CLAUSE TWELVE definition

CLAUSE TWELVE. The parties do hereby expressly acknowledge that there is no relationship among them other than that of independent contracting parties; thus, none of the parties may assume powers of representation or agency for the other party. Accordingly, none of the parties may, directly or indirectly, carry on businesses or enter into agreements with third parties on behalf of the other, or assume obligations on their own account. CLAUSE THIRTEEN: Plus binds itself to observe all production standards established by Safe. CLAUSE FOURTEEN: Safe shall be entitled to supervise, periodically and regularly, the manufacturing process of Plus, and the latter shall award Safe free access to the place where said manufacturing takes place, as often as required. In any event, Safe shall ensure that it shall not cause interruptions and/or disturbances in the productive and/or commercial activities of Plus. During the term of this agreement, Plus shall maintain, on behalf of the joint venture, separate bank accounts and complete and accurate books and records (including, but not limited to, invoices, correspondence, banking and financial records covering all transactions relating to the manufacture and marketing of the Product and business of the joint venture). All funds receive and held by Plus on behalf of the joint venture shall be deemed trust funds. In addition, Plus shall furnish Safe with quarterly financial statements for the joint venture, including without limitation, detailed profit and loss statements. Safe and its duly authorized representatives shall have the right, upon at least five business days notice to examine and copy at Plus offices during business hours all the said books and records and all other documents and materials in the possession or under the control of Plus and its parents, subsidiaries, affiliates and related entities relating to or connected with the subject matter of this agreement.
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CLAUSE TWELVE. Mutual benefit: The parties expressly state that this agreement is the result of negotiations and mutual concessions between them, which are to their mutual benefit.
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CLAUSE TWELVE. CONCESSIONAIRE shall be bound to and cause its employees to abide by the approved rates and the Timetable (HOTRAN) approved, and all provisions of laws, regulations, instructions, directives in force now or in the future in connection with or applicable to the services. SOLE PARAGRAPH - The rates to be charged are subject to the approval of DAC under the regulations in force now or in the future. In order to determine such rates, the costs, the economic feasibility of the operation, the competition conditions, and, if possible, the economic conditions of the region served by the airlines are to be considered. CLAUSE THIRTEEN - CONCESSIONAIRE shall be subject to fines and other administrative measures provided for in the Brazilian Code of Aeronautics. CLAUSE FOURTEEN - This agreement shall be terminated by legal forfeiture resulting from the order of the Aeronautics Commander, regardless of legal notice, in the following events:
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Examples of CLAUSE TWELVE in a sentence

  • GRANTING CLAUSE TWELVE All rights which Mortgagor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.

  • GRANTING CLAUSE TWELVE [MINERALS, ETC.] TOGETHER WITH, all oil and gas and other mineral rights, if any, in or pertaining to the Land and all royalty, leasehold and other rights of Trustor pertaining thereto.

  • GRANTING CLAUSE TWELVE [MINERALS, ETC.] TOGETHER WITH all oil and gas and other mineral rights, if any, in or pertaining to the Land and all royalty, leasehold and other rights of Trustor pertaining thereto.

  • CLAUSE TWELVE The taking of samples and market surveys and the compilation of reports by the members states shall be done by applying the regulations of the standards organisations in the member states themselves, or by those authorities designated by each state.

  • CLAUSE TWELVE – PAYMENTSThe HIRER undertakes the obligation to pay to the RENTAL FIRM, all expenses arise from this contract, both General and Special Conditions, at its demand, as follows:The rental rate, regarding the rental period and the subscribed insurance coverage; Any charge referring to personal accident insurance, windscreen insurance, additional accessories and any other expense according to the RENTAL FIRM price table or the rates and fees referred in the Special Conditions of this contract.

  • GRANTING CLAUSE TWELVE All rights which Grantor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.

  • Here, the Union argues in large part that if Mack was disabled during his leave as Metro Transit asserts, then Metro Transit discriminated against him by not properly accommodating the disability by allowing him to work in a restricted duty position until January 2017.The Union points to Article 1, General Provisions, Nondiscrimination, Section 2, of the laboragreement.

  • CLAUSE TWELVE - The ISSUER states, on this date, that the Note’s outstanding balance is a certain and undisputed debt and promises to make payments on the dates and terms set forth in said document, pursuant to the amends provided in this First Amendment.

  • ONCE THE PRIOR CONDITIONS THAT ARE CONTRACTED FOR DUE TO CLAUSE TWELVE ARE MET, AND SIMULTANEOUSLY THE SIGNING OF THE PUBLIC DOCUMENT THAT WILL BE GENERATED BY THESE MINUTES, THE DOCUMENTS NECESSARY TO FORMALIZE TRANSFER OF OWNERSHIP OF THE BUSINESS LICENSE AND BEING ABLE TO MAKE IT EFFECTIVE WITH THE MUNICIPAL AUTHORITIES WILL BE SIGNED.

  • Loan No. 6518370 GRANTING CLAUSE TWELVE All rights which Mortgagor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.


