(a) The commission is authorized and directed to provide all necessary and appropriate guidance, assistance and support to facilitate strategy development and coordinated implementation by the consortium and the partnership to accomplish their respective and mutual key objectives.

Terms Used In Tennessee Code 49-7-2904

  • Commission: means the Tennessee higher education commission. See Tennessee Code 49-7-2902
  • consortium: means an organization or association comprised of two (2) or more HBCU institutions, the purpose of which is to facilitate and implement the strategic plans and objectives developed by and between the consortium and the Tennessee HBCU technology partnership. See Tennessee Code 49-7-2902
  • partnership: means an organization or association formed pursuant to the terms of a memorandum of cooperation by and among the department, the commission, the institutions participating in the consortium and participating organizations from private industry, the purpose of which is to develop certain strategic plans and key objectives to leverage the collective resources of each partnership participant to achieve superior economic growth in this state. See Tennessee Code 49-7-2902
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) In furtherance of subsection (a), the commission may enter into one (1) or more memoranda of cooperation with the consortium and the partnership on terms deemed by the commission to be appropriate, mutually beneficial and in the best interest of the consortium and the partnership.
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