause sets out a framework for discussing or formalizing additional agreements, such as extensions, renewals, or new projects, once certain conditions are met or at a specified future date. Its core practical function is to provide a clear process for addressing potential future dealings, reducing uncertainty and ensuring both parties have a mutual understanding of how to proceed when new circumstances develop.
FUTURE ARRANGEMENT. The Borrower shall, as and when required by IREDA appoint and change to the satisfaction of IREDA, suitable technical, financial and executive staff of proper qualifications and experience for the key posts. The terms of such appointments, including any changes therein, shall be subject to prior approval of IREDA.
FUTURE ARRANGEMENT. In addition to your existing deferred compensation account above, the Company shall establish another deferred compensation account on your behalf, which shall be credited with the amount of $100,000, or any amount greater than $100,000 as the Compensation Committee and Board of Directors may determine, on December 31, 2005 and on each subsequent December 31 during the term of this Agreement. This account shall also be credited on December 31, 2006 and each December 31 thereafter with an amount equal to interest on the amount outstanding in the account on the day prior to such December 31 at a rate of 10% per annum. Commencing six months and one day after retirement or termination of employment (or any earlier date after such retirement or termination as may be
FUTURE ARRANGEMENT. The Borrower shall, as and when required by the Lead Institution, appoint and change to the satisfaction of the Lead Institution suitable technical, financial and executive staff of proper qualifications and experience for the key posts. The terms of such appointments including any changes therein, shall be subject to prior approval of the Lead Institution.
FUTURE ARRANGEMENT. Both the Sourcing Framework Agreement and the Key Component Sourcing Contract, when negotiated and executed, did not take into account that the transactions contemplated thereunder may become continuing connected transactions of the Company under Chapter 14A of the Listing Rules, in order to continue the continuing transactions of sale of the Products to, and purchase of the Key Materials from Leshi Zhixin, the Company and Leshi Zhixin are negotiating on New Framework Agreements, which is expected to be concluded on or before 31 December 2016, to govern the rights and obligations of the parties in respect of the sale and purchase of the Products and the Key Materials up to 31 December 2018. The following table sets out the respective actual amounts of the transactions under the Sourcing Framework Agreement and the Key Component Sourcing Contract: For the period from For the period from 18 May 2015 1 January 2016 to 31 December 2015 to 31 March 2016 Sale of the Products by TCL Overseas to ▇▇▇▇▇ ▇▇▇▇▇▇ under the Sourcing Framework Agreement 355,406 277,294 Sourcing of the Key Materials from Leshi Zhixin by TCL Overseas under the Key Component Sourcing Contract 125,786 131,322 The following table sets out the proposed Caps of the continuing connected transactions contemplated under the Sourcing Framework Agreement and the Key Component Sourcing Contract for the period from the day on which ▇▇▇▇▇ ▇▇▇▇▇▇ became a connected person of the Company, i.e. 11 May 2016 to 31 December 2016: Sale of the Products by TCL Overseas to Leshi Zhixin under the Sourcing Framework Agreement 400,000 Sourcing of the Key Materials from Leshi Zhixin by TCL Overseas under the Key Component Sourcing Contract 200,000 The Caps for the transactions contemplated under the Sourcing Framework Agreement and the Key Component Sourcing Contract are determined by reference to, among other things:
FUTURE ARRANGEMENT. In addition to your existing deferred compensation account above, the Company shall establish another deferred compensation account on your behalf, which shall be credited with the amount of $125,000 on December 31, 2005 and on each subsequent December 31 during the term of this Agreement, provided that beginning on December 31, 2007 and each subsequent December 31 during the term of this Agreement, such amount credited shall be $150,000, provided further that beginning on December 31, 2010 and each subsequent December 31 during the term of this Agreement, such amount credited shall be $175,000. This account shall also be credited on December 31, 2005 and each December 31 thereafter with an amount equal to interest on the amount outstanding in the account on the day prior to such December 31 at a rate equal to the prime rate of JPMorgan Chase on such date plus 2%. Commencing six months and one day after retirement or termination of employment, the Company shall pay you, for 120 months, an amount equal to the amount then outstanding in the deferred compensation account divided by the number of payments remaining to be made. The account shall be reduced by the amount of any payments and shall continue to be credited with interest annually on the amount outstanding in the account. In the event of your death the Company shall make payments to your estate. Such payments to your ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Esq. Amended and Restated Employment Agreement October 30, 2009 estate shall be made in the same manner as specified above, except that such payments shall commence within one month of your death. You understand and agree, and the Company agrees, that the deferred compensation account is solely a bookkeeping account, does not represent a segregated amount of money for your benefit, and that you shall not have by virtue of this Agreement a security interest in the foregoing account or in any assets or funds of the Company.
FUTURE ARRANGEMENT. In the event the Parties agree to proceed with further collaboration upon the successful completion of the Purpose herein, the Parties shall enter into one or more definitive agreement(s) as the Parties deem fit upon mutually acceptable terms and conditions as may be agreed upon between the Parties. Such definitive agreements shall address matters such as intellectual property rights, warranty/liability etc.
FUTURE ARRANGEMENT i) If an event of default as specified in 9.1 hereof shall have happened the Company shall appoint to the satisfaction of the Debenture Holders the following personnel of proper qualification and experience namely full time Managing Director / Manager as defined in the Companies ▇▇▇ ▇▇▇▇ or Financial Controller. The appointment / reappointment of the said personnel as also the terms and remuneration of such appointment / reappointment or any change in their office or remuneration shall be subject to the prior approval in writing of the Debenture Holders;
ii) The Company shall satisfy the Debenture Holders that it has appointed / will appoint technical, financial and executive staff of proper qualifications and experience for the key posts;
iii) The Company shall prepare and furnish to the Debenture Holder an organisation chart showing the name of the senior executives in its employ, their duties and responsibilities, etc. and shall also keep the Debenture Holders informed of the change in the composition of the Board of Directors and of the senior executives and when brought about in organisation.
iv) In case the Company is not regular or if there is a default in the payment of instalment or interest or if the business of the Company is conducted in a manner opposed to public policy or in the opinion of the Debenture Holders in a manner prejudicial to the interests of the Debenture Holders, the Debenture Holders shall have the right to review the management set up or organisation of the company and to require the Company to restructure the management set up or organisation in a manner considered suitable by the Debenture Holders and the Company shall comply with the same.
FUTURE ARRANGEMENT. In addition to your existing deferred compensation account above, the Company shall establish another deferred compensation account on your behalf, which shall be credited with the amount of $125,000 on December 31, 2005 and on each subsequent December 31 during the term of this Agreement. This account shall also be credited on December 31, 2005 and each December 31 thereafter with an amount equal to interest on the amount outstanding in the account on the day prior to such December 31 at a rate equal to the prime rate of JPMorgan Chase on such date plus 2%. Commencing six months and one day after retirement or termination of employment, the Company shall pay you, for 120 months, an amount equal to the amount then outstanding in the deferred compensation account divided by the number of payments remaining to be made. The account shall be reduced by the amount of any payments and shall continue to be credited with interest annually on the amount outstanding in the account. In the event of your death the Company shall make payments to your estate. Such payments to your estate shall be made in the same manner as specified above, except that such payments shall commence within one month of your death. You understand and agree, and the Company agrees, that the deferred compensation account is solely a bookkeeping account, does not represent a Segregated amount of money for your benefit, and that you shall not have by virtue of this Agreement a security interest in the foregoing account or in any assets or funds of the Company.