Operational Contracts definition

Operational Contracts means agreements pertaining to the conduct of the business operations of the Company and its Subsidiaries, including (without limitation) leases, operating agreements, concession agreements, franchise agreements, licensing agreements, joint venture agreements, noncompetition agreements and other agreements or contractual arrangements.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Operational Contracts means certain day-to-day operational and trading contracts of African Bank specified in the Sale of Business Agreement, as determined by the Curator, including the Insurance Funding Facility and the Hedging Arrangements (but specifically excluding any other hedging or facility agreements);

Operational Contracts means all contracts and agreements that are reasonably necessary to own, explore, develop, operate, maintain or use the Oil and Gas Interests of a Person in the manner in which they are currently being owned, explored, developed, operated, maintained or used, and in accordance with the prudent practices of the oil and gas industry.

Examples of Operational Contracts in a sentence

• If Seller enters into any Operational Contracts with respect to the Property pursuant to the foregoing, Seller shall comply with all of its obligations under such Operational Contracts and Seller such cause such Operational Contracts to be terminated by the Closing Date unless Purchaser elects otherwise in its sole discretion (in which case, any such Operational Contracts shall be assigned to and assumed by Purchaser at Closing to the extent assignable).

• Except for the prorations expressly provided for in this Article 10 or otherwise provided under this Agreement, Seller shall be solely responsible for all expenses relating to the Property as of the Closing Date or otherwise relating to Seller’s period of ownership of the Property (including, but not limited to, utility charges and costs under any Operational Contracts).

• All Tangible Personal Property -------------------------- (other than those covered by the Operational Contracts) and all Supply Inventories have been fully paid for and are owned by Seller free and clear of all liens and encumbrances.

• Within three (3) business days after the Escrow Opening Date, Seller shall attach a detailed and itemized list of all items requested and delivered pursuant to the heading "Operational Contracts" of the Due Diligence Request List (collectively, the "Contracts") as EXHIBIT C, which is incorporated herein by reference.

• Subject to Section 4 hereof, Seller shall, at Closing, ---------- assign and transfer to Buyer, and Buyer shall assume and agree to perform all Operational Contracts pursuant to the Assignment and Assumption of Operational Contracts.

• The Sellers have provided true, complete and accurate copies of all Operational Contracts to the Purchaser.

• To the extent that the terms and provisions of this Agreement are in conflict with or are inconsistent with the terms and provisions of the Assignment and Assumption of Leases and Security Deposits, Assignment and Assumption of Operational Contracts, Assignment and Assumption of Intangible Personal Property, the terms and provisions of this Agreement shall control, notwithstanding that the previously enumerated closing documents were executed and delivered after the Effective Date of this Agreement.

• To the extent any Operational Contract exists which is not included on the Schedule of Operational Contracts, Buyer shall have no obligation to assume the liability for such omitted Operational Contract.

• The Company will not incur any liabilities due to its breach of or failure to perform under any Operational Contract during the Transition Period; the Operational Contracts do not include any exclusive, non-competition or restriction provisions limiting or preventing the Company in any aspects from conducting its business as presently conducted or entering into agreement with any third party on terms and conditions desired by the Company.

More Definitions of Operational Contracts

Operational Contracts means all right, title and interest of Seller, if any, in and to any and all contracts, purchase orders, service contracts, equipment leases, maintenance contracts, utility contracts, billboard contracts or billboard leases, travel agency agreements, telephone service agreements, and other agreements pertaining to the ownership, operation and maintenance of the Real Property, the Improvements and/or the Tangible Personal Property, excluding the Marriott License Agreement, the Radisson License Agreement (Atlanta), the Radisson License Agreement (Orlando), the Hotel Management Agreement and the Office Management Agreement. A list of the Operational Contracts in existence as of the Effective Date is set forth in Exhibit D.

Operational Contracts all Contracts under which the Designated Target Companies have acquired ownership of, or the right to use and exploit, any Towers, and/or Tower Sites (including any Easements appurtenant thereto). “Order” – any award, decision, injunction, judgment, writ, decree, order, ruling, subpoena, or verdict entered, issued, made, or rendered by any court, administrative agency, or other Governmental Authority or arbitral tribunal.

Operational Contracts means those agreements and contracts to which the Corporation is a party relating to the ongoing infrastructure, operations and day-to-day management of the Corporation's business and which are necessary to operate the Corporation's business as presently operated, all of which are listed and described in Schedule 1.1(aaa);