GEC Actions Clause Samples
The "GEC Actions" clause defines the specific actions or decisions that the General Executive Committee (GEC) is authorized or required to take under the agreement. Typically, this clause outlines the scope of the GEC's authority, such as approving budgets, making policy decisions, or overseeing compliance with contractual obligations. For example, it may specify that certain major decisions require a formal vote or that the GEC must review and approve annual reports. The core function of this clause is to clearly delineate the powers and responsibilities of the GEC, ensuring that all parties understand the committee's role and the procedures for its actions, thereby promoting effective governance and accountability.
GEC Actions. Whenever Contractor has not complied with its obligations set forth in Section 3.8.1 or 3.8.2, creating an emergency requiring immediate action, then GEC may take reasonable precautions, but the taking of such action by GEC or GEC’s failure to do so shall not limit the Contractor’s liability or its obligations under this Agreement. Contractor shall reimburse GEC for the reasonable costs incurred by GEC in taking such precautions. Upon Commercial Operation, Owner shall assume responsibility for safety and security of the Facility.