Compulsory Disposal Clause Samples

Compulsory Disposal. 5.1 In the event that an Initial Period Default shall have occurred and shall not have been Remedied or Cured, notwithstanding the elapse of the appropriate time period specified in clause 4 of this BEE Principles Schedule, RPM shall be entitled, within 120 days after the elapse of such time period, to deliver a written notice (“Compulsory Disposal Notice”) to Plateau, on receipt of which Plateau shall be obliged to sell, within a period of 120 days after the delivery of the Compulsory Disposal Notice to Plateau (“Compulsory Disposal Period”), all of its Shares and Claims (collectively “Disposal Interest”) to a Qualifying Person (“Qualified Purchaser”). 5.2 In the event that Plateau shall have failed to enter into an unconditional binding agreement in respect of the sale of the Disposal Interest to a Qualified Purchaser by not later than the expiry of the Compulsory Disposal Period, or, in the event that Plateau shall have entered into a conditional binding agreement in respect of the sale of the Disposal Interest to a Qualified Purchaser before the expiry of the Compulsory Disposal Period but the condition to such agreement (being, for these purposes, a condition only that appropriate regulatory consent shall have been obtained in respect of such sale) shall not have been fulfilled by not later than a further 120 days (after the expiry of the Compulsory Disposal Period) (“Implementation Period”), Plateau shall appoint in rem suam an independent merchant bank with appropriate expertise and experience in respect of the sale of interests similar to the Disposal Interest, as soon as reasonably possible in the circumstances, to sell the Disposal Interest to a Qualified Purchaser. In the event that Plateau shall fail, by not later than 5 Business Days after the expiry of the Implementation Period, to appoint such independent merchant bank on the basis set out herein, RPM shall be entitled, as the agent for and on behalf of Plateau, to appoint such independent merchant bank for the purposes specified herein. Without limiting the generality of any of the foregoing, it is specifically recorded that: 5.2.1 the terms of any appointment of an independent merchant bank to sell the Disposal Interest to a Qualified Purchaser must oblige the merchant bank to endeavour to sell the Disposal Interest at the best possible price in the circumstances; and 5.2.2 Plateau shall be responsible for and shall bear all of the costs of and incidental to the appointment of such indepen...
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Related to Compulsory Disposal

  • Compulsory Acquisition If the Developer fails to transfer or dedicate the Transfer Land or any land forming part of the Essential Infrastructure to the City in accordance with Schedule 3 of this document then the City may compulsorily acquire that land for the amount of

  • Compulsory Leave a. If the University President believes an employee is unable to perform assigned duties due to illness or injury, the President shall inform the employee in writing of the basis for the President's belief and may require the employee to obtain a medical examination by a doctor chosen and paid for by the University or by a doctor chosen and paid for by the employee who is acceptable to the University. Refusal of an employee to submit to a medical examination may result in suspension of the employee or other disciplinary action. The doctor shall submit an opinion to the President as to whether the employee (1) has a physical or mental condition which constitutes a health or other hazard to the employee, fellow employees, or others with whom the employee may come in contact or (2) has a physical or mental condition which prevents the employee from performing the duties required by the position of employment. A copy of the doctor's opinion shall be given to the employee. At the employee's discretion and expense, a second medical opinion may be obtained for consideration by the President. If two medical opinions are obtained which are in conflict, the two doctors or the relevant professional association or society shall be requested to identify a third doctor to supply an additional medical opinion for consideration by the President. The expense of the third doctor's opinion shall be shared equally by the employee and the University. b. If, after reviewing the medical opinions and other materials relevant to the employee's illness or injury, the President concludes that the employee (1) presents a health or other hazard to the employee, fellow employees, or others with whom the employee may come in contact or (2) is unable to perform the duties required by the position of employment, the President shall place the employee on compulsory leave. The President shall notify the employee in writing of the duration of the compulsory leave period. Any earned leave credits shall be used during the compulsory leave period. That portion of the compulsory leave, if any, which is not covered by earned leave credit shall be without pay. c. After expiration of one-half of the compulsory leave period, the employee may, upon prior notice to the University, and at the employee's expense, seek a medical opinion from a doctor acceptable to the University as to the ability of the employee to return to work. If after reviewing the opinion and other materials relevant to the employee's illness or injury the President concludes the employee is able to return to work, the employee may return to work at the beginning of the next academic term of the University. d. If, after reviewing the opinion of a doctor chosen and paid for by the University or by a doctor chosen and paid for by the employee who is acceptable to the University, and other materials relevant to the employee's illness or injury the President concludes an employee is unable to return to work at the end of the compulsory leave, the President may (1) extend the period of compulsory leave, or (2) request the employee's resignation or (3) if the University cannot reasonably accommodate the illness or injury, recommend termination in accordance with the procedures provided in Article 13. Termination under these circumstances shall not be considered to be a disciplinary action.

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  • Trash Disposal Tenant shall provide trash bins or other adequate garbage disposal facilities within the trash enclosure areas provided or permitted by Landlord outside the Leased Premises sufficient for the interim disposal of all of its trash, garbage and waste. All such trash, garbage and waste temporarily stored in such areas shall be stored in such a manner so that it is not visible from outside of such areas, and Tenant shall cause such trash, garbage and waste to be regularly removed from the Property. Tenant shall keep the Leased Premises and the Outside Areas in a clean, safe and neat condition free and clear of all of Tenant's trash, garbage, waste and/or boxes, pallets and containers containing same at all times.

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by: