In other cases, parties are required to adhere to warranties and representations of not only themselves but of the affiliates. key factor in affiliation with another business concern, whether Affiliate definition legal contract can mean several different things depending on the context it is used in.3 min read. This site uses a cookie. See also (list is generated automatically): Signing a business contract:An annotated checklistfor business people. La société Linde fait partie du groupe Linde, un conglomérat multinational qui compte plus de 120 filiales et emploie plus de 32 000 salariés. Another contract clause to help prevent lawsuits: Consultation requirement and definition, Contract signed by email: The parties replied “Agreed” to my email with the final draft attached, Software: Goods under UCC article 2, or services? Affiliate definition is - to bring or receive into close connection as a member or branch.
Contracting parties may include certain phrasing as a way to note companies they control. In the corporate world, affiliates can be: Any entity owning or controlling the debtor either directly or indirectly or is connected to any entity that is owning or controlling the debtor. Typically, the certain percentage of voting power is 5 to 10 percent or more of the securities for the election of directors of an entity. 08-40885 (5th Cir. Direct means to cause the direction of management and policies whether by contract or not. or if it is a Subsidiary of a company which itself is a Subsidiary of that other company. All information available on our site is available on an "AS-IS" basis.
By continuing to browse the site, you agree with us to our use of it. Share it with your network! 4 min read. control each other or that are controlled by a third party. Marketing legal review: A checklist of words and phrases to avoid, with some safer alternatives, Negotiating contractual limitations of liability: Do it risk by risk, not one-size-fits-all. This term has several meanings. UpCounsel accepts only the top 5 percent of lawyers to its site.
In the context of bankruptcy, an affiliate would be an entity owning or controlling the debtor or somehow connected to an entity that is owning or controlling the debtor. The employees or receipts of all affiliates are included when stating the firm's size.
In some cases, such as a license agreement, “affiliates” of parties are given the same obligations and rights as the parties themselves in the terms of the contract. Much of the time, being an affiliate means that you earn a certain commission according to the sales you make for the entity you are in an affiliate relationship with.
Sister companies.Any entity owning or controlling the debtor either directly or indirectly or is connected to any entity that is owning or controlling the debtor See Mills…, A portion of anything. Get the USLegal Last Will Combo Legacy Package and protect your family today. Affiliate confidential information – protected or not? The following phrase is based on U.S. securities laws (for example, in Rule 1-02(g) of SEC Regulation S-X): “the power to direct or cause the direction of the management and policies of the organization, directly or indirectly, whether through ownership of voting securities, by contract or credit arrangement, as trustee or executor, or otherwise.” Although the SEC's language may be sufficient for regulatory purposes but may become harder to define if litigation came to pass. In the context of:Bankruptcy, an entity owning or controlling the debtor, that is owned by the debtor, or that is owned by an entity owning or controlling the debtor. Hire the top business lawyers and save up to 60% on legal fees. or when one or more parties own a large share compared to other parties. No need to spend hours finding a lawyer, post a job and get custom quotes from experienced lawyers instantly. Note that even in this sense, this list of affiliates often does not include all the parties that are actually considered to be affiliates. Add or request a definition by filling out the short form below! In defining “affiliate,” too-loose a definition of “control” can get really expensive. The power to control is the Note that within the scope of the contract between the parties the contractual definition of the term Subsidiary will prevail over a statutory definition.
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