Private and Commercial Acts. The Company, a government owned or controlled corporation, is subject to civil and commercial law with respect to its obligations under this Agreement and the execution, delivery and performance of this Agreement constitute private and commercial acts rather than public or governmental acts and neither the Company nor any of its property has, in relation to the execution, delivery and performance of this Agreement, any immunity (sovereign or otherwise) from any legal action, suit or proceeding from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) under the laws and regulations of the Philippines.
Appears in 9 contracts
Samples: Market Participation Agreement, Market Participation Agreement, Market Participation Agreement
