The Undertaking Sample Clauses
The "Undertaking" clause defines a party's formal promise or commitment to perform certain actions or fulfill specific obligations under the agreement. In practice, this clause outlines what the party is required to do, such as delivering goods, providing services, or adhering to particular standards, and may specify timelines or conditions for performance. Its core function is to clearly establish the responsibilities of the parties, thereby ensuring accountability and reducing the risk of misunderstandings or disputes regarding what is expected.
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The Undertaking. 2.1. The Performance Guarantor guarantees to the Beneficiary that in the event of a failure by any Originator to pay when due its respective Obligations, the Performance Guarantor, subject to the terms of this Performance Undertaking, will immediately pay such Obligation. The liability of the Performance Guarantor under this Performance Undertaking shall be absolute and unconditional irrespective of any lack of genuineness, validity, legality or enforceability of any Transaction Document or any other document, agreement or instrument relating thereto or any assignment or transfer of any thereof. The Performance Guarantor hereby expressly and irrevocably waives, to the fullest extent permitted by law, any and all defenses, counterclaims or offsets available to it under applicable law, except the defense of discharge by payment in full or that any applicable statute of limitations on any claims hereunder has run. The obligations of the Performance Guarantor hereunder shall not be discharged, released or affected by any circumstance whatsoever, involving without limitation any bankruptcy, insolvency, reorganization or similar proceeding with respect to any of the Originators or any other Person or any taking, exchange, release or non-perfection of any collateral security for any of the Obligations, any manner of application of such collateral security or any proceeds thereof or any sale or other disposition of such collateral security or the exercise or failure to exercise any remedies by the Beneficiary (or the Purchaser) against any of the Originators or any taking, release, amendment or waiver of or consent to departure from any other guarantee of any of the Obligations. This Performance Undertaking is in no way conditioned upon any attempt to collect or enforce performance or compliance by any of the Originators or any other event or circumstance. Notwithstanding the foregoing, this Performance Undertaking is not a guarantee of the recovery of any of the Receivables whether in part or in full, and the Performance Guarantor shall not be responsible or liable for any inability of any Person (including but not limited to the Beneficiary and the Purchaser) or any Person deriving title from or claiming through any of them to collect any Receivable due to the inability, insolvency, bankruptcy, lack of creditworthiness, refusal or failure to pay of the related Obligor. The Performance Guarantor acknowledges and agrees that it is informed of the financial situati...
The Undertaking. The Fund hereby undertakes that on the Maturity Date, shares of the Fund of any Class of Shares may be redeemed for an amount no less than the Guarantee Per Share for that Class of Shares. ARTICLE III
The Undertaking. The Employer undertakes that: • the Enterprise Agreement, if approved, will not be applied so as to permit employees to bank additional hours worked in excess of the ordinary working hours; and • the employer will not accept any request made by an employee for the banking of hours as provided in the agreement, and all hours worked will be paid for in accordance with the usual arrangements in the agreement as to time of payment, and as required by the Fair Work Act 2009 (Cth) and the Fair Work Regulations 2009 (Cth); • the Employer will ensure that no employee of the Employer who, is subject to the agreement, will, in the event that Fair Work Australia accepts the undertaking, suffer any financial detriment as a result of the undertaking being effected; and • the Employer will conform with this undertaking.
The Undertaking