Common use of THIRTY-FOURTH Clause in Contracts

THIRTY-FOURTH. Any foreigner who upon incorporation or at any time thereafter acquires an interest or participation in the Company and/or the property rights, concessions, participations or interests owned by such companies or the rights and obligations derived from the agreements to which such companies are parties with Mexican authorities, shall be considered ipso facto as a Mexican citizen with respect to such interest, participation, concession, right, obligation and agreement and it shall be understood that he agrees not to seek the protection of his government under penalty, in case of breaching said agreement, of forfeiting such interest or participation to the Mexican Nation.

Appears in 2 contracts

Sources: Members Agreement (Dan River Inc /Ga/), Members Agreement (Dan River Inc /Ga/)