Treasury Policy Clause Samples

Treasury Policy. The JV Entities shall maintain a treasury policy which shall be endorsed by the Executive Board of each JV Entity which shall take into consideration the recommendations of the Finance Committee (as defined in the Shareholders’ Agreement), and such policy shall be reviewed bi-annually or when the circumstances in the Joint Venture changes materially. The policy shall: (a) set out the relevant authorities for all borrowing, banking and investing activities as well as policies for determining the capital and financing structures, cash and risk management requirements and any controls framework required by law or regulation; (b) confirm, in accordance with the Byelaws of the Downstream Co and the Sugar and Ethanol Co, the equity and dividend policy with specific gearing polices relating to all forms of external debt, rating processes, guarantees and the utilization of cash surpluses; (c) specify policies relating to bank mandates and facilities, counterparty evaluation, financial advisors and business continuity plans; (d) address risk exposure management and the use of derivatives; and (e) set out performance management procedures and the scope of treasury controls reviews.