THIL definition
Examples of THIL in a sentence
THIL shall cause JVC to pay to Cartesian or PLK (as the case may be) the full amount of Indemnifiable Taxes claimed under this Section 3(a) (such amount to be grossed up to include all Taxes, interest and penalties arising thereon) on or before the date which is thirty (30) days after written demand is made therefor.
Within nine (9) months after the consummation date of the Transaction, THIL shall cause JVC to (a) form and incorporate a limited liability company under the laws of the PRC (the “China Opco”) directly and wholly owned by Master Franchisee in a form reasonably satisfactory to each of the Investor and PLK and (b) provide Cartesian and PLK with reasonably satisfactory written materials evidencing the formation of the China Opco.
Upon expiration or termination of this Agreement for any reason, Fusion shall retain use of the network and will compensate THIL for its investments in the Venture to the extent that such investment has not been recovered by THIL pursuant to the amortization provisions of Clause 4(5)(b)(v).
THIL represents and warrants to Fusion that it is familiar with the U.S. Foreign Corrupt Practices Act, as amended, and the regulations adopted thereunder ("the Act"), and that THIL will conduct all of its activities so as to enable Fusion and its personnel to remain in full compliance with such Act and regulations.
Fusion and THIL agree that each will not violate such Act directly or indirectly.
This Agreement and Fusion's relationship with THIL may be terminated by Fusion if either party believes in good faith that there has been a violation of such Act.
THIL shall under no circumstances be liable for any breach by Fusion of the said agreement which is substantially attributable to Fusion.
The Parties agree that if 40% or 50% (with reference to (2) above), as the case may be, of the total cost of the Venture equals more than US$300,000, then unless THIL pursuant to this clause exercises its right to increase the amount of its investment, the share of THIL in the Venture will be reduced accordingly.
The salvage value of any left over equipment shall be agreed by the Parties and THIL shall be paid a percentage equal to its share in the Venture of the agreed salvage value.
In such case, the share of THIL in investment and profits of the Venture shall be increased accordingly and the shares of THIL responsibilities pursuant to (2) above and after provision of THIL agreement shall be increased from 40% to 50%.