Obligations and Covenants of the Parties Sample Clauses

Obligations and Covenants of the Parties. AVSB shall be responsible to undertake and perform the following under the Agreement: (a) to conduct the feasibility studies to determine the suitability of each of the Strategic Locations land/building and the Additional Locations land/building for the purpose of the JV Project and thereafter submit the respective suitability report to PESB; (b) shall be responsible to take charge of securing the relevant expertise, equipment and materials in relation to the JV Project; (c) shall be responsible to conduct the research and survey with industry players and/or industrial manufacturers in the State of Perak to determine their requirements and needs relating to the JV Project; (d) shall on best endeavour basis, ensure that the Strategic Locations land/building and the Additional Locations land/building so identified are developed and/or utilized into CLQs for the purpose of the JV Project; (e) shall cause Advancecon, based on the terms and conditions as stipulated in the Agreement, to issue the corporate guarantee in favour of PESB; and; (f) shall cause Advancecon, based on the terms and conditions as stipulated in the Agreement, to issue the corporate guarantee in favour of PKNPk (“Guarantee for Consent to Charge”) for the creation of third-party legal charge stated below; PESB shall be responsible to undertake and perform the following under the Agreement: (a) subject to the receipt of the suitability report from Advancecon, PESB shall secure from PKNPk the Strategic Locations land/building and the Additional Locations land/building within the timing as stated in the Agreement and cause PKNPk to execute the option to acquire agreement with the JV Company; (b) shall be responsible to procure PKNPk’s consent for the creation of third-party legal charge on the title of any of the Strategic Locations land/building or the Additional Locations land/building as security for any loan granted to the JV Company by a licensed financial institution strictly for financing the development of the JV Project subject to the procurement of the Guarantee for Consent to Charge is obtained from Advancecon; (c) where the land has not been registered in the name of the JV Company and where applicable, PESB shall cause PKNPk to submit the relevant application for renewal of the leasehold period for any of the Strategic Locations land/building or Additional Locations land/building; (d) it shall procure PKNPk to execute and submit to the relevant Authorities instruments and documents...

Obligations and Covenants of the Parties