CLAUSE FIVE definition

CLAUSE FIVE. For purposes of this agreement, deductible costs shall be the following:

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CLAUSE FIVE. CONCESSIONAIRE shall report to DAC the results of the operations by submitting statistic-financial reports, on a monthly basis, according to the rules established by DAC. SOLE PARAGRAPH - In addition to the monthly report provided for herein, DAC may request CONCESSIONAIRE to submit annual, periodic or special statistical and financial reports regarding its operations, in which case it shall provide for instructions on how such reports are to be prepared. It may additionally require from CONCESSIONAIRE to submit a true copy of any agreement, covenant or understanding to which it was a part. CLAUSE SIX - Upon the execution hereof CONCESSIONAIRE shall be required to prove the payments made to the Social Security System and to the Employee's Severance Fund (FGTS), and shall be in full compliance therewith at all times thereafter, DAC being entitled to request such payment proof at any time. CLAUSE SEVEN - CONCESSIONAIRE shall be required to prove its compliance with the Public Finances by showing the Certificate of Non-Existence of Taxes and Federal Contributions, and the Union Active Debt Payment Certificate, upon the execution hereof. CLAUSE EIGHT - CONCESSIONAIRE shall be bound to abide by the rights of those using the services hereunder, pursuant to art. 6, Law # 8078/90, without prejudice of the rules provided for in the Brazilian Code of Aeronautics and supplementary laws on such legal matter, and, in case of international public air transportation, of the provisions in the relevant Treaties and Conventions. CLAUSE NINE - CONCESSIONAIRE shall be bound to contribute to the AIR TRANSPORTATION FUND and maintain the proper records of such contribution, DAC being entitled to require the corresponding payment proof. CLAUSE TEN - DAC shall, from time to time and by means of agents duly accredited by the General Director, generally audit the CONCESSIONAIRE accounts regarding the airlines hereunder. CLAUSE ELEVEN - Regardless of such audits, DAC auditors shall be allowed to access CONCESSIONAIRE's accounting records at any time to inspect any air service related account hereunder or of the corresponding document.

CLAUSE FIVE. PROVISION OF CAB LESHIPS AND DEPOT(S) Clause 5(b) shall be amended to read:

Examples of CLAUSE FIVE in a sentence

• GRANTING CLAUSE FIVE [OPTIONS TO PURCHASE, ETC.] TOGETHER WITH, all right, title and interest of Trustor in and to all options and other rights to purchase or lease the Property or any portion thereof or interest therein, if any, and any greater estate in the Property owned or hereafter acquired by Trustor.

• GRANTING CLAUSE FIVE [OPTIONS TO PURCHASE, ETC.] TOGETHER WITH all right, title and interest of Trustor in and to all options and other rights to purchase or lease the Property or any portion thereof or interest therein, if any, and any greater estate in the Property owned or hereafter acquired by Trustor.

• GRANTING CLAUSE FIVE All awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to the Real Property, or any part thereof, whether from the exercise of the right of eminent domain (including but not limited to any transfer made in lieu of or in anticipation of the exercise of said right), or for a change of grade, or for any other injury to or decrease in the value of the Real Property.

• FUND ALLOCATION PURSUANT TO CLAUSE FIVE • 11.25% Trust for Works of the National Airport System (Pursuant to Sub-Appendix III A).

• CLAUSE FIVE - Contractual changes shall be formalised by an Amendment Agreement effective immediately upon its signing by the CONTRACTED PARTY and the CONTRACTING PARTY.

• CLAUSE FIVE – PERIOD OF VALIDITY AND DEADLINES SUB‐CLAUSE ONE – This Contract shall be valid for 2 (two) months starting from the date of its signature.

• CLAUSE FIVE - PERIOD OF VALIDITY AND DEADLINES SUB-CLAUSE ONE - This Agreement will be valid for 04 (four) months starting from the date of its signing, and may also be extended in the cases provided for in § 1 of Art.

• CLAUSE FIVE - The Parties agree to amend the amounts set forth in the payment schedule of the Principal and the Financial Charges, so that Annex I of the CCB will become effective under the terms of Annex A of this Third Amendment.

• CLAUSE FIVE - SUCCESSION The obligations stipulated in this Contract should be undertaken by any third party that acquires ownership of the SHARES acquired hereunder by the PURCHASER, representing stock control, under penalty of declaring the transfer of such shares thereto null and void.

• CLAUSE FIVE: SUBSISTENCE OF THE DEFINITIONS OF THE LOAN AGREEMENT.

More Definitions of CLAUSE FIVE

CLAUSE FIVE. EMPLOYER shall grant a monthly advance corresponding to 40% (forty percent) of the fixed salary on a date it will establish.

CLAUSE FIVE. The parties set forth that the repayment will be subject to the condition precedent mentioned in clause Three, making sure that in the event that the initial public offering (IPO) does not occur, the terms and conditions will be renegotiated for partial payment of the amounts contained in this Agreement.