Second Paragraph definition
Second Paragraph. The PROMISING TRANSFEROR has all necessary corporate power and authority and has taken all corporate action necessary to enter into this Agreement, to consummate the transactions contemplated on its part hereby and to perform its obligations hereunder. The execution, delivery and performance of this Agreement and the consummation of the transactions described herein by the PROMISING TRANSFEROR have been duly authorized by all requisite corporate action. This Agreement has been duly executed and delivered by the PROMISING TRANSFEROR and, assuming the due execution and delivery thereof by the PROMISING TRANSFEREE, is a valid and binding obligation of the PROMISING TRANSFEROR, enforceable against it in accordance with its terms.
Second Paragraph. In case the Due Date does not occur on a Working Day in the county of Sao Paulo or Vitoria, the payment must be made on the first subsequent Working Day. Third Paragraph- The invoice, with corresponding due dates, shall be presented by Seller to Purchaser at least 5 (five) Working Days before the first due date. Fourth Paragraph- the sums of the invoices shall be deposited in the checking account indicated by Seller. 7th Clause- The Price mentioned in 5th Clause above, updated according to the Third Paragraph of it, shall be readjusted during the whole Period of Supply, every 12 (twelve) months (or at the smallest periodicity allowed by the Applicable Legislation, as long as this smallest periodicity be equally applicable to the readjustment of fees of Escelsa, as foreseen in the contract of concession of distribution of Escelsa) based on the accumulated variation of the IGPM in that period, which shall correspond to the index obtained by the division of the indexes of IGPM of the month preceding the readjustment and of the month before the last readjustment. 8th Clause- In case, related to any invoice, there are undisputed sums and related sums which Purchaser may have questioned the respective certainty and liquidity, Purchaser, independent of the questioning presented in print to Seller, before the Due Date, must, in the respective Due Date, make the payment of the unquestionable parcel, risking, with the objection, to portray its default. Having solved the matter related to the questioned parcel within at most 10 (ten) Working Days, Purchaser must, within 5 (five) Working Days from the date in which the composition between the Parties shall take place, make the payment of the remaining parcel of the value of the referred parcel, plus interest, in the terms of 9th Clause below. The interest shall be calculated pro rata die between the Due Date of the respective invoice and the date of the effective payment, being understood and accepted that the interest rate above mentioned shall only be applicable to the remaining values, object of controversy, in the hypothesis of the questioning by Purchaser being erroneous. 9th Clause- In case, for any reason, Purchaser does not pay the invoice or part of the sum of the invoice issued by Seller on the Due Date or, in case of the non-payment of part of the invoice, within the period established in 8th Clause above, whichever the case, Purchaser shall be subject to the payment of the due sum, plus a fine of 2% (two p...
Second Paragraph. The PROMISING TRANSFEROR shall use its best efforts so as to obtain the previous administrative authorization(s) required in connection with the execution of the definitive transfer agreement, cooperating, in a diligent and active manner, in all bureaucratic proceedings which may be necessary or convenient to accomplish such end. The PROMISING TRANSFEROR also agrees, if necessary, to look for alternative solutions to make such transfer possible, provided such alternative solutions are not excessively burdensome.
Examples of Second Paragraph in a sentence
Second Paragraph The payment of each installment within the deadlines and for the due values, shall be considered to have been formalized through the effective receipt of the values in the account indicated in the First Paragraph of this Clause.
Second Paragraph The Creditor Institution shall have the option of delivering to Net ServiÇos the notices, communications and/or notifications addressed to any Net Group Company, and in the same way, any Net Group Company shall have the option of delivering to the Collateral Agent any notice, communication and/or notification addressed to the Creditor Institution related to the Pledge Agreements mentioned in item (4) of the Preamble to this Instrument.
Second Paragraph- The Parties agree, yet, that Purchaser shall take on all the risks, obligations, responsibilities, tariffs, costs and liabilities of transmission, distribution and connection, and losses of transmission perchance incident and/or verified after the delivery of the Contracted Electrical Energy at the Delivery Spot.
Second Paragraph – Termination shall be formal, and it shall be informed in writing to the appropriate regulatory entities so that they may take whatever measures are needed.
