FCCL definition
Examples of FCCL in a sentence
The Oil Sands Operator, its employees and sub-contractors are not agents or employees of the FCCL Oil Sands Partnership.
The FCCL Oil Sands Partnership Agreement will contain the Dispute Resolution Procedure.
For any fiscal period of the FCCL Partnership ending on or before December 31, 2017, the Purchaser shall not agree after Closing to: (i) allocate any allocable items of the FCCL Partnership to CPCRC for income tax purposes; or (ii) change any partnership Tax Returns, reporting or accounting practices if such allocation or change would result in an amount being allocated to CPCRC for any fiscal period of the FCCL Partnership after the Effective Time.
The FCCL Oil Sands Partnership will be formed for the purpose of developing and operating the Oil Sands Assets, or such other oil sands assets as the FCCL Oil Sands Partnership may acquire, and will be authorized to carry on such other activities as the Management Committee considers necessary or desirable in connection therewith.
EnCana (Canada) will be appointed as the Managing Partner and, subject to any decisions that are required to be made by the Management Committee and the other provisions of the FCCL Oil Sands Partnership Agreement, will have the exclusive authority to manage, conduct and operate the business and affairs of the FCCL Oil Sands Partnership.
Partnership Interests in the FCCL Oil Sands Partnership will be represented by Partnership Units.
FCCL may not otherwise assign its interest in this Agreement without the prior consent of TimberWest.
Except to the extent provided in such amendment, the Purchaser shall not amend the allocation provisions of the FCCL Partnership Agreement in a manner that would cause any allocable items of the FCCL Partnership to be allocated to CPCRC after the Effective Date.
The Oil Sands Operator will have no liability to the FCCL Oil Sands Partnership except to the extent caused by its gross negligence or wilful misconduct in the performance of the administrative and operating services and shall have no liability for any indirect or consequential damages.
Upon Closing, the Purchaser will acquire good and marketable title to the Partnership Interest, free and clear of all Encumbrances (other than as contained in the FCCL Partnership Agreement).