Examples of Section 16(b in a sentence
Each Borrower shall direct all present and future insurers under its “All Risk” policies of property insurance to pay all proceeds payable thereunder directly to the Term Agent; provided that each Borrower shall be permitted to replace, repair, restore or rebuild the Collateral subject to such Event of Loss in accordance with, and to the extent permitted under, Section 1.6(b).
Customer’s sole remedy in the event the Services do not conform to the foregoing limited warranty is for Xxxxxx to use commercially reasonable efforts to correct such non-conformance and the right to terminate this Agreement in accordance with Section 16(b).
The Purchase Price shall be further adjusted after the Closing in accordance with (i) Section 1.6(a) to reflect any difference between the Estimated Acquired Net Working Capital and the Final Acquired Net Working Capital (as determined in accordance with Section 1.6(b)), and (ii) Section 1.9 to reflect the Supplemental Reimbursement Adjustment.
If any Fees are not paid when due, then at Xxxxxx’ discretion, (a) such Fees may accrue late interest at the rate of 1.5% (18% per annum) of the outstanding balance per month, or the maximum rate permitted by law, whichever is lower, from the date such fee was due until the date paid, and/or (b)] Xxxxxx may suspend the Service, including all Customer access to the Service, pursuant to Section 16(b).