8) It will provide such management accounts and explanations of its activities to the LOC Officers that they may reasonably require together with copies of all minutes of Board meetings; 9) If agreed by members of the LOC at an Annual General Meeting or at an Extraordinary General meeting or retrospectively at such meetings to provide an interest free loan to the LOC Company to provide initial working capital, the Directors of the LOC Company will use their best endeavours to ensure that the loan is repaid as soon as is possible; 10) Its Directors will only conduct such activities in the best interests of all Local Contractors at the behest of the LOC that the LOC cannot conduct itself and the Directors will ensure that its costs of operation are kept to the absolute minimum to trade both legally and appropriately in the best interests of all Local Contractors. 11) This memorandum of Understanding will be available at all Board Meetings and will be a standard agenda point at all Board Meetings for the Chair of the meeting to refer all Directors attending to note the terms. Signed this Day of …. ………..2017 For and on Behalf of LOC by: ………………………………. ……………………………………………………………….Chair……………………………………………….. ………………………………………………………………..Secretary…………………………………….…… For and on Behalf of Primary Eyecare (…………………………..) Limited by: Director ……………………………………………………………. ………………………………………………… Director ……………………………………………………………. …………………………………………………
8) It will provide such management accounts and explanations of its activities to the LOC Officers that they may reasonably require together with copies of all minutes of Board meetings; 9) If agreed by members of the LOC at an Annual General Meeting or at an Extraordinary General meeting or retrospectively at such meetings to provide an interest free loan to the LOC Company to provide initial working capital, the Directors of the LOC Company will use their best endeavours to ensure that the loan is repaid as soon as is possible; 10) Its Directors will only conduct such activities in the best interests of all Local Contractors at the behest of the LOC that the LOC cannot conduct itself and the Directors will ensure that its costs of operation are kept to the absolute minimum to trade both legally and appropriately in the best interests of all Local Contractors. 11) This memorandum of Understanding will be available at all Board Meetings and will be a standard agenda point at all Board Meetings for the Chair of the meeting to refer all Directors attending to note the terms. Signed this …. Day of ………..2017 For and on Behalf of ………………………………. LOC by: ……………………………………………………………….Chair……………………………………………….. ………………………………………………………………..Secretary…………………………………….…… For and on Behalf of Primary Eyecare (…………………………..) Limited by: ……………………………………………………………. Director ………………………………………………… ……………………………………………………………. Director …………………………………………………