Subsequent Obligations Clause Samples

Subsequent Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Lenders to make or incur subsequent Obligations is subject to the satisfaction, on the date of making or incurring each such Obligation, of the following conditions: (a) Receipt by the Agent of a Loan Request executed by the Company; (b) All of the representations, warranties and acknowledgments of the Company and each Subsidiary contained in this Agreement and the Related Documents shall be true and accurate as if made on such date, and each request by the Company for credit shall constitute an affirmation by the Company that such representations, warranties and acknowledgements are then true and accurate; (c) There shall not exist on such date any Default and no Default shall occur as the result of the making or incurring of such Obligation; (d) The aggregate principal amount of all Revolving Loans and Term Loans outstanding together with the amount of any Revolving Loan requested shall not exceed the Revolving Loan Commitment; and (e) Each of the Related Documents shall remain in full force and effect and continue to secure the Obligations.

Subsequent Obligations. Once this contract ends for whatever reason and at whatever time, the Parties have the obligation to satisfactorily perform their mutual legal obligations as well as those before third parties and those contracted hereunder. This includes to assume the responsibility for resulting losses and damages when the contract has been unilaterally ended and for reasons attributable to the CONTRACTOR, including legal indemnifications and compensations.

Subsequent Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Lender to make or incur subsequent Obligations is subject to the satisfaction, on the date of making or incurring each such Obligation, of the following conditions: (a) All of representations and warranties of the Company contained in this Agreement and the Related Documents shall be true and accurate in all Material respects as if made on such date, except to the extent that, such representations and warranties that specifically relate to an earlier date, in which case they shall be true and accurate in all Material respects as of such earlier date, and except that the representations and warranties contained in Section 3.2 shall be deemed to refer to the most recent financial statements furnished pursuant to Section 5.3; (b) There shall not exist on such date any Default and no Default shall occur as the result of the making or incurring of such Obligation; (c) The aggregate principal amount of all Revolving Loans outstanding together with the amount of any Revolving Loan requested shall not exceed the Revolving Loan Commitment; and (d) Each of the Related Documents shall remain in full force and effect.

Subsequent Obligations. Upon termination of this Contract on any grounds and at any moment, the Parties are obligated to comply in a satisfactory manner with their mutual legal obligations as well as with the obligations towards third parties and contracted herein. This shall include assuming responsibility for losses and damages arising after the Contract has been unilaterally terminated, and there will be indemnifications and compensations of a legal nature for reasons attributable to THE CONTRACTOR. 30.1. THE CONTRACTOR shall pay special attention to protection of the environment and to compliance with the applicable regulations in these matters. It shall likewise adopt and carry out specific contingency plans to attend to emergencies and repair damages, in the most efficient and timely manner. 30.2. THE CONTRACTOR shall inform THE A▇▇ semiannually on the environmental aspects of the Operations that are being conducted, on the application of preventive plans and contingency plans, and on the status of any steps taken before the competent environmental authorities in the matter of permits, authorizations, concessions or licenses, as the case may be. In those phases of the Contract involving activities whose performance is subject to the granting of environmental licenses, permits, concessions or authorizations, THE CONTRACTOR shall commence, before the competent authorities and within ninety (90) Calendar Days following the start of the relevant phase, all steps required for such purpose. Non-observance by THE CONTRACTOR of the period established in this subsection, or its lack of diligence in the relevant procedures, shall prevent it from invoking before THE A▇▇ delays in obtaining the licenses, permits, concessions or authorizations as grounds to request an extension or suspension of the obligations related to the relevant phase. 30.3. When any activity or Exploration Operation requires environmental permits, authorizations, concessions or licenses, THE CONTRACTOR shall abstain from carrying them out unless and until it obtains said permits, authorizations, concessions or licenses. 30.4. Without the approval of the environmental impact studies and the issuance of the corresponding environmental licenses or other requirements, THE CONTRACTOR may not commence Exploitation. 30.5. The non-performance of any of the obligations referred to in subsections 30.1, 30.2, 30.3 and 30.4 is grounds for termination due to breach of the terms of Clause 29 (subsection 29.2, sub-item (g)).