More Definitions of CLAUSE TWELVE

CLAUSE TWELVE. This Agreement will terminate on December 12, 2002 and may be extended by the parties.
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CLAUSE TWELVE. NOTIFICATIONS — For the purposes and effects of the provisions of the article 58, item IV of Law no. 8245/91, it is expressly authorized that the notice, the judicial/extrajudicial notification or summon of the SUBLANDLORD, SUBTENANT or of any part related to this agreement, may be performed by mail with receipt notice, telegram or facsimile.
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CLAUSE TWELVE. EFFECT This document has a maximum duration of 30 (thirty) years, pursuant to the provisions of Article 394 of the General Law of
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CLAUSE TWELVE. Upon termination of the lease, LESSEE shall return the premises fully vacant of persons and things, in perfect maintenance and preservation conditions, regardless of any notice or notification, under penalty of being submitted to the fines herein imposed and other applicable legal provisions. First Paragraph: Delivery of the premises will occur upon delivery of the keys by LESSEE to LESSOR after inspection thereon. Clause Thirteen: This lease agreement shall be terminated in the event that reconstruction of the building is required as a result of fire or any accident, however, if LESSEE is to be blamed for such fire or accident, then it shall remain responsible even if the leased premises return to their previous condition. Paragraph One: In the event of expropriation of the leased premises by any competent public authority, this lease agreement shall be terminated and the parties hereof shall be released from any obligations established in this agreement, exception made to any rights resulting therefrom up to the time when expropriation takes place.
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Related to CLAUSE TWELVE

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • Non-Paying Guarantor has the meaning assigned to such term in Section 10.11.

  • Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.

  • Additional Defeasible Provision means a covenant or other provision that is (a) made part of this Indenture pursuant to an indenture supplemental hereto, a Board Resolution or an Officer’s Certificate delivered pursuant to Section 3.1, and (b) pursuant to the terms set forth in such supplemental indenture, Board Resolution or Officer’s Certificate, made subject to the provisions of Article Thirteen.

  • Paying Guarantor has the meaning assigned to such term in Section 10.11.

  • Qualifying Guarantee means an arrangement evidenced by a written instrument pursuant to which a Reference Entity irrevocably agrees (by guarantee of payment or equivalent legal arrangement) to pay all amounts due under an obligation (the “Underlying Obligation”) for which another party is the obligor (the “Underlying Obligor”). Qualifying Guarantees shall exclude any arrangement (i) structured as a surety bond, financial guarantee insurance policy, letter of credit or equivalent legal arrangement or (ii) pursuant to the terms of which the payment obligations of the Reference Entity can be discharged, reduced or otherwise altered or assigned (other than by operation of law) as a result of the occurrence or non-occurrence of an event or circumstance (other than payment). The benefit of a Qualifying Guarantee must be capable of being delivered together with the delivery of the Underlying Obligation.

  • Funding Guarantor as defined in Section 7.2.

  • Guarantee Fee shall have the meaning given to that term in Section 4.1.

  • Funding Guarantors as defined in Section 7.2.

  • Excess Funding Guarantor means, in respect of any Guaranteed Obligations, a Subsidiary Guarantor that has paid an amount in excess of its Pro Rata Share of such Guaranteed Obligations, (ii) “Excess Payment” means, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess of its Pro Rata Share of such Guaranteed Obligations and (iii) “Pro Rata Share” means, for any Subsidiary Guarantor, the ratio (expressed as a percentage) of (x) the amount by which the aggregate fair saleable value of all properties of such Subsidiary Guarantor (excluding any shares of stock or other equity interest of any other Subsidiary Guarantor) exceeds the amount of all the debts and liabilities of such Subsidiary Guarantor (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of such Subsidiary Guarantor hereunder and any obligations of any other Subsidiary Guarantor that have been Guaranteed by such Subsidiary Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties of the Borrower and all of the Subsidiary Guarantors exceeds the amount of all the debts and liabilities (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of the Obligors hereunder) of the Borrower and all of the Subsidiary Guarantors, determined (A) with respect to any Subsidiary Guarantor that is a party hereto on the date hereof, as of the date hereof, and (B) with respect to any other Subsidiary Guarantor, as of the date such Subsidiary Guarantor becomes a Subsidiary Guarantor hereunder.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Forced or indentured child labor means all work or service-

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Canadian Subsidiary Guarantor each Canadian Subsidiary of any Canadian Borrower which executes and delivers the Canadian Guarantee and Collateral Agreement, in each case, unless and until such time as the respective Canadian Subsidiary Guarantor ceases to constitute a Canadian Subsidiary of the Parent Borrower or is released from all of its obligations under the Canadian Guarantee and Collateral Agreement in accordance with the terms and provisions thereof.

  • Legal Defeasance has the meaning assigned to it in Section 8.1(b).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Covenant Defeasance has the meaning specified in Section 1303.

  • Defeasance has the meaning specified in Section 1302.

  • Subsidiary Guarantee Agreement means the Subsidiary Guarantee Agreement, substantially in the form of Exhibit I, made by the Subsidiary Guarantors in favor of the Collateral Agent for the benefit of the Secured Parties.

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • Threshold Event Cure shall have the meaning assigned to such term in Section 5(g).

  • RUNNING CHARGE PER KILOMETER means the rates payable against each KM run. and shall be deemed to include all the expenditures of the Transport Supplier viz., cost of fuel, tyre/tube, battery & consumables like lubricants etc. and other maintenance expenditures including accessories involved including GST element as applicable towards movement of the vehicle(s)/equipment.

  • Loan guarantee means any guar- antee, insurance, or other pledge with respect to the payment of all or a part of the principal or interest on any debt obligation of a non-Federal borrower to a non-Federal Lender, but does not in- clude the insurance of deposits, shares, or other withdrawable accounts in fi- nancial institutions.

  • Instantaneous rate of discharge of oil content means the rate of discharge of oil in litres per hour at any instant divided by the speed of the ship in knots at the same instant.

  • Loan Guaranty means Article X of this Agreement.

  • Maximum daily discharge limitation means the highest allowable “daily discharge.”