Simultaneously with the Clause Samples
The "Simultaneously with the" clause establishes that a particular action or obligation must occur at the exact same time as another specified event or action. In practice, this might require that payment is made at the same moment as the delivery of goods, or that the execution of a document happens concurrently with the transfer of property. This clause ensures that neither party is required to perform their obligation before the other, thereby reducing the risk that one party fulfills their part of the agreement without immediate reciprocation.
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Simultaneously with the execution and delivery of this Agreement, ICI and you shall execute and deliver the ICI Agreement with Employee - Nondisclosure and other Covenants in the form attached hereto as Exhibit A ("Nondisclosure Agreement").
Simultaneously with the notifications provided for in subclauses 1 and 4 the employer shall submit a copy thereof to the employees in the enterprise or to their representatives where such representatives have been elected or appointed, who may then submit any comments they might have to the Regional Labour Market Council. A copy thereof shall be submitted to the employer.
Simultaneously with the execution and delivery of this First Amendment by Tenant, Tenant shall pay to Landlord $239,364.00, which shall be held by Landlord to secure Tenant's performance of its obligations under the Lease and this First Amendment pursuant to the terms and provisions of Section 6 of the Lease. Therefore, the Basic Lease Information is hereby amended by changing the amount of the Security Deposit (as defined in the Basic Lease Information) from "$553,675.00" to "793,039.00".
Simultaneously with the execution and delivery of this Agreement, the Borrower is executing and delivering to the Bank the 1998 Revolving Note, in substitution for the 1997 Revolving Note. The 1998 Revolving Note is a $5,000,000 promissory note of the Borrower, substantially in the form attached hereto as Exhibit 1. Wherever in any of the Financing Documents or in any certificate or opinion to be delivered in connection therewith, reference is made to a "Revolving Note", from and after the date hereof same will be deemed to refer to the 1998 Revolving Note.
Simultaneously with the execution and delivery of this Amendment, Borrower shall execute and deliver to Lender a promissory note dated as of the date hereof, in the principal amount of $10,000,000, in the form attached hereto as EXHIBIT A (the "Additional Note").
Simultaneously with the execution of this Sixth Amendment, the Borrower shall deliver to the Bank upon request, a Norwest Corporate Certificate of Authority, in form and content acceptable to the Bank; and,