Xxxxxxxx Clause. The Lender shall not be obliged to xxxxxxxx in your favour or in favour of any other person.
Xxxxxxxx Clause. In the event of the passage or enactment of any law, order, rule or regulation subsequent to the date hereof in any manner changing or modifying the laws now in force governing the taxation of mortgages or security agreements or debts secured by mortgages or security agreements or the manner of collecting taxes so as to affect adversely the Director, the Director may, at the Director's option, declare an Event of Default hereunder unless promptly upon such passage or enactment the Company assumes, in a manner satisfactory to the Director, the obligation to pay any taxes or other financial burdens imposed upon the Director.
Xxxxxxxx Clause. In the event of the enactment of or change in (including a change in interpretation of) any Applicable Law (i) deducting or allowing any Loan Party or any of its Subsidiaries to deduct from the value of any Mortgaged Property for the purpose of taxation any Lien thereon, (ii) subjecting any Lender to any tax in respect of, or changing the basis of taxation in respect of, the Mortgages, or the manner of collection of such taxes (other than Taxes on net income, franchise taxes and doing business taxes), or (iii) for the taxation of mortgages or debts secured by mortgages or in the means of collection of any such tax, in each such case, so as to affect any Lender or the Notes or the Mortgages or any other Loan Document, and the result is to increase the taxes imposed upon or the cost to any Lender of maintaining the Loans, or to reduce the amount of any payments receivable under the Notes, the Mortgages or any other Loan Document, or to invalidate the Lien created by any Security Document, then, in any such event, Borrower shall, within twenty Business Days of receipt of a request therefor, accompanied by documentation verifying the nature, amount and due date, pay to such Lender additional amounts to compensate for such increased costs or reduced amounts; provided, however, that if any Lender makes such a request, or if the Lien created by any Security Document may be invalidated, then Borrower shall have the right, and, in the case of such invalidation, shall have the obligation, to prepay the Loans in accordance with the provisions of this Agreement and the Notes; provided further, however, that if any such payment or reimbursement shall be unlawful or would constitute usury or render the Loans wholly or partially usurious under Applicable Law, then the Agent may, in its sole discretion, declare the Loans so affected immediately due and payable (without premium or penalty) and/or require Borrower to pay or reimburse the Lenders for payment of the lawful and non-usurious portion thereof not less than 180 days after notice of such declaration.
Xxxxxxxx Clause. The word "mortgagee" includes trustee and lienholder.
Xxxxxxxx Clause. Section 1. The Council Representative shall furnish or appoint a xxxxxxx for a job or a shop when the Council Representative deems it necessary. The Council Representative will discuss with the contractor who he intends to furnish or appoint for a job or shop. It is compulsory that the xxxxxxx shall work and that he/she shall be qualified to perform the work to which he/she is assigned and that he or she shall not be discriminated against or discharged for the performance of his or her duties as xxxxxxx. The xxxxxxx shall be allowed to see that proper care and attention has been given to any xxxxxxxxx employee taken sick or being injured on the job and to properly take care of his or her tools without loss of pay.
Xxxxxxxx Clause. Each Obligor shall perform its obligations under each Finance Document to which it is a party notwithstanding any failure by the Seller to fulfil its obligations under any commercial arrangement entered into with an Obligor or otherwise and no Obligor shall use any failure as an excise, defence, set-off or counterclaim in respect of its obligations under any Finance Document.
Xxxxxxxx Clause. Each Borrower shall perform its obligations under each Finance Document to which it is a party notwithstanding any failure by the Seller to fulfil its obligations under the relevant Shipbuilding Contract or otherwise and each Borrower shall not use any such failure as an excuse, defence, set-off or counterclaim in respect of the Borrower’s obligations under any Finance Document.
Xxxxxxxx Clause. 142 6.14 Interest Rate Protection............................
Xxxxxxxx Clause. The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of pay- ment will be the same as the order of precedence of the mortgages. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
Xxxxxxxx Clause. In the event of the passage or enactment of any law, order, rule or regulation subsequent to the date hereof in any manner changing or modifying the laws now in force governing the taxation of mortgages or security agreements or debts secured by mortgages or security agreements or the manner of collecting taxes so as to affect adversely the (name of local jurisdiction), the (name of local jurisdiction) may, at the (name of local jurisdiction)'s option, declare an Event of Default hereunder unless promptly upon such passage or enactment the Company assumes, in a manner satisfactory to the (name of local jurisdiction), the obligation to pay any taxes or other financial burdens imposed upon the (name of local jurisdiction).
