Scheme or device Clause Samples

The 'Scheme or device' clause defines and addresses any arrangements, plans, or mechanisms that are intentionally structured to achieve a particular outcome, often in the context of compliance, avoidance, or manipulation of contractual or legal obligations. In practice, this clause typically applies to situations where a party might attempt to circumvent the intent of an agreement or regulation by creating artificial structures or transactions. For example, it may prevent a party from using complex financial arrangements to avoid tax liabilities or contractual duties. The core function of this clause is to close loopholes and ensure that the substance of an agreement or law is upheld, preventing parties from exploiting technicalities to evade their responsibilities.
Scheme or device. All or any part of the payments oth- erwise due a person under the upland cotton, wheat, feed grain and rice pro- grams on all farms in which the person has an interest may be withheld or re- quired to be refunded if the person adopts or participates in adopting any scheme or device designed to evade or which has the effect of evading the rules of this part. Such acts shall in- clude, but are not limited to, con- cealing from the county committee any information having a bearing on the application of the rules of this part or submitting false information to the county committee (for example, a set- aside agreement which is entered into that differs from information furnished to the county committee concerning the manner in which program pay- ments are actually shared, concerning the actual facts of a sale, or concerning the transfer of property) or creating fictitious entities for the purpose of concealing the interest of a person in a farming operation.
View SourceView Similar (6)
Scheme or device. (a) If it is determined by the NRCS that a cooperating entity has employed a scheme or device to defeat the pur- poses of this part, any part of any pro- gram payment otherwise due or paid such a cooperating entity during the applicable period may be withheld or be required to be refunded with inter- est thereon, as determined appropriate by NRCS on behalf of CCC. (b) A scheme or device includes, but is not limited to, coercion, fraud, mis- representation, depriving any other person or entity of payments for ease- ments for the purpose of obtaining a payment to which a person would oth- erwise not be entitled.
View Source
Scheme or device. If the PRODUCER is suspected by STATE to have knowingly: (1) adopted any scheme or device which violates this Agreement; (2) made any fraudulent representation; (3) misrepresented any fact affecting a determination under this Agreement; or (4) otherwise violated the terms and conditions of the 2008 AGP, the STATE will notify the appropriate investigating agencies of the STATE and the United States Department of Agriculture and may terminate the Agreement with a full refund of all benefits received there under, plus interest, and the PRODUCER will be subject to penalties under applicable civil and criminal laws.
View Source
Scheme or device. (a) If it is determined by NRCS that a eligible entity has employed a scheme or device to defeat the purposes of this part, any part of any program payment otherwise due or paid to such an eligible entity during the applicable period may be withheld or be required to be refunded, with interest, as deter- mined appropriate by NRCS on behalf of the CCC. (b) A scheme or device includes, but is not limited to, coercion, fraud, mis- representation, and depriving any other person or entity of payments for easements for the purpose of obtaining a payment to which a person would otherwise not be entitled.
View Source

Related to Scheme or device

  • RE-WEIGHING PRODUCT Deliveries are subject to re- weighing at the point of destination by the Authorized User. If shrinkage occurs which exceeds that normally allowable in the trade, the Authorized User shall have the option to require delivery of the difference in quantity or to reduce the payment accordingly. Such option shall be exercised in writing by the Authorized User.

  • Board Composition Each Holder agrees to vote, or cause to be voted, all Shares owned by such Holder, or over which such Holder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special meeting of stockholders at which an election of directors is held or pursuant to any written consent of the stockholders, subject to Section 5, the following persons shall be elected to the Board: (a) As the Series A Director, one person designated from time to time by a majority of the holders of Series A Preferred Stock (the “Series A Designee”), for so long as 1,000,000 share of Series A Preferred Stock are outstanding, which number is subject to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like, which individual shall initially be ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇; (b) As the Common Stock Director, one person designated from time to time by a majority of the holders of Common Stock (the “Common Stock Designees”), which individual shall initially be ▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and (c) The Company’s Chief Executive Officer, who as of the date of this Agreement is ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ M.D. (the “CEO Director”), provided that if for any reason the CEO Director shall cease to serve as the Chief Executive Officer of the Company, each of the Holders shall promptly vote their respective Shares (i) to remove the former Chief Executive Officer of the Company from the Board if such person has not resigned as a member of the Board; and (ii) to elect such person’s replacement as Chief Executive Officer of the Company as the new CEO Director. To the extent that any of clauses (a) through (c) above shall not be applicable, any member of the Board who would otherwise have been designated in accordance with the terms thereof shall instead be voted upon by all the Holders of the Company entitled to vote thereon in accordance with, and pursuant to, the Restated Certificate. For purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity (collectively, a “Person”) shall be deemed an “Affiliate” of another Person who, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled by one (1) or more general partners, managing members or investment advisers of, or shares the same management company or investment adviser with, such Person.

  • Optional Mediation The Parties may mutually agree to non-binding mediation: (a) If the grievance is not resolved at Step 3, either Party may request that a Mediator be appointed to meet with the Parties, investigate and define the issues in dispute and facilitate a resolution. (b) The Mediator shall be appointed by mutual agreement between the Parties. (c) The purpose of the Mediator's involvement in the grievance process is to assist the Parties in reaching a resolution of the dispute, and anything said, proposed, generated or prepared for the purpose of trying to achieve a settlement is to be considered privileged and will not be used for any other purpose. (d) The expenses of the Mediator shall be equally borne by both Parties. (e) The grievance may be resolved by mutual agreement between the Parties.

  • Safety Devices All Products provided under the Contract shall be equipped with required safety devices to comply with all applicable codes, laws, and regulations that are in effect at the time of delivery.

  • Change in Board Composition During any period of two consecutive years, individuals who constitute the Company’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or