GEIL definition
Examples of GEIL in a sentence
GEIL is duly organized, validly existing, and in good standing under the laws of the country of Belize and is qualified to do business as a foreign corporation in each jurisdiction, if any, in which its property or business requires such qualification.
GEIL has complied with all applicable laws and regulations, and are not in violation of, and have not received any written notices of violation with respect to, any laws and regulations in connection with the conduct of their respective businesses or the ownership or operation of their respective businesses, assets and properties, in regard to the Property.
Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties, covenants and agreements contained herein, at the closing of the transactions contemplated hereby, GEIL hereby sells, conveys, assigns and transfers 100% of GEIL’s interest in and to the Voting Trust Agreement and the Acquisition Agreement and any and all claims, rights in respect of the Property, to GGRI.
GEIL shall have performed all agreements and covenants required to be performed by them under this Agreement prior to Closing, except for breaches that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement.
The representations and warranties of GEIL set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Closing as though made on and as of the Closing, except: (i) as otherwise contemplated by this Agreement, or (ii) in respects that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement.
Permitted Encumbrances shall mean: (a) liens for taxes not yet delinquent; (b) lessor’s royalties, overriding royalties, reversionary interests and similar burdens that do not operate to reduce the net revenue interest of GEIL in the Property; (c) the consents and rights described herein insofar as such contracts and agreements do not operate to increase the working interest of GEIL or decrease the net revenue interest of GEIL.
All notices and other communications hereunder shall be in writing and shall be given by personal delivery, overnight delivery, mailed by registered or certified mail, postage prepaid, with return receipt requested, as follows: If to GEIL to: Cor ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Calle Al Mar Belize City, Belize If to GGRI to: Mr. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, President ▇▇▇▇ ▇.
Execution of this Agreement has been duly authorized and approved by GEIL.
To the knowledge of GEIL, there are no pending, threatened, or existing litigation, bankruptcy, criminal, civil, or regulatory proceeding or investigation, threatened or contemplated against GEIL which, if decided adversely to GEIL, would impose any rights or interest or judgment against the Property.
There are no material contracts of GEIL currently in existence in relation to the Property except as disclosed herein.