The Joint Venture definition

The Joint Venture. ( “JV” for short) shall mean “ (JV)” and

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The Joint Venture. ( “JV” for short) shall mean “

The Joint Venture the joint venture constituted as contemplated in clause 3.1; 1256/AAP/KJW 26/04/2004

Examples of The Joint Venture in a sentence

• The Joint Venture shall keep adequate books and records at its place of business, setting forth a true and accurate account of all business transactions arising out of and in connection with the conduct of the Joint Venture.

• The Joint Venture Expenditure Report is required for monitoring the joint venture’s/consortium/partnership compliance with the percentage contributions of the partners as tendered, where the joint venture/consortium/partnership has been awarded preference points in respect of its consolidated B-BBEE scorecard.

• The Joint Venture shall not have the right to the income or proceeds derived from such other business interests and, even if they are competitive with the Partnership business, such business interests shall not be deemed wrongful or improper.

• The Joint Venture will pay $200,000.00 to the Government in this regard.

• The Joint Venture shall not engage in any other business or activity without the written consent of the Joint Venturers.

More Definitions of The Joint Venture

The Joint Venture means the limited liability company as a Chinese-foreign Joint Venture established by the Parties in accordance with this Contract.

The Joint Venture shall adopt internationally used accrual basis and debit and credit accounting system in preparation of its accounts.

The Joint Venture. Company shall establish a supervisory board which shall consist of 3 persons, one appointed by each party to the Joint Venture and one from the staff and workers of the Joint Venture Company. The first Chairman of the supervisory hoard will he recommended by Party A.

The Joint Venture. Agreements contain provisions relating to the Transfer and Pledge of the Partner direct interests in the Joint Ventures.

The Joint Venture has the right to take disciplinary actions, concluding demerit, salary reduction, against any employee who violates the rules and regulations of the Joint Venture. Dismissal shall be used only in serious case and a report thereof shall be filed with local labor administrative authority.

The Joint Venture agreement shall contain the following principal terms: (a) a clause stating that Daneli shall be the Operator of the Joint Venture for as long as it retains a 50% or greater interest in the Property and will manage and carry out operations to explore and develop the property substantially in accordance with annual work programs, plans and budgets with respect to the Property that have been approved by a management committee consisting of one representative appointed by ATAC Resources Limited and one representative appointed by Daneli. Should the management committee be deadlocked, the Operator shall have the deciding vote; (b) a clause stating that the Operator may invoice each party, from time to time, for that party's proportionate share of exploration costs and mine costs incurred to the date of the invoice, or for an advance equal to the party's proportionate share of the estimated exploration costs and mine costs to be made pursuant to an adopted work program and budget. Each party shall pay its proportionate share of the actual or proposed exploration costs and mine costs to the Operator within 60 days after receipt of the invoice; (c) a clause stating that a participant to the joint venture shall be entitled upon notice to the Operator to request that the independent external auditor of the Operator provide that participant with its opinion that any invoice or statement delivered pursuant to the joint venture agreement has been prepared in accordance with the joint venture agreement; and (d) an aggressor clause with standard terms permitting the non- operator to propose an annual exploration budget of at least $300,000.

The Joint Venture shall complete the balance sheet, the loss or profit statement for the previous fiscal year within the lust three months of each fiscal year, and shall then submit such financial statements to the Board meeting for approval after having been examined and signed by the auditor.