Subsequent Obligations. (1) Where a Termination Notice has been served in the circumstances set out in Article 16.2(3)(b) or Article 16.2

Subsequent Obligations. In the event this contract is terminated for any reason and at any time, the Parties must satisfactorily perform their legal obligations toward each other and with respect to third parties, as well as those assumed by virtue of this contract. This includes, for THE CONTRACTOR, assuming liability for any resulting losses and damages if the contract was unilaterally terminated, and when for reasons attributable to THE CONTRACTOR, there are any indemnifications and compensations of a legal nature.

Subsequent Obligations. The obligations of the Bank to make any Loan is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Company set forth in this Agreement and the Related Documents shall be true and correct on and as of the date of such Loan, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date. (b) At the time of and immediately after giving effect to the Loan, no Default or Event of Default shall have occurred and be continuing. (c) The Bank shall have received a Loan Request and such other documentation and assurances as shall be reasonably required by it in connection herewith. (d) Such Loan shall not be prohibited by any applicable law, rule or regulation. Each request for a Loan shall be deemed to constitute a representation and warranty by the Company on the date thereof as to the matters specified in clauses (a) and (b) of this Section 4.2.

Subsequent Obligations. If this Contract is terminated for any cause, and at any time, the Parties are obliged to perform their legal obligations to each other, and to third parties, as contracted in this Contract. This includes the assumption of responsibility for loss and damage resulting from the unilateral termination and for causes acceptable to THE CONTRACTOR, where there are mandatory indemnities or compensation to pay. CLAUSE 29-ENVIRONMENT 29.1 THE CONTRACTOR will pay special attention to the protection of the environment, and to compliance with regulations on the matter. At the same time, THE CONTRACTOR will adopt and implement specific contingency plans to attend to emergencies, and repair damage in the most efficient and timely way possible. 29.2 THE CONTRACTOR will make a half-Yearly report to ANH on ▇▇vironmental aspects of operations in progress, the application of preventive plans and contingency plans, and with regard to the state of activities or applications to the environment convert environmental authorities with regard to permits, authorizations, concessions or licenses, as the case may be. 29.3 If an activity or Exploration Operations requires permits, authorizations, concessions or environmental licenses, THE CONTRACTOR will not pursue that activity or operation until the permit, authorizations, concession or license is obtained. RIO VERDE SECTOR EXPLORATION AND EXPLOITATION CONTRACT 29.4 THE CONTRACTOR may not commence Exploitation without approval of the environmental impact study and the issue of related environmental licenses. 29.5 Failure to comply with any of the obligations in terms of subsection 29.3 and 29.4, is a cause of termination of breach, in terms of Subsection 28.2 (g).

Subsequent Obligations. If this Contract is terminated for any cause, and at any time, the Parties are obliged to perform their legal obligations to each other, and to third parties, as contracted in this Contract. This includes the assumption of responsibility CLAUSE 29-ENVIRONMENT 29.1 THE CONTRACTOR will pay special attention to the protection of the environment, and to compliance with regulations on the matter. Without prejudice to compliance with legal or military requirements, for this purpose THE CONTRACTOR will prepare and execute plans of a preventive nature, to guarantee the protection, conservation and restoration of renewable natural resources affected by Exploration Operations, Evaluation Operations and Exploitation Operations under this Contract. At the same time, THE CONTRACTOR will adopt and implement specific contingency plans to attend to emergencies, and repair damage in the most efficient and timely way possible. 29.2 THE CONTRACTOR will make a half-Yearly report to ▇▇▇ on environmental aspects of operations in progress, the application of preventive plans and contingency plans, and with regard to the state of activities or applications to the environment convert environmental authorities with regard to permits, authorizations, concessions or licenses, as the case may be. 29.3 If an activity or Exploration Operations requires permits, authorizations, concessions or environmental licenses, THE CONTRACTOR will not pursue that activity or operation until the permit, authorizations, concession or license is obtained. 29.4 THE CONTRACTOR may not commence Exploitation without approval of the environmental impact study and the issue of related environmental licenses. 29.5 Failure to comply with any of the obligations is a cause of termination of breach, in terms of SubSection 28.2 (g). CLAUSE 30-ABANDONMENT