INTEREST OF COMPANY Sample Clauses

INTEREST OF COMPANY. The parties acknowledge and agree that immediately following the completion of the Purchase, the Vendor will subscribe to newly issued shares in the Company in the amount of Fifty Six Million Japanese Yen ((Y)56,000,000) in return for One Hundred and Twelve Thousand (112,000) shares of the Company's Common Stock, each with a face value of Five Hundred Japanese Yen ((Y)500). This, in addition to the Twenty Thousand (20,000) shares retained by the Vendor will give them a total of One Hundred and Thirty Two Thousand (132,000) shares, or one-third of the Company.
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INTEREST OF COMPANY. The parties understand that the SPV will only have rights to the project and related service and other contracts to the extent the SPV is able to facilitate funding as outlined herein for a specific project. The SPV will use its best efforts and endeavor, subject to economic feasibility and the consent of the other parties necessary to consummate the funding structured by the SPV, including but not limited to the trustee, letter of credit or other credit enhancement provider, bonding company or rating agency to provide the Company with the following rights as it relates to a specific project funding: The Company will receive 40% of the project development contract amount upon closing of the funding arranged by the SPV for that project. Thereafter, 10% of the project contract amount shall be paid to the Company every 60 days. The Company will receive a management fee. This fee will be solely for the purpose of reimbursing the Company for its expertise in the overall management of the facility. it will not include operation, maintenance or any other expenses associated with the facility. During the first year of operation, the Company will receive a management fee as follows. The fee paid shall not exceed $100,000 per month for a standard 60OTPD plant as contemplated in the Town of Hempstead RFP. The monthly fee will be a minimum of $80,000 per month for a standard 600 TPD plant as contemplated in the Hempstead RFP. After the first year of operation, the Company will receive a management fee based on a percentage of actual operating costs and include an incentive for meeting or coming in under budget projections. The specific project management fee will be outlined and attached hereto as an addenda. The specific project management fee addenda will be negotiated prior to final commitment of the parties to the project.
Sample 1
INTEREST OF COMPANY. This Agreement shall inure to the benefit of, and be binding upon (i) the parties hereto, (ii) the successors and assigns of the parties hereto, and (iii) the person, firm, partnership, or corporation other than the Company that may be duly designated by the Company or future owner of the Company's lines of railroad and Industry Track as the one (1) sole operator designated to conduct freight operations over the Company's lines of railroad and the Industry Track.
Sample 1

Related to INTEREST OF COMPANY

  • INTEREST OF CONTRACTOR The Contractor covenants that he presently has no interest and shall not acquire any interest direct or indirect, which would conflict in any manner or degree with the performance of services required to be performed under this Agreement. The Contractor further covenants that in the performance of this Agreement no person having any such interest shall be employed.

  • Interest of Consultant Consultant, (and principals, associates and professional employees of consultant) covenants and represents that it does not now have any investment or interest in real property and shall not acquire any interest, direct or indirect, in the area covered by this Agreement or any other source of income, interest in real property or investment which would be affected in any manner or degree by the performance of Consultant’s services hereunder. Consultant further covenants and represents that in the performance of its duties hereunder no person having any such interest shall perform any services under this Agreement. Consultant is not a designated employee within the meaning of the Political Reform Act because Consultant:

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

  • Interest After Default To the extent permitted by Law, upon the occurrence of an Event of Default and until such time such Event of Default shall have been cured or waived, and at the discretion of the Administrative Agent or upon written demand by the Required Lenders to the Administrative Agent:

  • Cost of funds (a) If this Clause 14.4 applies, the rate of interest on each Lender’s share of that Loan for the relevant Interest Period shall be the rate per annum which is the sum of:

  • Interest of Contractor and Employees The Contractor covenants that he/she presently has no interest and shall not acquire interest, direct or indirect, in the study area or any parcels therein or any other interest which would conflict in any manner or degree with the performance of his services hereunder. The Contractor further covenants that in the performance of this Contract, no person having any such interest shall be employed.

  • INTEREST RATE NOT ASCERTAINABLE, ETC In the event that the Administrative Agent shall have determined (which determination shall be made in good faith and, absent manifest error, shall be final, conclusive and binding upon all parties) that on any date for determining LIBOR for any Interest Period, by reason of any changes arising after the date of this Agreement affecting the London interbank market, or the Administrative Agent's position in such market, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of LIBOR then, and in any such event, the Administrative Agent shall forthwith give notice (by telephone confirmed in writing) to Borrower and to the Lenders, of such determination and a summary of the basis for such determination. Until the Administrative Agent notifies Borrower that the circumstances giving rise to the suspension described herein no longer exist, the obligations of the Lenders to make or permit portions of the Loans to remain outstanding past the last day of the then current Interest Periods as Eurodollar Advances shall be suspended, and such affected Advances shall bear interest at the Base Rate (or at such other rate of interest per annum as Borrower and each of the Administrative Agent and the Lenders shall have agreed to in writing).

  • Interest on late payment Subject to clause 9.7, the Trader or the Distributor (as the case may be) must pay any Tax Invoice issued under this clause 9. If any part of a Tax Invoice that is properly due in accordance with this Agreement is not paid by the due date, Default Interest may be charged on the outstanding amount for the period that the Tax Invoice remains unpaid.

  • Interest Limitation It is the intention of the Company to conform strictly to all applicable usury laws and any subsequent revisions, repeals or judicial interpretations thereof. Accordingly, if the transactions contemplated hereby would be usurious under any applicable law then, in that event, notwithstanding anything to the contrary in the Securities or this Indenture, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law with respect to a Security shall under no circumstances exceed the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall have been paid in full, refunded to the Company), to the extent permitted by applicable law; and (ii) in the event that the maturity of any Security is accelerated or in the event of any redemption of such Security, then such consideration that constitutes interest under applicable law may never include more than the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall be paid in full, refunded to the Company), to the extent permitted by applicable law. All calculations made to compute the rate of interest with respect to a Security for the purpose of determining whether such rate exceeds the maximum amount allowed by applicable law shall be made, to the extent permitted by such applicable law, by allocating and spreading during the period of the full stated term of such Security all interest any time contracted for, taken, reserved, charged or received by such Holder or by the Trustee on behalf of any such Holder in connection therewith so that the amount or rate of interest charged for any and all periods of time during the term of the Security does not exceed the maximum amount or rate of interest allowed to be charged by law during the relevant period of time. Notwithstanding any of the foregoing, if at any time applicable laws shall be changed so as to permit a higher rate or amount of interest to be charged than that permitted prior to such change, then unless prohibited by law, references in this Indenture or any Security to “applicable law” when used in the context of determining the maximum interest or rate of interest that can be charged shall be deemed to refer to such applicable law as so amended to allow the greater amount or rate of interest. The right to accelerate maturity of any Security does not include the right to accelerate any interest which has not otherwise accrued to the date of such acceleration, provided, however, that the foregoing shall not prohibit the continuing accrual after acceleration of interest in accordance with the terms of the Indenture and such Security.

  • Interest of Other Local Public Officials No member of the governing body of the locality and no other public official of such locality, who exercises any functions or responsibilities in connection with the planning and carrying out of the program, shall have any personal financial interest, direct or indirect, in this Contract, and the Contractor shall take appropriate steps to assure compliance.

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