Joint Committee definition
Examples of Joint Committee in a sentence
The sale may be initiated whenever the Joint Committee of Partners deems it strategically opportune to maximize the value of the SPV and the interests of the Joint Venture, including the possibility of transactions prior to RTB.
Whenever EDGM or any of its affiliates raises funds as defined in this Agreement (“Funds Raised by EDGM or Its Affiliates”), and such funds are made available to the Joint Venture Company or directly applied to project development, EDGM shall, without prior authorisation from the Joint Committee of Partners deliver 100% of such funds to the Joint Venture Company, to the extent they have not already been applied to current Joint Venture obligations or retained in accordance with this Agreement.
The Joint Venture Company shall distribute net profits to EDGM and BAIF within ten (10) Business Days of receipt of funds into the Joint Venture Company’s accounts, in accordance with the established ratio, without requiring further unanimity from the Joint Committee.
Each partner and its representatives must disclose in writing any actual or potential conflict of interest affecting any matter submitted to the Joint Committee before the relevant decision is made.
The Joint Committee shall be validly constituted only when all partners (or their respective representatives) are present or duly represented.