Overall Intent Sample Clauses
The "Overall Intent" clause defines the general purpose and guiding principles behind the agreement or contract. It typically outlines the shared objectives of the parties involved, clarifying the context and the spirit in which the contract should be interpreted. For example, it may state that both parties aim to collaborate in good faith to achieve a mutually beneficial outcome. This clause serves to provide interpretive guidance, ensuring that the contract is understood and enforced in line with its intended goals, and helps resolve ambiguities by referencing the overarching intent of the agreement.
Overall Intent. It is the intention of the Lenders that the Lenders shall share in any payments delivered by, and any amounts received in connection with the exercise of any remedies against, the Buyer ratably among the Lenders. In furtherance of the foregoing, each Lender covenants and agrees that the priorities of their respective liens and security interests in the Collateral shall be equal and the Collateral shall secure the Obligations ratably in accordance with the Lenders’ pro rata share thereof. Said priority shall exist and be enforceable irrespective of the time or order of attachment or perfection of any lien or security interest or the time or order of filing of any financing statements or other documents. The lien priority provisions of this Agreement are for the benefit of and shall be enforceable directly by the Lenders.
Overall Intent. It is the intention of the Banks that, following the Reference Date, they shall share in any Reallocable Payments received following the Reference Date pro rata to their respective proportions of the Combined Outstandings.
Overall Intent. To incorporate knowledge of the legal system and how they impact treatment of individuals in both civil and correctional health care settings; to identify key components necessary to transition from fellowship to independent practice
Overall Intent. It is the intention of the Lenders that, following the occurrence of any Debt Limit Excession or any Sharing Date, they shall share in any payments delivered by, or any amounts resulting from Set-Off against, the U.S. Borrower, the Canadian Borrower or the Australian Borrower to cure such Debt Limit Excession (until the Debt Limit Excession is cured or until a Sharing Date occurs), and after any Sharing Date in any Reallocable Payments received, pro rata to their respective proportions of the Combined Outstandings. It is the further intention of the Lenders that the pari passu sharing arrangements set forth in this Article 3 shall never require that any Lender purchase and continue to hold participations in an aggregate amount greater than such Lender's Aggregate Commitments under any applicable Credit Agreements.