Definitions and Effect Sample Clauses
The 'Definitions and Effect' clause serves to clearly define key terms used throughout the agreement and to specify the legal impact of those definitions on the interpretation of the contract. In practice, this clause lists important words or phrases and assigns them precise meanings, ensuring that all parties understand exactly what is meant by each term whenever it appears in the document. By establishing these definitions upfront, the clause helps prevent misunderstandings and disputes over ambiguous language, thereby promoting clarity and consistency in the contract's application.
Definitions and Effect. In case one or more of the following “Events of Default” shall have occurred and be continuing:
(i) default in the payment of any amount due under this Debenture;
(ii) default in the performance of any covenant or agreement contained in this Debenture (other than as set forth in clause (i) of this Section 5.1), the Purchase Agreement, the Warrants or the Registration Rights Agreement (as such term is defined in the Purchase Agreement) and such default is not fully cured within 15 days after the Holder delivers written notice to the Company of the occurrence thereof;
(iii) any material representation or warranty made by the Company in the Purchase Agreement shall prove to have been false or incorrect or breached in a material respect on the date as of which made and the Holder delivers written notice to the Company of the occurrence thereof;
(iv) the Company shall have admitted in writing its inability to pay its debts as they mature, or shall have made an assignment for the benefit of creditors, or shall have been adjudicated bankrupt;
(v) a trustee or receiver of the Company, or of any substantial part of the assets of the Company, shall have been appointed and, if appointed in a proceeding brought against the Company, the Company by any action or failure to act shall have indicated its approval of, consent to or acquiescence in such appointment, or, within 60 days after such appointment, such appointment shall not have been vacated, or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect;
(vi) proceedings involving the Company shall have been commenced by or against the Company under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government, or any state government, and, if such proceedings shall have been instituted against the Company, or the Company by any action or failure to act shall have indicated its approval of, consent to, or acquiescence therein, or an order shall have been entered approving the petition in such proceedings, and within 60 days after the entry thereof, such order shall not have been vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; or
(vii) one or more judgments for the payment of money in an aggregate amount in excess of $1,000,000 shall be rendered against the Company and the same shall remain undischarged for a period of 30 consecutive days during which ...
Definitions and Effect. The Landlord, as used in this Lease, means only the owner of the land and the building where the Leased Unit are located. The Tenant means all the people designated on the signature block of the reference page. This Lease shall bind and benefit the parties to the Lease and their heirs, personal representatives, successors, and permitted assigns. If any provision of this Lease is invalid, unlawful, or unenforceable to any extent, the rest of the Lease and the application of the provision to persons or circumstances other than those for which it is invalid, unlawful, or unenforceable are not affected.
Definitions and Effect