Second Paragraph – the cargo compartment of the vehicles to be used by BRASILAGRO for the sugarcane delivery shall meet the proper specifications and models, according to the standards accepted by BRENCO, in order to enable the unloading of sugarcane stalks in the feed table existing at BRENCO’s industrial units, which shall be equipped to receive only chopped sugarcane from mechanized harvesting, with exception for the provision stated in the paragraph below.
More Definitions of Second Paragraph
Second Paragraph. For purposes of the exercise of the option by the PROMISING TRANSFEREE, as provided in the First Paragraph above, it is incumbent upon it to present to the PROMISING TRANSFEROR the text of the definitive transfer agreement or agreements, depending on whether it opts for the joint transfer of the Permissions, or for their transfer individually or in groups.
Second Paragraph. The provisions in Clause 19 shall apply for any amounts being contested that may be later agreed on, or which may get defined as being the amounts due, except for the fine. Interest and adjustment for inflation shall be computed as of the due date of the parcel being contested and until the date of its settlement, excluding the day of settlement itself.
Second Paragraph. The PROMISING TRANSFEREE has all necessary corporate power and authority and has taken all corporate action necessary to enter into this Agreement, to consummate the transactions contemplated on its part hereby and to perform its obligations hereunder. The execution, delivery and performance or this Agreement and the consummation of the transactions described herein by the PROMISING TRANSFEREE have been duly authorized by all requisite corporate action. This Agreement has been duly executed and delivered by the PROMISING TRANSFEREE and, assuming the due execution and delivery thereof by the PROMISING TRANSFEROR, is a valid and binding obligation of the PROMISING TRANSFEREE, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratoriums or other similar laws now or hereafter in effect relating to creditors, rights generally and by general principles of equity (whether considered in an action at law or in equity) and the discretion of the court before which any proceeding therefor may be brought. Clause Seven: MUTUAL COVENANTS OF THE PARTIES First Paragraph: From the date hereof until the date upon which the definitive agreement(s) for the transfer of the Permissions are executed, the PROMISING TRANSFEROR shall:
Second Paragraph. In accordance with the School's internal policies, the possibility of making use of this advanced payment pension system is only applicable at the time of enrolment of the Student in the first grade to which he/she enters; therefore, it is not possible to make use of the advanced payment pension system during subsequent School years. Third Paragraph: Parents or Legal Guardians who take the Advanced Payment Pension System accept that under no circumstances shall they be entitled to reimbursement of the amount of the advance payment of pensions, unless such reimbursement is requested within five (5) years from the date on which the Student is enrolled, by withdrawal of the Student from the School, or because the Student's enrolment is cancelled or not renewed, in accordance with the School's Community Handbook. In such cases, the School will pay the reimbursement by deducting the amounts according to the amortisation of the advance payment contemplated in the Advanced Payment Agreement.
Second Paragraph. In case of any unjustified delay in the payment of invoices not objected on time by THE BUYER, in accordance with the provisions in the first paragraph of this article, THE BUYER shall recognize to THE SELLER, as interest payable in pesos, the highest interest rate authorized by the Superintendence of Finance during the default days effectively elapsed. In order to calculate the late interests, the amount of the overdue invoice(s) in dollars shall be first converted to Colombian pesos at the market representative exchange rate, on their date of issuance, as per certification of the Superintendence of Finance of Colombia. THE BUYER shall pay the invoices charging late interests thirty (30) calendar days after their reception by THE BUYER. Both THE BUYER and THE SELLER understand that the invoices issued as well as the Contract hereof shall be a writ of execution and THE BUYER and SELLER expressly wave any private or judicial requirements to file as default.
Second Paragraph. For the purposes of this Clause, "Accumulated DI Factor" means, for any calculation date, the interest rate effective from January 01, 2004 until the calculation date.
Second Paragraph. The civil liability policies shall name THE AIRLINES and other persons listed in this paragraph as additional insureds and must include a non-modification or cancellation clause, other than with prior notification of thirty (30) calendar days or seven (7) calendar days in the event of risk of war. TERPEL must submit to THE AIRLINES, as evidence of said policies, the corresponding insurance certificates, which it shall submit at the latest ten (10) working days as of the date of execution of the Agreement. This insurance shall also include a severability of interests clause, which shall operate as if a separate policy had been issued for each of the insureds, except that in no event shall the insurer’s total liability with all of the insureds shall exceed the civil liability limit contracted by TERPEL in the cover sheet of this policy.