NIB Registration Clause Samples
The NIB Registration clause requires a party to register with the National Insurance Board (NIB) and maintain compliance with its regulations. In practice, this means the party must obtain a valid NIB registration number and ensure that all contributions and filings are up to date, often providing proof of registration or compliance upon request. This clause ensures that all parties involved are meeting statutory obligations related to social security or insurance, thereby reducing legal and financial risks for the contracting parties.
NIB Registration. The Seller and Buyer shall take such steps necessary to register the Buyer as holder of the Existing PDCs in its register of NIBs. The Parties expressly grant power to the manager of the NIB issuer, acting individually and with full power of substitution, to amend and execute the above register for and on behalf of the NIB issuer and the Buyer and to do all such acts and things as may be ancillary thereto and/or necessary and/or useful and/or desirable in the sole opinion of such manager in connection with or for the purpose of giving full effect to this Agreement. Upon amendment and execution of the above register, the manager of the NIB issuer shall cause to be delivered to Buyer via email (to be followed by a hard copy via courier) a copy of such amended and executed register and confirm to Buyer via email (to be followed by a hard copy via courier) that the Buyer has been registered as the holder of the NIBs in its register of NIBs and is entitled to all rights and privileges of such ownership, including the right to transfer or convey such NIBs without further consent of any person, except only as may be limited by this Agreement.
NIB Registration. The Seller and Buyer shall execute and deliver a NIBs Transfer Agreement in the form set forth in Exhibit L.The NIB issuer identified on Exhibit A-1 shall register the Buyer as holder of the Existing PDCs issued by it in its register of NIBs. The Parties expressly grant power to the manager of the NIB issuer, acting individually and with full power of substitution, to amend and execute the above register for and on behalf of the NIB issuer and the Buyer and to do all such acts and things as may be ancillary thereto and/or necessary and/or useful and/or desirable in the sole opinion of such manager in connection with or for the purpose of giving full effect to this Agreement. Upon amendment and execution of the above register, the manager of the NIB issuer shall cause to be delivered to Buyer via email (to be followed by a hard copy via courier) a copy of such amended and executed register and confirm to Buyer via email (to be followed by a hard copy via courier) that the Buyer has been registered as the holder of the NIBs in its register of NIBs and is entitled to all rights and privileges of such ownership, including the right to transfer or convey such NIBs without further consent of any person, except only as may be limited by this Agreement.