Examples of Master Letter Agreement in a sentence
Lessee has the corporate power and authority to conduct its business as now conducted, to own or hold under lease its property, to lease the Property and to enter into and perform its obligations under the Lease, as amended by this Amendment, and the Master Letter Agreement.
Notwithstanding any provision in the Master Letter Agreement to the contrary, the Lessor shall be obligated to pay to the Applicant within ninety (90) days after the termination of this Lease an amount equal to the portion of the LOC Account Excess Amount (as defined in the Master Letter Agreement) received by the Lessor, if any, that is not required to be used to satisfy the Lessee’s unpaid obligations under this Lease.
Each of the Lease, as amended by this Amendment, and the Master Letter Agreement constitutes the legal, valid and binding obligation of Lessee, enforceable against Lessee in accordance with the terms thereof, except as enforceability may be limited by bankruptcy, moratorium, fraudulent conveyance, insolvency, general principles of equity or other similar laws affecting the enforcement of creditors’ rights in general.
The Lessor hereby covenants and agrees that it will continue to comply with its covenants and agreements set forth in Section 5.01 and Section 5.02 of the Indenture, as in effect on the date hereof, until such time as any amount due and payable to the Applicant under this Section 13.5 or under Section 4(b)(vi)(B) of the Master Letter Agreement is paid to the Applicant.
Upon a draw on a Qualified Letter of Credit by the Beneficiary, the proceeds shall be deposited and handled as set forth in that certain Master Letter Agreement dated as of even date herewith (the “Master Letter Agreement”).
Foremost, the facts allow for the inference that the Vicem Agreement, its addendums, and the Master Letter Agreement contemplated the use of authorized Windsor Yachts’ dealers, one of which is Crosby, and that the warranty and indemnity provisions included in those documents create rights and benefits for Crosby.
The Vicem Agreement contains a merger clause that provides: Section 23) Entire Agreement: This Agreement, including the Addendums referred to herein, and the Master Letter Agreement between the parties, along with the attachments thereto, contain the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements and understandings, oral or written, and all prior custom and practice between the parties with respect to such matters.
That liberty of opinion is allowed on matters in the subordinate standard not essential to the doctrine therein taught, the church guarding against the abuse of this liberty to the injury of its unity and peace.
Lessee is duly qualified to do business and is in good standing as a foreign corporation in any jurisdiction where the failure to so qualify would have a material adverse effect on its ability to perform its obligations under the Lease, as amended by this Amendment, and the Master Letter Agreement.
Defendants strenuously maintain that nothing in the Master Letter Agreement permits Winsdsor Yachts to sell the yachts to dealers or distributors who will then sell the yachts to end-use purchasers.Plaintiffs add that other portions of the Vicem Agreement demonstrate that Defendants and Windsor Yachts contemplated the use of dealers and distributors, including Plaintiffs, to sell the yachts.