Examples of Settlement Arrangement in a sentence
For purposes of this Net Settlement Arrangement (defined below), Crude Contracts shall not include Contracts in the nature of division orders.
If any invoice or portion of an invoice is disputed in good faith or cannot be timely verified and approved for payment, such invoice shall not be held for payment under the Net Settlement Arrangement, but shall be settled independently as soon as verified or as soon as any dispute is resolved, provided that an invoice that is partially verified or disputed shall be included in the Net Settlement Arrangement to the extent that it is verified or undisputed.
Notwithstanding the foregoing, each party agrees to use every reasonable effort to achieve the objective of timely verification of invoices in order to permit payment of such invoices pursuant to the terms of this Contract in the month following the Transaction Month and no dispute or lack of verification shall excuse participation in the Net Settlement Arrangement.
For purposes of this Net Settlement Arrangement (defined below), Agreements shall not include contracts in the nature of division orders.
Neither the Settlement Agreement nor the Settlement Arrangement contemplated thereunder purports to renew the Framework Services Agreement or to effectuate a material change to its terms, therefore the Company is not required to re-comply with the announcement and shareholders’ approval requirements pursuant to Rule 14A.54 of the Listing Rules.
The Settlement Arrangement contemplated under the Settlement Agreement is for the purpose of settlement of the FSA Loans that constitute Transactions contemplated under the Framework Services Agreement within the Annual Caps.
In addition, as Oceanwide Holdings is a connected person of the Company, the Shareholder Loan as a result of the Settlement Arrangement constitutes a connected transaction for the Company under Chapter 14A of the Listing Rules.
If any invoice or portion of an invoice is disputed in good faith or cannot be timely verified and approved for payment, such invoice or portion of such invoice shall not be held for payment under the Net Settlement Arrangement, provided that an invoice that is partially verified or disputed shall be included in the Net Settlement Arrangement to the extent that it is verified or undisputed.
Notwithstanding the foregoing, each party agrees to use every reasonable effort to achieve the objective of timely verification of invoices in order to permit payment of such invoices pursuant to the terms of this Agreement in the month following the Transaction Month and no dispute or lack of verification shall excuse participation in the Net Settlement Arrangement.
The Board is of the opinion that the Settlement Arrangement will reduce the interest costs borne by the Company, which will in turn improve the performance of the Company.