Treasury Functions Clause Samples
The Treasury Functions clause defines the responsibilities and activities related to managing an organization's financial assets, liabilities, and cash flows. It typically covers tasks such as overseeing bank accounts, handling investments, managing liquidity, and executing foreign exchange transactions. By clearly outlining these duties, the clause ensures that financial operations are conducted efficiently and in compliance with internal policies, thereby reducing financial risk and promoting sound fiscal management.
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Treasury Functions. (i) Enter into any derivative or hedge contracts which extend past September 30, 2004; (ii) purchase any additional corporate or municipal bonds, (iii) purchase or acquire brokered certificates of deposit with maturity dates greater than three years, or (iv) purchase or acquire mortgage backed securities or collateralized mortgage obligations with weighted average maturity dates greater than five years.
Treasury Functions. (a) The Manager shall be authorised to operate the Company’s and each Subsidiary’s bank accounts in accordance with such principles therefore as the Board from time to time shall approve. The Manager shall, when specifically authorised to do so by the Board or the board of directors of a Subsidiary, open bank accounts in the Company’s or such Subsidiary’s name and enter into account agreements and all such other contracts or agreements as shall be required for this purpose.
(b) The Manager shall develop a cash management policy for the Group, which shall be presented to and approved by the Board, and continuously review the same. The Manager shall furthermore ensure that such policy is implemented.
(c) The Manager shall be authorised to collect all amounts due from third parties to the Customers on the Company’s and each Subsidiary’s behalf and shall be responsible for the establishment and implementation of efficient procedures for the purpose of collecting any overdue amounts.
(d) The Manager shall arrange for the Customers to settle their debts to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on the Customers’ behalf.
(e) The Manager shall settle all inter-company accounts between the Customers and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.
Treasury Functions. The Manager shall be authorised to operate the Company's bank accounts in accordance with such principles as the Company from time to time shall approve. The Manager shall, when specifically authorised to do so by the Company, open bank accounts in the Company's or such Subsidiary’s name and enter into account agreements and all such other contracts or agreements as shall be required for this purpose. The Manager shall develop a cash management policy for the Golar Power Group, which shall be presented to and approved by the Company, and continuously review the same. The Manager shall furthermore ensure that such policy is implemented in accordance with its terms. The Manager shall be authorised to collect all amounts due from third parties to the Company and shall be responsible for the establishment and implementation of efficient procedures for the purpose of collecting any overdue amounts. The Manager shall settle the Company's debts to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on the Company's behalf. The Manager shall settle all inter-company accounts between the Company and other entities in the Golar Power Group and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.
Treasury Functions a. The Manager shall be authorised to open and operate the Group's bank accounts in accordance with such principles therefore as the Board from time to time shall approve. The Manager shall, in this respect, be authorised to enter into account agreements and all such other contracts or agreements as shall be required by the banks and others for this purpose.
Treasury Functions. Cash management supervision and monitoring Property and casualty insurance renewal and administration Company shareholders, contacts, meetings, proxy, votes, etc.
Treasury Functions. ● Set-up and maintain bank accounts for the Corporation, as directed
Treasury Functions. All cash management and treasury functions for any Subsidiary not organized in a jurisdiction of the United States shall be maintained by the Borrowers, provided that Diomed Limited may maintain its existing line of credit with Barclays Bank.
Treasury Functions. (a) The Submanager shall be authorised to operate Seawell’s bank accounts in accordance with such principles as the Board from time to time shall approve. The Submanager shall, when specifically authorised to do so by the Board, open bank accounts in Seawell’s name and enter into account agreements and all such other contracts or agreements as shall be required by the banks and others for this purpose.
(b) The Submanager shall provide the Board with liquidity budgets and cash-flow reports pertaining to ▇▇▇▇▇▇▇ and the ▇▇▇▇▇▇▇ Group in such form and at such intervals as the Board shall require.
(c) The Submanager shall develop a cash management policy for the ▇▇▇▇▇▇▇ Group, which shall be presented to and approved by the Board, and continuously review the same. The Submanager shall furthermore ensure that such policy is implemented in accordance with its terms.
(d) The Submanager shall be authorised to collect all amounts due from third parties to ▇▇▇▇▇▇▇ on Seawell’s behalf and shall be responsible for the establishment and follow-up of efficient procedures for the purpose of collecting any overdue amounts.
(e) The Submanager shall arrange for ▇▇▇▇▇▇▇ to settle its debts to third parties as such fall due, always ensuring that amounts due as consideration for goods or services which do not meet required standards of quality or quantity are retained while pursuing a satisfactory solution to any dispute in relation thereto on Seawell’s behalf.
(f) The Submanager shall settle all inter-company accounts between ▇▇▇▇▇▇▇ and its Subsidiaries and affiliated companies in accordance with such agreements and other basis for payments as shall be in existence from time to time.
(g) The services to be provided by ▇▇▇▇▇▇▇ Limited hereunder shall, where relevant, also be extended to the Operating Subsidiaries.
Treasury Functions. Videotron's director and vice president of treasury communicate with the Corporation on an almost daily basis regarding financing matters. Videotron's chief financial officer is involved in this work for coordination and direction. Compensation for these services is based on an assumed 125 person days per year, at cost (without allowance for profit), and is estimated at US$85,000 per year.