Material Law Sample Clauses
The Material Law clause defines which jurisdiction's laws will govern the interpretation and enforcement of the contract. In practice, this means that if a dispute arises, the parties agree that the legal rules and principles of the specified jurisdiction will apply, regardless of where the parties are located or where the contract is performed. This clause is essential for providing certainty and predictability, as it helps prevent confusion or conflict over which legal system should be used to resolve any issues that may arise under the agreement.
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Material Law. For the same reason, a public procurement contract within the framework of the Public Procurement Law cannot be used as a contract form of PPP. In particular, Article 14.11 of the Public Procurement Law requires the mandatory use of a standard contract of public procurement of goods, standard contract of public procurement of works and standard contract of public procurement of services. A contract is an agreement between two or more persons for the establishment, change or termination of civil rights and obligations (Article 378.1 of the Civil Code). Under the current legislation of Kazakhstan, a public private partnership contract does not have any particular distinctive features that allow it to be classified as an independent contractual obligation and distinguished from all other civil contracts. Based on the general qualification of contracts, it can be argued that, generally, a public private partnership contract is a mixed, consensual, bilateral (mutual) and compensated. In addition, a public private partnership contract is, in fact, an entrepreneurship (investment) agreement. In the legal literature5, an entrepreneurship contract is also defined not as an independent type of contract, but as a kind of civil contract with a set of the following specific features:
Material Law. Any Law whose violation by a Person reasonably could have a Material Adverse Effect with respect to such Person.
Material Law. For the same reason, a public procurement contract within the framework of the Public Procurement Law cannot be used as a contract form of PPP. In particular, Article 14.11 of the Public Procurement Law requires the mandatory use of a standard contract of public procurement of goods, standard contract of public procurement of works and standard contract of public procurement of services.
Material Law. The Founders shall cause the Company to comply with all applicable laws, rules, and regulations of all governmental authorities, the violation of which would reasonably be expected to have a material adverse effect upon the financial condition, operating results, assets, operations or business prospects of the Company or any Subsidiary.
Material Law any separately enforceable provision of a Law whose violation by a Borrower, any Guarantor, or any other Covered Person has or is reasonably likely to have a Material Adverse Effect on such Person or any Covered Person or any Guarantor, taken as a whole. Material License -- (i) as to any Covered Person, any license, permit or consent from a Governmental Authority or other Person and any registration and filing with a Governmental Authority or other Person which if not obtained, held or made by such Covered Person has or is reasonably likely to have a Material Adverse Effect, and (ii) as to any Person who is a party to this Agreement or any of the other Loan Documents, any license, permit or consent from a Governmental Authority or other Person and any registration or filing with a Governmental Authority or other Person that is necessary for the execution or performance by such party, or the validity or enforceability against such party, of this Agreement or such other Loan Document. Material Obligation -- as to Borrower, any Guarantor or any Covered Person, an Obligation of such Person which if not fully and timely paid or performed has or is reasonably likely to have a Material Adverse Effect. Material Proceeding -- any litigation, investigation or other proceeding by or before any Governmental Authority (i) which involves any of the Loan Documents or any of the transactions contemplated thereby, or involves a Covered Person or a Guarantor as a party or any property of Covered Person or a Guarantor, and has or is reasonably likely to have a Material Adverse Effect if adversely determined, (ii) in which there has been issued an injunction, writ, temporary restraining order or any other order of any nature which purports to restrain or enjoin the making of any Advance, the consummation of any other transaction contemplated by the Loan Documents, or the enforceability of any provision of any of the Loan Documents, (iii) which involves the actual or alleged breach or violation by a Covered Person of, or default by a Covered Person under, any Material Agreement, or (iv) which involves the actual or alleged violation by a Covered Person or any Guarantor of any Material Law. Maturity -- as to any Indebtedness, the time when it becomes payable in full, whether at a regularly scheduled time, because of acceleration or otherwise. Maximum Available Amount -- is defined in Section 3.1.2. Multi-employer Plan -- a Pension Benefit Plan which is a multi-employer plan as ...