Development Corporation. (1) Sub-clause 5(1) of the principal agreement is amended by deleting the word "five" and substituting the word "eight" and by deleting the word "two" where second occurring and substituting the word "five" and further by deleting all words appearing after the words "part-time members".
Development Corporation. Clause 5 of the principal agreement is deleted and the following clause substituted:
Development Corporation hereinafter called the “Contractor” The Owner and the Contractor agree as follows:
Development Corporation. The Corporation is and will continue to be both a “development corporation” as defined in section 363 of the Québec Tax Act, and a “qualified corporation” as defined in section 726.4.15 and 726.4.17.7 of the Québec Tax Act until such time as all of the Resource Expenses required to be renounced under this Agreement and the Subscription Agreements have been incurred and validly renounced pursuant to the Tax Act.
Development Corporation. N/A 7.3 Other Public Authorities N/A
Development Corporation. In connection with the Delta Apparel distribution and the Duck Head distribution, The Rainsford Development Corporation and Delta Woodside have agreed that this lease will terminate on the Delta Apparel and Duck Head distribution date in exchange for the payment by Delta Woodside to The Rainsford Development Corporation of $33,299.08. LEASE OF STORE IN EDGEFIELD, SOUTH CAROLINA Duck Head leases a building in Edgefield, South Carolina from Bettis C. Rainsford (a dxxxxxxr xxx xxxxxxicant stockholder of Delta Apparel, Duck Head and Delta Woodside) pursuant to an agreement involving rental payments equal to 3% of gross sales of the Edgefield store, plus 1% of gross sales of the store for utilities. Under this lease agreement, $9,944, $11,076 and $10,947 were paid to Mr. Rainsford during fixxxx 0000, 0998 and 1999, respectively. TRANSFERS OF LIFE INSURANCE POLICIES In February 1991, each of E. Erwin Maddrey, II (a direcxxx xxx xxxxxxxxxnt stockholder of Delta Apparel and Duck Head and President and Chief Executive Officer (from which officer positions Mr. Maddrey will resign in xxxxxxxxxx with the Delta Apparel distribution and the Duck Head distribution) and a director and significant stockholder of Delta Woodside) and Bettis C. Rainsford (a dirxxxxx xxx xxxxxxxcant stockholder of Delta Apparel, Duck Head and Delta Woodside) entered into a stock transfer restrictions and right of first refusal agreement (which this document refers to as a "First Refusal Agreement") with Delta Woodside. Pursuant to each First Refusal Agreement, Mr. Maddrey or Mr. Rainsfoxx, xx xxx case xxx xx, xxxxted Delta Woodside a specified right of first refusal with respect to any sale of that individual's Delta Woodside shares owned at death for five years after the individual's death. In connection with the First Refusal Agreements, life insurance policies were established on the lives of Mr. Maddrey and Mr. Rainsxxxx. Xxxxx the xxxx xxxxxxxxe policies on the life of each of them, $30 million is payable to Delta Woodside and $10 million is payable to the beneficiary or beneficiaries chosen by the individual. Nothing in either First Refusal Agreement restricts the freedom of Mr. Maddrey or Mr. Rainsxxxx xx xell xx xxxxxxxxx dispose of any or all of his Delta Woodside shares at any time prior to his death or prevents Delta Woodside from canceling the life insurance policies payable to it for $30 million on either Mr. Maddrey's or Mr. Rainxxxxx'x xxxx. A Fxxxx Xxxxxxx Xxreement terminates ...
Development Corporation. 5. (1) The Albury-Wodonga Development Corporation will be a corporation aggregate consisting of five members of whom three—the Chairman and the two Deputy Chairmen—will be executive members and two will be part-time members, appointed by the Governor-General, or the person who is at the date of the relevant appointment the person administering the Government of Australia, acting with the advice of the Federal Executive Council, and holding office—
Development Corporation. The parties covenant and agree that they will participate in the arbitration in good faith. In the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm. The provisions of this Section 20 (Arbitration) shall be enforceable in any court of competent jurisdiction. Each of the parties hereto irrevocably and unconditionally consents to the exclusive jurisdiction of the Arbitrator to resolve all disputes, claims or controversies arising out of or relating to this Agreement or any other agreement executed and delivered pursuant to this Agreement or the negotiation, validity or performance hereof and thereof or the transactions contemplated hereby. Each party further irrevocably waives any objection to proceeding before the Arbitrator based upon lack of personal jurisdiction or to the laying of venue and further irrevocably and unconditionally waives and agrees not to make a claim in any court that arbitration before the Arbitrator has been brought in an inconvenient forum. Each of the parties hereto hereby consents to service of process at the address to which notices are to be given. Each of the parties hereto agrees that its submission to jurisdiction and its consent to service of process are made for the express benefit of the other party hereto.]
Development Corporation. By: ---------------------------------- Name: -------------------------------- Title: ------------------------------- Date: -------------------------------- XXXXXX XXXXXXXX'X, INC. By: ---------------------------------- Name: -------------------------------- Title: ------------------------------- Date: --------------------------------
