UK Obligation Sample Clauses
The 'UK Obligation' clause establishes specific duties or requirements that a party must fulfill under UK law or within the United Kingdom. Typically, this clause outlines compliance with relevant UK regulations, standards, or legal frameworks, and may require the party to obtain necessary permits, adhere to local practices, or ensure that their actions do not violate UK statutes. Its core practical function is to ensure that contractual activities are conducted in accordance with UK legal requirements, thereby reducing the risk of legal non-compliance and associated penalties.
UK Obligation. The UK Revolver Loans, UK LC Obligations and other UK Obligations constitute one general obligation of UK Borrower and are secured by Agent’s Lien on all UK Collateral; provided, however, that Agent and each UK Lender shall be deemed to be a creditor of, and the holder of a separate claim against, UK Borrower to the extent of any UK Obligations jointly or severally owed by such Borrower.