GSE Clause Samples
The GSE (Government-Sponsored Enterprise) clause defines the rights, obligations, or special considerations applicable when a party to the agreement is a government-sponsored entity, such as Fannie Mae or Freddie Mac. This clause typically outlines how the contract terms may be affected by the unique regulatory status, reporting requirements, or operational procedures of a GSE. For example, it may specify compliance with federal guidelines or address the transferability of obligations. Its core function is to ensure that the agreement remains enforceable and practical when involving a GSE, addressing the unique risks and requirements associated with such entities.
GSE. Lender is hereby irrevocably authorized by Borrower and GSE to make advances under the GSE Loan to GSE pursuant to the provisions of this Agreement upon the written, oral or telephone request of any one or more of the Persons who is from time to time a Responsible Officer of GSE under the provisions of the most recent certificate of corporate resolutions and/or incumbency of GSE on file with Lender. Lender assumes no responsibility or liability for any errors, mistakes, and/or discrepancies in the oral, telephonic, written or other transmissions of any instructions, orders, requests and confirmations delivered by GSE to Lender in connection with the GSE Loan or any other transaction in connection with the provisions of this Agreement."
GSE. (a) The GSE does not perform its payment obligations under the Conto Energia Concession within 110 days from the relevant due date and such non payment is not remedied within 20 days of the expiry of the term referred above and has a Material Adverse Effect.
(b) The GSE ceases to be fully owned by the Italian state, unless it is transferred to a governmental body or other authority which is deemed equivalent to the Italian state.
(c) The Italian state ceases to guarantee payment of the feed-in tariff under the Conto Energia Decree by the GSE, unless the relevant payment obligation is guaranteed by a governmental or other authority which is deemed equivalent to the Italian state.
(d) A change in law occurs whereby the feed-in tariff under the Conto Energia Decree is no longer payable by the GSE and such change in law is applicable to the Borrower in relation to the Project, unless the relevant payment obligation is assumed by a governmental body or other authority which is deemed equivalent to the GSE. For the purposes of this Subclause 15.27, change in law means the enactment, promulgation, execution or ratification of or any change in or amendment to any law, rule or regulation (or in the application or official interpretation of any law, rule or regulation) that occurs after the date of this Agreement.
GSE. Coordinator - An employee whose job includes controlling inventory, the work order system, and running appropriate reports. The