PARAGRAPH FIRST. Exhibits I and II are part of this agreement for all legal purposes, and their contents represent the express declaration of delivery, existence and check of goods listed therein, their state of preservation, receipt, and liability taken over by LESSEE for its custody, safety, preservation, maintenance, and other covenants.
PARAGRAPH FIRST. Upon termination, the lease term may be renewed for an equal period of 12 (twelve) years, provided that LESSEE represents its intention in writing at least 180 (one hundred and eighty) days before the end of term, according to the following:
PARAGRAPH FIRST. In the first 24 (twenty-four) effective months of the AGREEMENT, the monthly value owed by LESSEE to LESSOR shall be of BRL 180,000.00 (one hundred and eighty thousand reais), thereafter being readjusted on an annual basis, based on the variation of the IGP-M (General Price Index-Market) of Fundação Xxxxxxx Xxxxxx in the term of 12 (twelve) months prior to the readjustment determination. If the IGP-M variation of the last twelve months, this is, from the thirteenth to the twenty fourth month of the agreement, is over 15% (fifteen percent), LESSEE shall pay a one-time fifty percent of such variation on the twenty-fifth month. If the index is terminated and replaced, the substitute index shall be applied therefor.
PARAGRAPH FIRST. During the effectiveness of this agreement, LESSEE shall be solely liable for paying all municipal, state, and federal taxes, as well as any social charges, FGTS [Guarantee Fund for Length of Service], payroll, and any other charges that may be applicable to the subject matter of the rent, at the time or in the future, as described in Article First.
PARAGRAPH FIRST. If LESSEE, in its sole discretion, pays any amount due by LESSOR, it is expressly set forth that any values paid shall be set off by the values owed as monthly rent to LESSOR. Any values that may be advanced shall be updated by the General Price Index-Market of Fundação Xxxxxxx Xxxxxx (IGP-M) as of the date of actual set-off. PARAGRAPH SECOND. LESSOR undertakes to obtain from DESENBAHIA - AGÊNCIA DE FOMENTO DO ESTADO DA BAHIA S/A, successor of DESENBANCO - BANCO DE DESENVOLVIMENTO DO ESTADO DA BAHIA, its express consent to the terms of this Non-Residential Lease Agreement, as well as to obtain the formal commitment of not foreclosing the mortgages, or doing any other legal act that may cause a continuation resolution or operation impediment of the INDUSTRIAL PLANT leased hereunder from such agency.
PARAGRAPH FIRST. The values due to the CONTRACTED will be paid by the CONTRACTOR by means of credit in its bank account number 118.000-2 kept at the BANCO Bradesco S.A in the agency 026-4 being the deposit vouchers considered as receipts of the payments performed.
PARAGRAPH FIRST. It is of the exclusive responsibility of the CONTRACTED the consequences incurred from the loss, misplacement, robbery or printing error, packaging, personalization, magnetization, addressing or any other failures that in any instance may bring direct or indirect risks to the CONTRACTOR or to third parties, either by financial or moral losses, in the period that the services and the merchandise is under their guard and responsibility as well as faults detected upon the use of the checks by the clients of the CONTRACTOR or third parties provided that when the CONTRACTOR comes into the knowledge of the issue, he has adopted means and measures inherent to its situation and possible competence with the objective of avoiding the referred losses.
PARAGRAPH FIRST. If the interest rate herein set is eliminated or its use is prohibited, BNB is hereafter authorized to use other legal forms of compensation, it being established, hereafter, that if there is an official parameter replacing the interest rate, such shall prevail from the time the aforementioned rate is applied, notwithstanding the date of the decision, becomes legally impossible. PARAGRAPH SECOND – When the date stipulated for calculating the finance charges does not exist in the calculation month, the calculation shall be made on the next business day.
PARAGRAPH FIRST. The Default Charges shall be levied on the debit balance, from follow dates and under the following conditions:
