Further commitments. The Governors and Premiers of the Great Lakes States and Provinces further commit to coordinate the implementation and monitoring of the Charter and this Annex; seek and implement, where necessary, legislation establishing programs to manage and regulate new or increased withdrawals of Waters of the Great Lakes Basin; conduct a planning process for protecting, conserving, restoring, and improving the Waters and Water-Dependent Natural Resources of the Great Lakes Basin; and identify and implement effective mechanisms for decision making and dispute resolution. The Governors and Premiers also commit to develop guidelines regarding the implementation of mutually agreed upon measures to promote the efficient use and conservation of the Waters of the Great Lakes Basin within their jurisdictions and develop a mechanism by which individual and cumulative impacts of water withdrawals will be assessed. Further, the Governors and Premiers commit to improve the sources and applications of scientific information regarding the Waters of the Great Lakes Basin and the impacts of the withdrawals from various locations and water sources on the ecosystem, and better understand the role of groundwater in the Great Lakes Basin by coordinating their data gathering and analysis efforts. Finally, the Governors and Premiers commit to develop in the new binding agreement(s) the water withdrawal rates at which regional evaluations are conducted and criteria to assist in further defining acceptable measures of Improvement to the Waters and Water-Dependent Natural Resources of the Great Lakes Basin.
Further commitments. Transworld shall have the right, but not the obligation, to fund after an Event of Default (as defined below) under this Commitment, amounts in excess of or amounts constituting part of the Commitment, from time to time, to pay accrued and unpaid interest, to complete construction or build-out of Wireless's wireless cable operations or to correct any defaults of Wireless in any of the Commitment Documents. Any such amounts so funded shall be deemed to be part of this Commitment, shall bear interest at the interest rate specified in paragraph 1(a) and, if a security interest in the property of Wireless has been granted to Transworld in accordance with the provisions of paragraph 3 above, shall also be secured by such assets. Promptly upon Transworld's request, Wireless hereby agrees to execute any additional Notes or other additional Commitment Documents (or modifications thereto) in favor of Transworld, which shall further evidence and secure the amounts funded in accordance with this paragraph. 5.
Further commitments. (a) The Borrower further undertakes not to participate in, or otherwise support an IPO-Event (e.g. by providing or preparing the relevant financial information or executing any documents useful or necessary for the IPO-Event), where the Borrower will not be the entity listed unless it is procured that the listed entity assumes all obligations under this Agreement on terms and conditions that do not change the economic terms underlying this Agreement.
Further commitments of the Agreement is hereby deleted in its entirety and replaced with the following:
Further commitments. The Parties further acknowledge that IDTEC, Xxxx Xxxxxx, First Capital Holdings, LLC, and First Capital Ventures, LLC, have voluntarily committed personnel and funds to Buyer to: (i) assist with ongoing operating expenses, (ii) pay for further engineering and development work on Buyer’s products and prototypes, (iii) protect, maintain, and develop the Buyer’s products and intellectual property, (iv) hire, pay and retain the proposed management team, third party consultants and advisors for the Buyer following the consummation of the sale contemplated in this Agreement, and (v) take such further actions as are necessary to more quickly expand the Buyer’s business subsequent to the sale of the Purchased Assets. The Parties acknowledge that the aggregate amount of the items noted in this Section 1.04 is equal to USD $1,416,076 as of February 20, 2020 and will be a greater amount by the date that the Agreement is either closed or terminated (the “Closing Date”). The Parties acknowledge and agree that these funds were advanced voluntarily and are not the obligation of the Buyer and the Buyer does not have any obligation to repay these funds in the event the transaction contemplated by the Agreement does not close. In the event the transaction does close, then on the Closing Date Buyer shall issue convertible promissory notes as described in Subsection 2.03 (f) below for the aggregate amounts incurred, paid or advanced. The Parties further acknowledge that an affiliate of IDTEC purchased TransBio Preferred Stock in a separate transaction. TransBio previously agreed that it would, if requested in writing after the funding from the purchase of the TransBio Preferred Stock, pay up to USD $200,000 to IDTEC or its affiliates for the development of the SOBR device. In connection with the closing of the sale of the TransBio Preferred Stock, IDTEC requested, and TransBio paid, USD $141,000 to IDTEC or its affiliates for the development of the SOBR device. The amount voluntarily advanced by IDTEC is USD $1,416,076 as of February 20, 2020.
Further commitments. Each of the City and TransLink agree to act reasonably and use commercially reasonable efforts to negotiate and enter into further agreements to effect and implement the City’s financial contributions to the Project, including the Master Municipal Agreement (which will include, as necessary, representations and warranties and further assurances from each of the Parties) or any purchase and sale agreements, rights of way agreements, temporary licences or any other similar agreements reasonably required in respect of the transfer, grants of rights or licensing of the City’s Acquisitions and any other rights that the City grants to TransLink.
Further commitments. Consistent with Section 16.2 of the New Participation Agreement and Section 15.2 of the Station Two Agreement, any LG&E Party electing to make an assignment and transfer to WKE Corp. or another Affiliate as contemplated in Subsection (a), above, agrees to simultaneously assign and transfer to WKE Corp. or such Affiliate (as applicable) all rights of the assigning and transferring Party under all Operative Documents and all other agreements that relate to the interests being assigned and transferred, and agrees to cause WKE Corp. or such Affiliate (as applicable) to assume in writing all duties and obligations of the assigning and transferring LG&E Party under such agreements that relate to the interests being assigned and transferred. Nothing contained in this Section 20 shall amend or otherwise modify the rights and obligations of the Parties under Article 16 of the New Participation Agreement or Article 15 of the Station Two Agreement.
Further commitments. The parties further acknowledge that Xxxx Xxxxxx, First Capital Holdings, LLC, First Capital Ventures, LLC, and Seller have paid and will pay expenses, commit personnel, and loan or advance cash to Buyer to: (i) assist with ongoing operating expenses, (ii) pay for further engineering and development work on Buyer’s products and prototypes, (iii) protect, maintain, and develop the Buyer’s products and intellectual property, (iv) hire, pay and retain the proposed management team, third party consultants and advisors for the Buyer following the consummation of the sale contemplated in this Agreement, and (v) take such further actions as are necessary to more quickly expand the Buyer’s business subsequent to the sale of the Purchased Assets. The Parties acknowledge that the aggregate amount of the items noted are approximately $700,000 as of the Effective Date and are expected to increase by approximately $100,000 per month until the Closing Date, and on the Closing Date Buyer will issue convertible promissory notes as described in Subsection 2.03 (f) below for the aggregate amounts incurred, paid or advanced.
