Powers Reserved Clause Samples
The "Powers Reserved" clause defines which rights, authorities, or powers are retained by a particular party, often the governing body or the original grantor, rather than being delegated or transferred. In practice, this clause specifies that certain decisions, approvals, or actions—such as amending the agreement, making key policy changes, or exercising oversight—remain exclusively with the reserving party. By clearly delineating these retained powers, the clause ensures that critical controls are not inadvertently surrendered, thereby maintaining oversight and protecting the interests of the party reserving such powers.
Powers Reserved. The Board does not have any of the powers identified in this subsection (b). Expressly identifying specific powers reserved is not intended to expand, by negative implication, the powers granted above to the Board.
Powers Reserved. The Board of Directors shall have all legal powers not inconsistent with this Interlocal Member Agreement.
Powers Reserved. Exclusively to Each of CMC, MCH and HH. Notwithstanding the foregoing, the authority to take the following actions shall be reserved exclusively to the Board of Directors of CMC and the Board of Trustees of each of MCH and HH regarding its respective hospital:
3.9.3.1 Subject to the limitations below, the investment and expenditure of any of the Hospitals’ Restricted Assets (as defined below) held by the Hospitals both before and after the Affiliation Date or the Pre-affiliation Assets (as defined below) held by the Hospitals on the Affiliation Date (collectively the “Hospital Endowment”). The charitable assets comprising each Hospital Endowment shall be used solely for the benefit of the patient population served by the Hospital that owns the Hospital Endowment, and any Restricted Assets shall be used in accordance with the applicable restrictions. Restricted Assets are those assets that are subject to donor restrictions and recorded on the Hospital’s financial statements as “restricted”,” including those identified in the attached Schedule 3.
(a) Pre-affiliation Assets are the cash reserves, board-designated reserves, surplus assets and other assets held by the Hospitals on the Affiliation Date and recorded on each Hospital’s financial statements as unrestricted assets, as well as certain parcels of real estate not required for the operation of the Hospital as identified on Schedule 3.9.3.1
(b) The current Pre-affiliation Assets of each Hospital are set forth in Schedule 3.9.3.1(b) of this Agreement, which schedule will be updated by each Hospital on the Affiliation Date. While the use of the Hospital Endowment of each Hospital is reserved to the CMC, MCH and HH Boards respectively, the Hospitals have agreed that in order to achieve the goals of the Affiliation and ensure System optimization, Pre-affiliation Assets may not be spent for a purpose or in an amount that would be inconsistent with the strategic plan of the System, be detrimental to the System or have a Material Adverse Effect on the finances or creditworthiness/bond rating(s) of the System or the Hospitals, taking into account, among other things, both the amount of any capital expenditure and the future operating costs resulting from any capital expenditure. The Hospitals further agree that, subject to approval by its Board, the Pre- affiliation Assets may be utilized to support any future financing at the Hospital or System levels CONFIDENTIAL: PRIVILEGED COMMON INTEREST MATERIALS Execution...
Powers Reserved. At any time during the term of the Agreement, LDC reserves the right to exercise street trading powers in its own name in relation to the Designated Streets, should LDC consider it necessary in the interests of good governance.