ELPC definition
Examples of ELPC in a sentence
The ELPC will determine the eligibility for use of the pool and the amount of leave to be granted.
For all purposes of this Agreement, whenever Seller is authorized or required to transfer, dividend, assign, distribute or eliminate any asset, liability or capital of ELPC on or prior to the Closing Date, Seller shall accomplish all such matters in a manner which results in a pro forma balance sheet as of the Closing Date equivalent to that reflected in Section 4.7 of the Disclosure Schedule.
Except as provided by this Agreement or as required by law, through the Closing Date, there will be no change in any of the Employment Obligations or Enron's Plans, or in the administration thereof, that would have a material adverse effect on ELPC.
Except as may occur in the ordinary course of business, there shall be no change in the job title or position, base salary, work location or amount of eligible bonus for any of the employees of ELPC (the "Company Employees") from the date of this Agreement until the Closing.
To the knowledge of Seller, ELPC possesses all governmental licenses, permits, and certificates necessary for the current operation of ELPC's Business except to the extent such permits are held by ELPOLP, ETS or ENGL or that the failure to possess such governmental licenses, permits, and certificates would not have a Seller Material Adverse Effect.
Part I of Section 4.15 of the Disclosure sets forth a list of each individual employment, consulting, severance, indemnification, or similar agreement, arrangement or contract related to employment or personal services that exists between ELPC and any current or former officer, consultant, director, employee or other person or entity (all such agreements or contracts are hereinafter referred to as the "Employment Obligations"), for which ELPC has an existing or future obligation.
Section 4.1 of the Disclosure Schedule lists the officers and directors of ELPC.
Except as set forth in Section 4.2 of the Disclosure Schedule ELPC is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the nature of ELPC's Business makes such qualification necessary, except where the failure to be so qualified or in good standing would not have a Seller Material Adverse Effect.
Buyer has reviewed the Partnership Agreements and the Omnibus Agreement and understands the obligations of ELPC thereunder.
In the opinion of management of Seller, the historical Balance Sheet has been prepared in accordance with GAAP, except as stated therein, and fairly presents in all material respects the financial position of ELPC at September 30, 1996, and (ii) the pro forma Balance Sheet includes adjustments, as stated therein, contemplated by this Agreement.