Enron Sample Clauses
The "ENRON" clause typically refers to a contractual provision addressing the risks associated with counterparties that may become insolvent or are subject to bankruptcy proceedings, drawing its name from the high-profile collapse of Enron Corporation. In practice, this clause may set out specific rights or remedies for parties if a counterparty experiences financial distress, such as the ability to terminate the agreement, demand collateral, or accelerate obligations. Its core function is to protect parties from the financial fallout and uncertainty that can arise when a counterparty becomes insolvent, thereby allocating risk and ensuring contractual stability.
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Enron. Except as expressly provided in this Section 4, the Investors other than Enron (the "Rhythms Stockholders" for purposes of this Section 4.1) and the Company acknowledge and agree that neither Enron nor any of its Affiliates shall be expressly or implicitly restricted or proscribed pursuant to this Agreement, the relationship that exists between Enron and the Rhythms Stockholders, the relationship between Enron and the Company or otherwise, from engaging in any type of business activity or owning an interest in any type of business entity, regardless of whether such business activity is (or such business entity engages in businesses that are) in direct or indirect competition with the businesses or activities of the Company or of any of its Affiliates (as defined below) or any other person or entity. Without limiting the foregoing and except as otherwise expressly provided in this Section 4, the Rhythms Stockholders and the Company acknowledge and agree that (i) neither the Rhythms Stockholders, the Company or its Affiliates nor any other person or entity shall have any rights, by virtue of this Agreement, the relationship that exists between Enron and the Rhythms Stockholders, the relationship between Enron and the Company or otherwise, in any business venture or business opportunity of Enron or any of its Affiliates, and Enron and such Affiliates shall have no obligation to offer any interest in any such business venture or business opportunity to the Rhythms Stockholders, the Company, any Affiliate of the Company or any other person or entity, or otherwise account to the Rhythms Stockholders, the Company, any Affiliate of the Company or any other persons or entities in respect of any such business ventures, (ii) the activities of Enron or any of its Affiliates that are in direct or indirect competition with the activities of the Company or any of its Affiliates are hereby approved by the Rhythms Stockholders and the Company, and (iii) it shall be deemed not to be a breach of any fiduciary or other duties, if any and whether express or implied, that may be owed by Enron or its Affiliates to the Rhythms Stockholders or the Company for Enron to permit itself or one of its Affiliates to engage in a business opportunity in preference or to the exclusion of the Rhythms Stockholders, the Company, its Affiliates or any other person or entity.
Enron. (i) Enron shall cause Egret to cause Whitewing Management LLC to enter into the Third Amendment to the Whitewing Partnership Agreement.
(ii) Enron shall enter into Amendment No. 1 to the Remarketing Agreement and Amendment No. 1 to the Share Settlement Agreement.
(iii) Enron shall enter into the New Note Purchase Agreement.
(iv) Enron shall issue Enron Debt Securities to the Share Trust in exchange for the New Overfunding Amount to the extent that such amount is not invested in other Permitted Investments.
(v) Enron shall contribute the New Enron Demand Note to Peregrine.
(vi) Enron shall enter into the Enron Agreement.
(vii) Enron shall enter into Amendment No. 2 to the Tax Indemnification Agreement.
Enron. Committee on Finance: Committee held hearings to ex- amine the activities and transactions related to Enron’s tax returns, focusing on the Joint Committee on Taxation’s investigative report, receiving testi- mony from ▇▇▇▇▇ ▇. ▇▇▇▇▇,
Enron