Specific Performance Obligation Clause Samples

Specific Performance Obligation. The Onshore Facility Agreement also contains the Specific Performance Obligation.
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Specific Performance Obligation. The Offshore Facility Agreement contains a specific performance obligation imposed on the ▇▇▇ Family Holders. The ▇▇▇ Family Holders are required, at all times during the Facility Period, to remain as the single largest shareholder of ▇▇▇ ▇▇▇▇ (directly or indirectly) (“Specific Performance Obligation”).
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Specific Performance Obligation. Pursuant to the Facility Agreement, it shall be an event of default if China ▇▇▇▇▇ Asset Management Co., Ltd. (“China ▇▇▇▇▇”) ceases to directly or indirectly own at least 50% of the issued share capital of the Company in case written consent is not obtained from the bank. As at the date of this announcement, China ▇▇▇▇▇ indirectly owns approximately 63% of the issued share capital of the Company.
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Specific Performance Obligation. Pursuant to the Facility Agreement, application by the Company to use the Loan Facility is conditional upon the covenants/undertakings rendered by China ▇▇▇▇▇ (HK) Holdings Company Limited (“China ▇▇▇▇▇ (HK)”) who being a continuing guarantor of the Loan Facility, China ▇▇▇▇▇ (HK) shall (i) maintain the minimum consolidated tangible net worth (total equity less minority interests and intangible assets) (“Consolidated Tangible Net Worth”) be not less than HK$3 billion; and (ii) maintain its consolidated net gearing ratio (total secured and unsecured bank borrowings less cash versus Consolidated Tangible Net Worth) be not exceeding 1.5 times. Failing to comply with the undertakings will trigger an event of default.
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Specific Performance Obligation. The Loan Agreement contains a specific performance obligation on the Borrower to ensure that ▇▇. ▇▇▇▇ Ip ▇▇▇▇, the controlling shareholder of the Company, and his family members shall hold directly or indirectly not less than 40 per cent of the equity interest and voting shares of the Company and remain as the largest shareholder of the Company (the “Specific Performance Obligation”). A breach of the Specific Performance Obligation constitutes an event of default under the Loan Agreement. The Lender may at any time after the occurrence of an event of default declare the Facility to be terminated and the loan outstanding together with the accrued interest and all other amounts payable thereunder to be immediately due and payable.
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Specific Performance Obligation. As one of the conditions of the Facility, Oceanwide Holdings Co., Ltd.* (the “Controlling Shareholder”), the controlling shareholder of the Company, shall provide a guarantee (equivalent to the outstanding loan amount and interests) by entering into a guarantee agreement with the Bank as security for the Facility, the breach of this specific performance obligation and certain undertakings in the guarantee agreement will constitute an event of default under the Facility.
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Related to Specific Performance Obligation

  • Specific Performance, Etc The parties recognize that if any provision of this Agreement is violated by the Company, Indemnitee may be without an adequate remedy at law. Accordingly, in the event of any such violation, Indemnitee shall be entitled, if Indemnitee so elects, to institute Proceedings, either in law or at equity, to obtain damages, to enforce specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as Indemnitee may elect to pursue.

  • Specific Performance The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity.

  • Specific Performance; Injunctive Relief The parties hereto acknowledge that Parent will be irreparably harmed and that there will be no adequate remedy at law for a violation of any of the covenants or agreements of Stockholder set forth herein. Therefore, it is agreed that, in addition to any other remedies that may be available to Parent upon any such violation, Parent shall have the right to enforce such covenants and agreements by specific performance, injunctive relief or by any other means available to Parent at law or in equity.

  • Performance Obligations The Purchaser shall have performed in all respects all obligations required to be performed by it under this Agreement at or prior to the Closing.

  • Specific Performance; Remedies Each party acknowledges and agrees that the other party would be damaged irreparably if any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its provisions in any action or proceeding instituted in any court having jurisdiction over the parties and the matter, in addition to any other remedy to which they may be entitled, at law or in equity. Except as expressly provided for herein, the rights, obligations and remedies created by this Agreement are cumulative and in addition to any other rights, obligations or remedies otherwise available at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies.