WECL definition
Examples of WECL in a sentence
This Agreement, duly executed and delivered by a Responsible Officer of the Company, together with Elections to Participate, duly executed and delivered by a Responsible Officer of WECL, WEI, WESCO, WII and WUSA respectively.
Each of WECL, WEI, WESCO, WII and WUSA is a wholly- owned Subsidiary of WGI.
The WECL Guaranty, duly executed and delivered by a Responsible Officer of WECL.
If a court of competent jurisdiction determines that the incurrence of liability by WECL for a particular Obligation whether under this Agreement or under the WECL Guaranty violates the Prohibition, then WECL shall not be liable for such Obligation.
The sole intention of this Section 12.20 is to ensure that WECL does not contravene the prohibition with respect to financial assistance in the Business Corporation Act (Ontario) by assuming impermissible levels of joint liability with the other Borrowers (the "Prohibition").