Developer’s Obligations 7.1.1 In consideration of the Rights hereby granted, the Developer shall pay to the Authority an annual fee of Rs. /- (Rupees only) (“Fee”) commencing from the 1st (first) anniversary of Appointed Date. The Fee is exclusive of GST and all other applicable taxes and shall be payable by the Developer at actual over and above the Fee. The Fee is payable to the Authority on or before 30 (thirty) days prior to the start of every year in advance as set out in Schedule 1 throughout the Agreement Period. During the Agreement Period the Fee shall be increased by 5% (five percent) every year over the previous year’s Fee on compounded basis.
7.1.2 The Developer should pay the Fee to the Authority notwithstanding the fact that, the development of Project Facilities is not completed within the specified period or Developer does not start the commercial operation of the Project. In other words, the Developer shall not be entitled to seek any reduction of Fee, claim, damages, compensation or any other consideration from the Authority on account of any reason.
7.1.3 Any delay in payment of the Fee shall attract an interest for the delayed period at the rate of SBI PLR plus 5% per annum on the outstanding amount, which shall be due from the date of such payment till the amount is realized by the Authority. In addition to the foregoing, any delay in payment of Fee beyond a period of 60 (sixty) days from the due date of such payment will be construed to be Material Breach under this Agreement.
HIRER’S OBLIGATIONS 10.1 The Hirer must comply with and shall procure that its officers, agents, employees and Delegates comply with:
(a) all applicable laws, statutes and regulations from time to time in force in relation to the hire and use of the Facilities and attendance at the Venue;
(b) any health and safety regulations, and security and other reasonable requirements that apply to the Venue and/or the Room and have been communicated to the Hirer;
(c) any instructions from any member of wallacespace staff in the event of a fire or other emergency or in respect of any other security or health and safety matters.
10.2 The Hirer shall not hold itself out to be connected to wallacespace, nor, without the prior written consent of wallacespace, use the wallacespace name or logos on any promotional or other materials.
10.3 The Hirer will not affix any poster, notice, placard, sign or other item to any part of the Venue or Room nor erect any display or stand unless wallacespace’s prior written agreement has been obtained.
10.4 The Hirer will be responsible for keeping proper order and for ensuring that all Delegates behave in an appropriate manner. This includes the treatment of wallacespace staff with respect, not causing damage to the Venue or Equipment, not introducing any malicious or technologically harmful material to wallacespace’s tech systems and not using the tech systems for any unlawful purpose. wallacespace reserves the right to exclude any Delegate from the Venue who does not behave in such a manner.
10.5 Externally purchased or produced food and drink may not be brought into the Venue for consumption. In particular, other than that supplied by wallacespace, wines, spirits or other beverages are not permitted to be brought into the Venue for consumption unless prior written consent has been given by wallacespace and wallacespace’s “corkage” charges from time to time shall be added to, and payable with, the Price.
10.6 The Hirer shall indemnify wallacespace from and against all claims, demands, actions, costs, expenses, damages, penalties or proceedings arising out of or connected with any loss or theft of or damage to any property of any person at the Venue, damage to the Venue or Facilities, or any death or injury of any person at the Venue as a result of any act or omission of the Hirer or its officers, employees, agents or Delegates or any other person on the Venue with the actual or implied authority of any of them.
10.7 The Hirer shall maintain in force, with a reputable insurance company, public liability and any other insurance at an amount not less than £2,000,000 to cover the liabilities that may arise under or in connection with the Agreement and shall produce to wallacespace on request both the insurance certificate giving details of cover and the receipt for the current year's premium in respect of each insurance.
The Supplier's Obligations The Supplier shall in writing, by the time and date specified by the Contracting Body following an invitation to tender pursuant to paragraph 2.1.3 above provide the Contracting Body with either:
Managers’ Obligations 4.1 The Managers undertake to use their best endeavours to provide the agreed Management Services as agents for and on behalf of the Owners in accordance with sound ship management practice and to protect and promote the interests of the Owners in all matters relating to the provision of services hereunder. Provided, however, that the Managers in the performance of their management responsibilities under this Agreement shall be entitled to have regard to their overall responsibility in relation to all vessels as may from time to time be entrusted to their management and in particular, but without prejudice to the generality of the foregoing, the Managers shall be entitled to allocate available supplies, manpower and services in such manner as in the prevailing circumstances the Managers in their absolute discretion consider to be fair and reasonable.
4.2 Where the Managers are providing Technical Management in accordance with sub-clause 3.2, they shall procure that the requirements of the law of the flag of the Vessel are satisfied and they shall in particular be deemed to be the “Company” as defined by the ISM Code, assuming the responsibility for the operation of the Vessel and taking over the duties and responsibilities imposed by the ISM Code when applicable.
Seller's Obligation The obligation of Sellers to sell and deliver the Assets to Buyer is subject to the satisfaction (or waiver by Sellers) as of the Closing of the following conditions:
(i) The representations and warranties of Buyer made in this Agreement shall be true and correct in all material respects as of the date hereof and (except as they may be affected by transactions contemplated hereby and except for representations and warranties that by their terms are made only as of an earlier date) immediately prior to the Closing, as though made immediately prior to the Closing; Buyer shall have performed or complied in all material respects with all obligations and covenants required by this Agreement to be performed or complied with by Buyer by the time of the Closing; and Buyer shall have delivered to the Company a certificate dated the Closing Date and signed by an executive officer of Buyer on behalf of Buyer confirming the foregoing.
(ii) No injunction or order of any court or administrative agency of competent jurisdiction shall be in effect that restrains or prohibits the purchase or sale of the Assets hereunder; provided that an injunction or court order that prohibits the transfer of ownership of, or leasehold interests in, one or more parcels of Real Estate or other Assets shall not be deemed to restrain or prohibit the purchase or sale of the Assets hereunder unless the failure of Buyer to acquire ownership of, or leasehold interests in, such parcels or other Assets has a Material Adverse Effect; provided that nothing in this Section 5(b)(ii) shall affect the condition set forth in Section 5(b)(iii); and provided also that an injunction or court order which prohibits the transfer of any or all of the Ridgedale and Rosedale stores shall not be considered to be all or a part of a Material Adverse Effect.
(iii) The waiting period under the HSR Act shall have expired or terminated.
