Operation of Law. Unless the Board of Education gives written notice of non- renewal of this contract to the Administrator at least 90 days before the contract's termination date, this contract will, without further action, be automatically renewed for an additional one-year period as provided by Public Act 183 of 1979, now being MCL 380.1229. The Superintendent shall advise the Board of Education of this obligation in January if the contract terminates at the end of that school year and the Board shall conduct the evaluation of the superintendent prior to March 30 of that year.
Operation of Law. Tenant shall not allow or permit any transfer of this Lease, or any interest hereunder, by operation of law, or convey, mortgage, pledge or encumber this Lease or any interest hereunder.
Operation of Law. In the event this Agreement, in whole or in part, is deemed to be contrary to local, state or federal law by counsel for SRHS or, in the opinion of counsel for SRHS, presents substantial legal risk to either party, the parties agree to use their best efforts to make changes to this Agreement to the minimum extent necessary to make this Agreement consistent with applicable law, trying to retain as closely as possible the original terms reflected in this Agreement. If this Agreement cannot be modified or amended in any way that is mutually agreeable to the parties and complies with applicable law after the parties have used their best efforts, then either party may terminate this Agreement.
Operation of Law. Nothing in this Agreement shall be interpreted or construed in a way that would prevent the City and/or the Department from complying with any duty or obligation placed upon the City and/or Department by operation of law.
Operation of Law. Neither this Lease, nor any interest herein, nor any estate created hereby, shall pass by operation of law under any state or federal insolvency or bankruptcy act to any trustee, receiver, assignee for the benefit of creditors or any other person whatsoever without the prior written consent of Landlord, which shall not be unreasonably withheld. Any purported transfer in violation of the provisions of this Paragraph 26.2 shall constitute a default under and breach of this Lease, regardless of Tenant’s compliance with the other provisions of this Lease; and Landlord at its option by written notice to Tenant may exercise all rights and remedies provided for in Article 25, including the termination of this Lease, effective on service of such notice without the necessity of further notice under Article 25.
Operation of Law. It is understood and agreed that neither this Lease, nor any interest herein or hereunder, nor any estate hereby created, in favor of Tenant, shall pass by operation of law under any State or Federal insolvency or bankruptcy act, or any similar law now or hereafter in effect, to any trustee, receiver, assignee for the benefit of creditors, or any other person whomsoever without the express written consent of Lessor first had and obtained therefore. Any purported transfer in violation of the provisions of this Section 24B shall constitute a breach of this Lease by Tenant.
Operation of Law. These Conditions shall be constructed and the rights of the parties hereto shall be regulated by the law of England.
Operation of Law. If you repair or replace a damaged or destroyed covered structure, then we will pay up to 10% of the applicable limit of insurance shown on the Declarations Pages for your actual incurred expenses for any increase in the cost to repair or replace a damaged or destroyed covered structure that results from the enforcement of any ordinance, law or code regulating the use, repair or construction of that structure. However, $2,500 is the most we will pay because of the enforcement of any ordinance, law or code in effect at the time of the loss or damage that requires compliance even in the absence of damage to the structure.
Operation of Law. Consummation by the Company of the acquisition of the Preferred Stock in exchange for the Notes shall not violate Section 160 of the General Corporation Law of the State of Delaware.
Operation of Law. With this exception, the Master Contract continues with the same entity after closing. As an example, the exception applies for changes in ownership as a result of a stock purchase, with no legal change in the party to the Government contract, and when that contracting party remains in control of the assets and is the party performing the contract. Although Government consent is not required, other FAR regulations and GSA supplemental policies require notice of ownership changes to the Government (See the below paragraph within this section). Furthermore, if the party to the Government contract desires to have a new stock owner substituted as a party to the contract, the requirements of a novation would then apply. There are also other circumstances, such as when assignment occurs as part of a bankruptcy restructuring, where outright Assignment of the government contract is effected by order of a court of competent jurisdiction, and authorized by federal law. In such cases, the Assignment does not violate the Anti-Assignment Act and the Novation submission requirements are adjusted to reflect the nature of the transfer. Novation in such cases still acts to formally recognize the successor-in-interest via modification to the contract, and depending on the operation of law, may be effected without the consent or agreement of the original contractor. All open Task Orders from the transferor shall also be assigned to the Master Contract’s transferee and to no other party.
