ELECTION TO ASSUME AGREEMENT Sample Clauses

ELECTION TO ASSUME AGREEMENT. Even though this is an Agreement of real property in an airport, the parties contractually agree that this Agreement shall be construed to be a lease of commercial real property within the meaning of Section 365 of the Code. If Concessionaire becomes a Debtor under Chapter 7, 11 or 13 of the Code, and the Trustee or Concessionaire, as Debtor-In-Possession, elects to assume this Agreement for the purpose of assignment to a third party or otherwise, such election and assignment, if any, may only be made if all the terms and conditions of the applicable provisions of the Code are satisfied. If the Trustee or Concessionaire, as Debtor-In-Possession, fails to elect to assume or reject this Agreement by the 60th day after the entry of the Order for Relief in a case under Chapter 7, 11 and 13 of the Code, this Agreement shall thereafter be deemed rejected and terminated in accordance with Section 365 of the Code. The Trustee or Concessionaire, as Debtor-In-Possession, shall thereupon immediately surrender possession of the Premises to the City and the City shall have no further obligation to Concessionaire or Trustee hereunder. The acceptance of Rental by the City after the 60th day shall not be deemed a waiver of the City’s rights herein and under Section 365 of the Code, and the City’s right to be compensated for damages in such bankruptcy case shall survive.
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ELECTION TO ASSUME AGREEMENT. In the event that a petition for reorganization or adjustment of debt,- is filed concerning a Party under Chapter 11 of the Bankruptcy Code, or a proceeding is filed under Chapter 7 of the Bankruptcy Code and is converted to Chapter 11, then that Party must elect to assume this Agreement within 120 days from the filing or conversion of the petition under Chapter 11, or that Party's trustee or the debtor-in- possession shall be deemed to have rejected this Agreement.
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Related to ELECTION TO ASSUME AGREEMENT

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  • CERTIFICATION OF AGREEMENT In accordance with Division 4 of Part VIB of the Workplace Relations Act 1996, the Commission hereby certifies the attached written agreement in this matter. This agreement shall come into force from the date of certification, being 6 May 2003, shall operate in accordance with its terms and shall remain in force until 31 October 2005. Printed by authority of the Commonwealth Government Printer <Price code 40> GLADWYN PLUMBING PTY LTD & C E P U ENTERPRISE AGREEMENT 2002-2005 PLUMBING and MECHANICAL SERVICES ENTERPRISE AGREEMENT 2002 - 2005 Subject Matter Clause number Page number Annual Leave 27 17 Application of Site Agreements 20 13 Apprentices 16 10 Certification & Date of Operation 6 3 Commitments 3 2 Compensation of Tools of Trade 35 22 Consultative Mechanisms 8 3 Co-Invest 36 23 Dispute Settlement Procedure 12 5 Hours of Work 22 13 Industry Compliance Certificate 21 14 Industry Training 15 10 Inclement Weather 14 6 Insurances 29 18 Negotiation of a Subsequent Agreement 19 12 No extra claims 18 13 Occupational Health & Safety 13 5 Objectives 2 2 Parties & Persons Bound 4 2 Payment of Wages 26 15 Picnic Day 34 22 Plumbing Industry Calendar 32 22 Public Holidays 33 22 Protective Clothing 31 20 Relationship with Parent Award & VBIA 7 3 Right of Entry 11 4 Rostered Days Off 23 14 Scope & Application 5 3 Security of Employment 37 23 Shift Work 24 15 Shop Stewards 9 4 Superannuation 28 18 Termination of Employment & Redundancy 30 20 Title 1 2 Compensation for Tools of Trade 35 22 Union Representation 10 4 Wages & Allowances 25 17 Appendix A Wage Rates & Allowances Availability Appendix B Victorian Building Industry Site Agreement Appendix C Security of Employment Arrangements

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  • Notice of Agreement 1. The Institutions agree to provide a copy of this Agreement, with any amendments, to the Maryland Higher Education Commission.

  • Authorization of Agreement This Agreement has been duly authorized, executed and delivered by the Company.

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