ITEC definition

ITEC has all requisite right, power and authority, without the consent of any other person or entity, to execute and deliver this Agreement and the agreements to be executed and delivered at Closing and to carry out the transactions contemplate hereby and thereby. All actions required to be taken by ITEC to authorize the execution, delivery and performance of this Agreement and all agreements and transactions contemplated hereby have been duly and properly taken.

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ITEC means International Truck and Engine Corporation (formerly known as Navistar International Transportation Corp.).

ITEC means Itec Integrate Proprietary Limited, and all of its affiliates (including direct and indirect subsidiaries and parents), a company listed on the Service Order;

Examples of ITEC in a sentence

• The Contractor shall use its commercially reasonable business efforts to adapt its business processes as the ITEC Direct technical requirements, environment and architecture evolve.

• This BPA may be placed in the Department of the Navy’s (DON) ITEC Direct system as part of the DON Information Technology Electronic Commerce (ITEC) Direct Project.

• This effort may require the Contractor to adapt their practices so that electronic commerce can be conducted through ITEC Direct to the vendor.

• All actions required to be taken by GLCP to authorize the execution, delivery and performance of this Agreement and all agreements and transactions contemplated hereby have been duly and properly taken, with the exception of those actions specifically identified in Section 6 hereof ("Conditions Precedent to Obligations of ITEC") to be taken by GLCP subsequent to the execution of this Agreement but prior to the Closing.

• GLCP and ITEC hereby agree to keep, perform and fully discharge the following covenants and agreements.

• ITEC acknowledges that said amount is currently due and payable and the Form 10Q-SB which filing is due August 15, 2002, can not be filed until such payment is made.

• The Contractor shall maintain a database of prices with the required and relevant information and links to technical specifications to be accessible by ITEC Direct in a distributed database environment.

• Six hundred dollars ($1,380,600.00) in the form of an interest-free (or bearing interest at such rate as the IRS may deem to be the minimum interest rate, with any such interest payable on the same conversion terms as the principal) convertible promissory note, due two (2) years from the Closing, convertible into ITEC common stock at the average of the closing prices for the ten (10) trading days immediately preceding the date of the notice of conversion delivered by GLCP to ITEC (the "Convertible Note").

• The exercise price of the warrants may be paid by ITEC, at its sole discretion in cash or in the form of convertible notes with the same terms as the Convertible Note.

• If placed in ITEC Direct, the Contractor shall ensure that the data and information distributed to the Government to be loaded in ITEC Direct is current, accurate, complete, in the standard format enabling expedient data loading and relevant to the acquisition vehicle.

More Definitions of ITEC

ITEC means Itec Integrate Proprietary Limited, a company listed on the Service Order;

ITEC means International Truck and Engine Corporation.

ITEC. The Information Technology Exchange Center of the State University of New York. Licensed Processor: Equipment (Processor) configuration under the control of SUNY or an Authorized User. Master Copies: Master copies of the Software and any updates and New Releases provided to SUNY by SmartForce. New Titles: New title releases covering new content or training on products for which training is not available under previous titles. Not Replacements. Participating Institution (PI): An institution of SUNY listed on Attachment B which has signed a Participating Institution Agreement.

ITEC. All references in the Pooling and Servicing Agreement to "NITC" shall be deemed to refer to "ITEC."

ITEC means a charitable institution or charitable fund that is approved by the Commissioner of Taxation as an income tax exempt charity for the purposes ofthe Income Tax Assessment Act 1936 (Cth);