Nedcor definition
Examples of Nedcor in a sentence
Any costs and expenses incurred by Nedcor shall be borne by Net 1 and credited to the Licensee against any licence fees.
In taking such steps Nedcor shall not be acting as the agent or in any way on behalf of Net 1 but Net 1 shall give all reasonable assistance to facilitate any such proceedings by Nedcor.
The indemnity in this Clause 8.2 shall be unlimited and shall cover all losses, costs, damage and expenses of Nedcor and any Licensee howsoever arising and to the fullest extent permitted by law.
Each of the parties agrees that it will not use its position to disadvantage the other and that, save for the purposes of giving effect to this Agreement, all relationships between Nedcor and Old Mutual will be on an arm’s length basis, unless otherwise mutually agreed.
In the case of joint ventures involving participation by both Nedcor or one of its subsidiaries on the one hand and a member of the Old Mutual group (excluding Nedcor and its subsidiaries) on the other hand, the applicable governance and management arrangements will be documented in formal joint venture agreements.
Old Mutual agrees that it will cooperate with Nedcor to facilitate the achievement of the objectives described in the first sentence of the first paragraph of this Clause 4 and will also, so far as reasonably practicable, keep Nedcor informed of its proposals for Old Mutual group strategy, insofar as these may impinge directly on Nedcor.
If, however, the bond is granted by ABSA Bank, First National Bank, Nedcor Bank or Standard Bank, the Seller shall pay the Purchaser's bond registration costs, for the purchase amount, excluding any administration, valuation, assessment and any other fees levied by the lending bank to the Purchaser.
Where shares in Old Mutual may be dealt in by companies in the Nedcor group in accordance with the exceptions mentioned above, Nedcor will ensure that any price sensitive or confidential information relating to Old Mutual is protected from those involved in such dealings by the use of “Chinese walls” or other appropriate mechanisms.
Nedcor agrees that it will actively seek to identify, develop and exploit synergies, joint ventures, coordination of product design and opportunities for secondment of personnel and sharing of knowledge and expertise with other businesses in the Old Mutual group in pursuit of its communicated strategy, particularly with Old Mutual (South Africa) Limited and its subsidiaries and in the area of bancassurance, for the mutual benefit of both parties.
If Net 1 is unable to make the Patents non-infringing, then Nedcor may terminate this Agreement without liability and without prejudice to any claims against Net 1 which Nedcor or the Licensee may have, and Net 1 shall refund any licence fees paid by the Licensee.