SALE CLAUSE Sample Clauses

SALE CLAUSE. The Operator acknowledges and agrees that the Owner may desire to sell the property between the time this lease is made and entered into and the expiration date of this lease.
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SALE CLAUSE. Subject to compliance with the Act and applicable securities laws and regulations, the Issuer may sell, convey, assign or otherwise transfer (a) all or any part of the Loan corresponding to the series of this Note, or (b) any interest in the Loan corresponding to the series of this note, whether any such sale, conveyance or other transfer occurs directly or indirectly, voluntarily or involuntarily or by operation of law, without the prior written consent of the Holder.
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SALE CLAUSE. The Charterers have a right of first refusal if the Owners should decide to sell the Vessel during or at the end of the charter period. Should the Charterers not exercise their rights, the Owners shall be entitled to sell the Vessel, subject to Charterers’ prior approval, which shall not be unreasonably withheld. It is understood that the Charterers will not accept the sale of the Vessel to new owners whose business or shareholding shall be detrimental or contrary to the Charterers’ interests. Notwithstanding anything herein to the contrary, this right of first refusal shall not apply if the Owners sell or transfer the Vessel to another wholly owned subsidiary of Global Ship Lease, Inc. Further, any such sale or transfer to a wholly owned subsidiary of Global Ship Lease, Inc. shall not constitute a violation of the terms of this Charter Party. The Owners shall give the Charterers 60 days notice of any sale. The sale shall not delay the Vessel’s commercial operations/liner service in any way whatsoever. Buyers shall assume all the Owners’ responsibilities, obligations, title, risk, interest and/or rights under the Charter Party for the balance period from the time the Vessel is placed into their ownership. The Owners shall undertake all obligations and/or liabilities of owners under the Charter Party which are outstanding for settlement on or before change of ownership and perform same in accordance with the Charter Party. The Charterers and the Owners shall endeavour to settle outstanding matters as soon as possible after the change of ownership. Clause 56 Should the Vessel not be delivered by the date indicated in Box 20, the Charterers shall have the option of cancelling this Charter Party. The Charterers must declare their decision to cancel or take delivery of the Vessel within 48 hrs (Sundays, holidays excluded) after receiving notice that the Vessel will not be delivered by the date indicated in Box 20. Clause 57
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Related to SALE CLAUSE

  • Mortgage Clause 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.

  • Sunset Clause The provisions of this Section expires automatically on the expiration date of this Agreement.

  • ZIPPER CLAUSE 292. This Agreement sets forth the full and entire understanding of the parties regarding the matters herein. This Agreement may be modified, but only in writing, upon the mutual consent of the parties, except as otherwise provided herein.

  • MANAGEMENT CLAUSE Except as modified by this Agreement, the Employer retains all rights of management, which, in addition to all powers, duties, and rights established by constitutional provision or statute, will include but not limited to, the right to:

  • Xxxxxxx Clause 3.10 The Business Manager of the Union shall have the right to appoint a Xxxxxxx at any shop or job or on any crew where workers are employed under the terms of this Agreement. The Employer shall not make transfer of any Xxxxxxx from the shop or job or crew to which he was appointed to another shop or job or crew without first having notified the Business Manager of the Union of his/her desire to make such transfer and having secured Union's approval of the transfer proposed. Such Xxxxxxx shall see that this Agreement and Working and Safety Rules are observed and he shall be allowed sufficient time and be furnished necessary transportation to perform these duties during regular working hours. Under no circumstances shall the Employer dismiss, or otherwise discriminate against, an employee for making a complaint or giving evidence with respect to an alleged violation of any provision of the Agreement. The Xxxxxxx shall be included in all overtime at his/her headquarters whenever feasible. The Business Manager shall remove from his/her duties any Xxxxxxx at any time he considers the best interest of the Local Union will be served thereby and shall notify the Employer immediately of such removal. Among the duties of the Xxxxxxx are to:

  • Loss Payable Clause If the Declarations show a loss payee for certain listed insured personal property, the definition of "insured" is changed to include that loss payee with respect to that property. If we decide to cancel or not renew this policy, that loss payee will be notified in writing.

  • BREAK CLAUSE IF YOU HAVE OPTED FOR A FIXED TERM CONTRACT YOU WILL NOT HAVE THE DETAILS OF A BREAK CLAUSE NOTED IN YOUR PARTICULARS.

  • Penalty Clause a. Non-execution of supply order - For the reasons of failure to supply partially or completely within 30 days, if the Procurement cell has to buy the items from the RC 2 (L-2), RC 3 (L-3) or approved local vendor firm, the rate difference in cost will be recovered from XX xxxxxx i.e. L1 /Billing Agency as appointed by the Rate Contract Holder. The difference amount will be deducted from the forthcoming bills of the supplier pertaining to any product. Repeated failure (Three times) to supply in part or in full may amount to termination of rate contract for the product (s) and forfeiture of Performance Security. Reasons of failure to supply the material will be communicated by the firm to the Procurement cell timely.

  • DISCOUNT CHANGE CLAUSE The contractor may offer larger discount percentages for products, accessories, replacement parts and attachments at any time during the contract term.

  • NO STRIKE CLAUSE 6.1 The Union will not cause or permit its members to cause, nor will any member of the Union take part in, any strike either sit down or stay in, or any other kind of strike or any other kind of interference or any other stoppage, total or partial, of any of the Company’s operations, during the term of this Agreement. The Company will not cause, engage in or permit a lockout of any of its operational locations during the term of this Agreement.

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