IFCO definition
Examples of IFCO in a sentence
No amendment or waiver of any provision of this Guaranty nor consent to any departure by Guarantor therefrom shall, in any event, be effective unless the same shall be in writing and signed by IFCO and Guarantor, and then any such waiver or consent shall apply only to the specific occasion which is the subject of such waiver or consent and shall not apply to the occurrence of the same or any similar event on any future occasion.
Nothing in this Section shall affect the right of IFCO to serve legal process in any other manner permitted by law or affect the right of IFCO to bring any action or proceeding against Guarantor or its property in the courts of any other jurisdiction.
All payments by Guarantor hereunder shall be made by deposit of immediately available funds to an account identified by IFCO.
Such right of assignment shall include, but not be limited to, any collateral assignment by IFCO to a trustee or provider of funds or credit in connection with any financing of the Project.
No failure on the part of IFCO or Guarantor to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise thereof, or the exercise of any other right operate as a waiver thereof.
Without limiting the generality of the foregoing and notwithstanding anything herein to the contrary, a termination of the Limited Notice to Proceed and the Contracts by IFCO for an Event of Default by Purchaser occurring on or before the date of the Financial Close for the Project, if any, shall not impair, diminish, release or otherwise affect Guarantor’s obligations hereunder.
This Guaranty shall extend to any variation or amendment to any Contract (made in accordance with its terms) and to any agreement supplemental thereto agreed between Purchaser and IFCO.
By the execution of this Guaranty, each of IFCO and Guarantor hereby irrevocably submits to the non-exclusive jurisdiction of any such court in any such action, suit or proceeding.
The Department is responsible for determining the overall allocation of funding to IFCO i.e. the annual grant, while IFCO is responsible for the allocation of its current expenditure within agreed budgetary parameters.
The implementation of this agreement will be monitored through twice yearly, or more if required, governance meetings between IFCO and the Civil Governance Function in the Department to provide an update on developments and achievement of targets set out in this agreement.