CONSEQUENCES ON DETERMINATION OF LEASE/ THIS AGREEMENT Sample Clauses

CONSEQUENCES ON DETERMINATION OF LEASE/ THIS AGREEMENT. On the expiration of the Lease Period as defined in the Lease Deed or sooner determination of Lease the following consequences shall follow: Lessee shall remove themselves and all its belongings and employees from the Leased Premises and quietly surrender and deliver to the Lessor the peaceful and vacant possession of the Leased Premises in good condition, normal wear and tear excepted, simultaneously against the refund (by way of a demand draft or banker's cheque) of the Security Deposit amount by the Lessor. PROVIDED THAT if the Lessor fails to refund the security deposit or any part thereof as provided above, then without prejudice to the other rights and remedies in law, the Lessee will be entitled to retain possession of the Leased Premises without paying any Rent, Maintenance Charges and or any other charges payable under the Lease Deed and be entitled to license/ Lease the Leased Premises at the risk and costs of the Lessor till such time as the entire Security Deposit is repaid by the Lessor and realized by the Lessee. Lessor shall also be liable to pay to the Lessee as and by way of damages, interest at the rate of 18% (eighteen percent) per annum on the Security Deposit or any part, for the period commencing from the day the Lessor were liable to refund the Security Deposit or any part thereof to the Lessee till the Security Deposit is refunded to and realized by the Lessee. SIGNED SEALED AND DELIVERED BY THE PARTIES: FOR SYNTEL LTD. FOR ARIHANT FOUNDATIONS & HOUSING LTD. Signature: /s/ Xxxxx Xxxxx 1. Signature: /s/ Xxxxxxxx Xxxxxxxx --------------- --------------------- NAME: XXXXX XXXXX NAME: XXXXXXXX XXXXXXXX HEAD LEGAL MANAGING DIRECTOR Date: 23/09/2004 Date: 23/09/2004 IN THE PRESENCE OF: IN THE PRESENCE OF: 1. Mr. Navranjan Khanna 1. Mr. /s/ [ILLEGIBLE] ----------------- 2. Mr. Xxxxxxxx Xxxxxxxxxx 2. Mr. /s/ [ILLEGIBLE] -----------------
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Related to CONSEQUENCES ON DETERMINATION OF LEASE/ THIS AGREEMENT

  • Severability of this Agreement If any provision of this Agreement shall be judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

  • Continuing Nature of this Agreement; Severability Subject to Section 6.04, this Agreement shall continue to be effective until the Discharge of Senior Obligations shall have occurred. This is a continuing agreement of Lien subordination, and the Senior Secured Parties may continue, at any time and without notice to the Second Priority Representatives or any Second Priority Debt Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Subsidiary constituting Senior Obligations in reliance hereon. The terms of this Agreement shall survive and continue in full force and effect in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

  • Waiver of Breach and Severability The waiver by either party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any subsequent breach by either party. In the event any provision of this Agreement is found to be invalid or unenforceable, it may be severed from the Agreement and the remaining provisions of the Agreement shall continue to be binding and effective.

  • ASSIGNMENT TERMINATES THIS AGREEMENT; AMENDMENTS OF THIS AGREEMENT This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment or in the event that the Investment Management Agreement between the Manager and the Fund shall have terminated for any reason; and this Agreement shall not be amended unless such amendment is approved at a meeting by the affirmative vote of a majority of the outstanding shares of the Fund, and by the vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of the Trustees of the Fund who are not interested persons of the Fund or of the Manager or the Portfolio Manager.

  • Consequences of Determination; Remedies of Indemnitee The Company shall be bound by and shall have no right to challenge a Favorable Determination. If an Adverse Determination is made, or if for any other reason the Company does not make timely indemnification payments or advances of Expenses, Indemnitee shall have the right to commence a Proceeding before a court of competent jurisdiction to challenge such Adverse Determination and/or to require the Company to make such payments or advances (and the Company shall have the right to defend its position in such Proceeding and to appeal any adverse judgment in such Proceeding). Indemnitee shall be entitled to be indemnified for all Expenses incurred in connection with such a Proceeding and to have such Expenses advanced by the Company in accordance with Section 8 of this Agreement. If Indemnitee fails to challenge an Adverse Determination within fifteen (15) business days, or if Indemnitee challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment of a court of competent jurisdiction from which no appeal can be taken, then, to the extent and only to the extent required by such Adverse Determination or final judgment, the Company shall not be obligated to indemnify or advance Expenses to Indemnitee under this Agreement.

  • WAIVER AND SEVERABILITY OF TERMS At any time, should Xxxxx Xxxxx fail to exercise or enforce any right or provision of the TOS, such failure shall not constitute a waiver of such right or provision. If any provision of this TOS is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TOS remain in full force and effect.

  • References to this Agreement Numbered or lettered articles, sections and subsections herein contained refer to articles, sections and subsections of this Agreement unless otherwise expressly stated.

  • EVENTS CONSTITUTING MATERIAL BREACH OF AGREEMENT The Applicant shall be in Material Breach of this Agreement if it commits one or more of the following acts or omissions (each a “Material Breach”):

  • Modifications to this Agreement This Agreement constitutes the entire understanding of the parties on the subjects covered. Employee expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company.

  • Amendments of this Agreement This Agreement may be amended by the parties only if such amendment is specifically approved by (i) the Board of Directors of the Fund, to the extent permitted by the Investment Company Act, or by the vote of a majority of the outstanding shares of the Portfolio, and (ii) by the vote of a majority of those directors of the Fund who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval.

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