OBJECTIVE OF THE OFP Sample Clauses

OBJECTIVE OF THE OFP. In accordance with the Bye-laws, the purpose of the OFP is to act as an institution for occupational retirement provision within the meaning of the IBP law. The objective and the activity of the OFP as described in the Bye-Laws relate to the financial and administrative management of the Pension Schemes that are financed by the Sponsoring Companies. When fulfilling its objective, the OFP shall act in accordance with the principle of prudence.
AutoNDA by SimpleDocs

Related to OBJECTIVE OF THE OFP

  • PERFORMANCE OBJECTIVES 4.1 The Performance Plan (Annexure A) sets out-

  • Objectives and Scope 1. The Parties confirm their joint objective of strengthening their relations by developing their political dialogue and reinforcing their cooperation.

  • Performance Goals A. The Trust and State Street have developed mutually acceptable performance goals dated March 1, 2011 , and as may be amended from time to time, regarding the manner in which they expect to deliver and receive the services under this Agreement (hereinafter referred to as “Service Level Agreement”). The parties agree that such Service Level Agreement reflects performance goals and any failure to perform in accordance with the provisions thereof shall not be considered a breach of contract that gives rise to contractual or other remedies. It is the intention of the parties that the sole remedy for failure to perform in accordance with the provisions of the Service Level Agreement, or any dispute relating to performance goals set forth in the Service Level Agreement, will be a meeting of the parties to resolve the failure pursuant to the consultation procedure described in Sections V. B. and V.C. below. Notwithstanding the foregoing, the parties hereby acknowledge that any party’s failure (or lack thereof) to meet the provisions of the Service Level Agreement, while not in and of itself a breach of contract giving rise to contractual or other remedies, may factor into the Trust’s reasonably determined belief regarding the standard of care exercised by State Street hereunder.

  • Particular Methods of Procurement of Consultants’ Services 1. Quality- and Cost-based Selection. Except as otherwise provided in paragraph 2 below, consultants’ services shall be procured under contracts awarded on the basis of Quality and Cost-based Selection.

  • Performance; No Default The Company shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and after giving effect to the issue and sale of the Notes (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing.

  • Nature of the Option This Option is intended to be a nonstatutory stock option and is not intended to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), or to otherwise qualify for any special tax benefits to the Optionee.

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

  • Project Objectives The Program consists of the projects described in Annex I (each a “Project” and collectively, the “Projects”). The objective of each of the Projects (each a “Project Objective” and collectively, the “Project Objectives”) is to:

  • Objectives The objectives of this Agreement are to:

  • Agreement Objectives The parties agree that the objectives of the Agreement are to facilitate:

Time is Money Join Law Insider Premium to draft better contracts faster.