Commitments of the Corporation Clause Samples
The "Commitments of the Corporation" clause defines the obligations and promises that the corporation is required to fulfill under the agreement. This may include specific actions the corporation must take, such as delivering goods, providing services, or maintaining certain standards of performance. By clearly outlining these commitments, the clause ensures that all parties understand the corporation's responsibilities, thereby reducing ambiguity and helping to prevent disputes over what is expected.
Commitments of the Corporation. [1.1] The Corporation undertakes that no official of the CORPORATION, connected directly or indirectly with the contract, will demand, take a promise for or accept, directly or through intermediaries, any bribe, consideration, gift, reward, favour or any material or immaterial benefit or any other advantage from the BIDDER, either for themselves or for any person, organization or third party related to the contract in exchange for an advantage in the bidding process, bid evaluation, contracting or implementation process related to the contract.
[1.2] The CORPORATION will, during the pre-contract stage, treat all BIDDERS alike and will provide to all BIDDERS the same information and will not provide any such information to any particular BIDDER which could afford an advantage to that particular BIDDER in comparison to other BIDDERS.
[1.3] All the officials of the CORPORATION will report to the appropriate authority any attempted or completed breaches of the above commitments as well as any substantial suspicion of such a breach. [2] In case any such preceding misconduct on the part of such official(s) is reported by the BIDDER to the CORPORATION with full and verifiable facts and the same is prima facie found to be correct by the CORPORATION, necessary disciplinary proceedings, or any other action as deemed fit, including criminal proceedings may be initiated by the CORPORATION and such a person shall be debarred from further dealings related to the contract process. In such a case while an enquiry is being conducted by the CORPORATION the proceedings under the contract would not be stalled.
Commitments of the Corporation. The Corporation undertakes that no official of the CORPORATION, connected directly or indirectly with the contract, will demand, take a promise for or accept, directly or through intermediaries, any bribe, consideration, gift, reward, favour or any material or immaterial benefit or any other advantage from the TENDERER, either for themselves or for any person, organisation or third party related to the contract in exchange for an advantage in the bidding process, bid evaluation, contracting or implementation process related to the contract.
Commitments of the Corporation. The Corporation, in the carrying out of the powers and duties currently entrusted to it, undertakes to :
(1) ensure the update of information used for the keeping of the public register in which the names and addresses of licence holders and of the natural persons referred to in section 52 of the Building Act and the subclasses of such licences and any restriction under section 65.1 are entered ;
(2) notify the holder in writing as prescribed by sec- tion 5 of the Act respecting administrative justice (R.S.Q.,
c. J-3) and grant the holder at least 10 days to present observations before deciding on the suspension, cancel- lation or refusal to renew a plumbing-heating contrac- tor’s licence and deliver its ruling in writing, with rea- sons ;
(3) submit to the Minister, by 31 July of each year, a report on its activities for the past fiscal year, containing the following information : — the total number of valid building contractor’s li- cences ; — the apportionment of the contractor’s licences by administrative region ; — the number of examinations for qualification ad- ministered by region and component : administration, health and safety, technique ; — the number of exemptions from the examinations for qualification per component ; — the success rate of the examinations for each of the components ; — the number of applications for issuing, renewing or altering a licence ; — the number of suspensions, cancellations, refusals to renew and review a contractor’s licence ; — the number of records which, after a hearing, were subject to an alteration ; — other activities of qualification such as the drafting or revision of the examinations for qualification and preparation for examination sessions.
(4) provide the Minister with any information re- quested by him on the activities pertaining to this man- date.
Commitments of the Corporation. 7.1 The Company hereby undertakes as follows:
7.1.1 In the event that the execution and performance of this Agreement and the grant of the conversion option or the asset purchase option hereunder are subject to the consent, permission, waiver, authorization of any third party or the approval, license, waiver or registration or filing with any governmental agency, if required by law, the Company will use its best efforts to assist in the fulfillment of the foregoing conditions.
7.1.2 The Company will not assist or permit an Existing Shareholder to transfer or in any other way dispose of any Option Equity Interests or create any security interest or other third party rights in any Option Equity Interests without the prior written consent of the Sole Proprietor.
7.1.3 The Company will not transfer or in any other way dispose of any material Company assets (other than those occurring in the ordinary course of business) or create any security interests or other third party rights in any Company assets without the prior written consent of the Sole Proprietor.
7.1.4 The Company shall not do or permit any act or deed that may adversely affect Sole Proprietor's interests under this Agreement, including, without limitation, any acts and deeds subject to Section 6.1
7.2 Once the sole proprietor gives notice of exercise
7.2.1 It shall immediately cause the existing shareholders to convene a shareholders' meeting and pass a resolution of the shareholders' meeting and take all other necessary actions to consent to the transfer of all of the Transferred Assets by the Company to the Sole Proprietor and/or such other entity or person as it may designate at the transfer price;
7.2.2 It shall immediately sign the Asset Transfer Agreement with the Sole Proprietorship Company and/or other entities or persons designated by it, transfer all the Transferred Assets to the Sole Proprietorship Company and/or other entities or persons designated by it at the Transfer Price, and, in accordance with the requirements of the Sole Proprietorship Company and the provisions of the Laws and the Regulations, procure the Shareholders to provide the Sole Proprietorship Company with the necessary support (including the provision and signing of all the relevant legal documents, the fulfillment of all governmental approvals and (including the provision and signing of all relevant legal documents, fulfillment of all governmental approvals and registrations and assumption of all related obligation...