CLAUSE SIXTEEN Sample Clauses

CLAUSE SIXTEEN. CONFIDENTIALITY
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CLAUSE SIXTEEN. Permits. The Offerers hereby confer sufficient power of attorney to LUMINA and its representative, Xx. Xxxx Xxxxxx Selters, in order that in the name of the Offerers they are empowered to process and obtain to their exclusive cost and charge the permits that in compliance with the legal provisions or because they are necessary to undertake explorations they should apply for, whether according to the mining, environmental or any other legislation. The Offerers specially confer power to request the change of use of the soil and to process mining easements. In the event the purchase option is rendered effective, all the rights and obligations corresponding to the Offerers by reason of the permits shall be acquired free of cost by LUMINA from the moment the acceptance deed is executed.
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CLAUSE SIXTEEN. TRUSTEE LIABILITY It is expressively agreed that the TRUSTEE will be held liable for any obligations arising from the performance under the Trust solely to the extent of the Trust Corpus. The TRUSTEE should incorporate this stipulation in any documents and agreements it sign in fulfillment of the Trust The TRUSTEE shall be held free of any liability arising from any acts it performs in fulfillment of instructions it receives from the Technical Committee and it shall not be obligated to fulfill those instructions if these contravene the law or the purposes of this Trust. Moreover, it is agreed that the TRUSTEE shall not be held liable in any way whatsoever if it fails to underwrite SHARES or CEMEX.CPO under the exercise of the corporate or monetary rights therein because it was not furnished with the necessary funds for this purpose in a timely manner, or it fails to fulfill the rights inherent in the OPTIONS, as specified in the instructions. [three signatures to right] If it proves necessary to do something on an urgent basis in order to fulfill the purpose of the Trust and the failure to do so could patently damage the Trust Corpus, if it is not possible to convene the Technical Committee, the TRUSTEE may, as an exception, act in its discretion, always acting pursuant to good banking practices. The TRUSTORS have no rights whatsoever with regard to the Trust Corpus and as far as the Trust Corpus is concerned, the Secondary Beneficiaries will only have the rights that are expressly vested in them pursuant to the terms hereof and no rights exist or are created for anyone at all other than the Secondary Beneficiaries, as set forth in Articles 386 and 390 of the General Law on Negotiable Instruments and Credit Operations. CLAUSE SEVENTEEN: THIRD PARTY ACTS The TRUSTEE shall not be held liable to the Trustors or Beneficiaries in any way for the deeds or acts of third parties or the authorities, that prevent or hinder the purposes of this Trust from being achieved, nor for acting pursuant to any instructions it receives from the Technical Committee.
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CLAUSE SIXTEEN. The courts of Lisbon shall be exclusively competent for the decision of any dispute that may arise from the present lease agreement. The parties hereby renounce the competence of any other court of law. Made in Lisbon, in 26 September 2006, in two copies of the same legal value, each party keeping one copy. For the LAND LORD Xxxx Xxxxxx Xxxxx Xxxxxx Xxxxxx Xxxxxxxx Xxxxxxx Xxxxxxxxx For the TENANT Xxxxxx Xxxxxxx Marques Xxxxx Xxxxxxxxx Xxxxx (Stamp duty in the amount of € 5.00, according to point 8 of the General Table of the Stamp Duty, which is a Schedule to the Code of the Stamp Duty, and to articles 1 and 2 of the Law no. 150/99, of 11 September).
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CLAUSE SIXTEEN. The CONCESSION HOLDER undertakes to obtain the electricity required by its consumers for the lowest effective cost among the alternatives available. In the application of adjustments and reviews provided for in this Clause, the limits for pass-through to tariffs of the prices freely negotiated in the acquisition of electricity, as established in an XXXXX resolution and the legislation in force, shall be obeyed.
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CLAUSE SIXTEEN. ASSIGNMENTS. The Debtor may not assign and/or transfer this Agreement or the Promissory Notes, as well as the other rights or obligations arising from the other Loan Documents, without the prior written consent of the Creditor. The Creditor may assign and/or transfer the rights and loans emerging from this Agreement and the Promissory Notes, in favor of one or more banks or financial institutions, at no cost to the Debtor, and with prior consent: from the latter who may not unreasonably deny it, except if an Event of Default has occurred and remains in force, in which case prior notice will not be required and the Debtor undertakes to assume all the costs and new taxes derived from said assignment, with the assignee having to assume each and every one of the obligations indicated in this Agreement. CLAUSE SEVENTEEN:
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CLAUSE SIXTEEN. Annual Programs and Budgets Presentation to ANP
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CLAUSE SIXTEEN. JURISDICTION.
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CLAUSE SIXTEEN. PUBLICATION
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Related to CLAUSE SIXTEEN

  • Cross Default and Cross Collateralization (a) Cross-Default. As stated under Section 10.1 hereof, an Event of Default under any of the Affiliated Financing Documents shall be an Event of Default under this Agreement. In addition, a Default or Event of Default under any of the Financing Documents shall be a Default under the Affiliated Financing Documents.

  • Clauses In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context otherwise requires, a reference to a Clause or a Schedule to this Agreement.

  • Cross-Default; Cross-Collateralization (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Borrower agrees that each of the Loan Documents (including, without limitation, the Security Instruments) are and will be cross collateralized and cross defaulted with each other so that (i) an Event of Default under any of Loan Documents shall constitute an Event of Default under each of the other Loan Documents; (ii) an Event of Default hereunder shall constitute an Event of Default under each Security Instrument; (iii) each Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note; and (iv) such cross collateralization shall in no event be deemed to constitute a fraudulent conveyance and Borrower waives any claims related thereto.

  • Limitation on Additional Indebtedness The Company shall not, and shall not permit any Restricted Subsidiary or Restricted Affiliate to, directly or indirectly, create, incur, assume, issue, guarantee or in any manner become directly or indirectly liable for or with respect to, contingently or otherwise, the payment of (collectively to "incur") any Indebtedness (including any Acquired Indebtedness), except for Permitted Indebtedness; provided, that (A)(i) the Company will be permitted to incur Indebtedness (including Acquired Indebtedness and Buildout Indebtedness) and (ii) a Restricted Subsidiary or Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, in either case, immediately after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), either (X) the ratio of Total Consolidated Indebtedness to Consolidated Pro Forma Operating Cash Flow would not be greater than or equal to 5.5 to 1.0 if such Indebtedness is incurred prior to October 15, 2000 or 5.0 to 1.0 if such Indebtedness is incurred on or after October 15, 2000 or (Y) the ratio of Total Consolidated Indebtedness to Total Invested Equity Capital would not exceed 2.0 to 1.0 and (B) on or after October 15, 2002, a Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), the ratio of Total Affiliate Indebtedness to Affiliate Pro Forma Operating Cash Flow of such Restricted Affiliate would not be greater than or equal to 4.0 to 1.0. For purposes of determining compliance with this Section 10.11, in the event that an item of Indebtedness meets the criteria of more than one of the types of Indebtedness permitted by this covenant, the Company in its sole discretion shall classify such item of Indebtedness and only be required to include the amount of such Indebtedness as one of such types.

  • Section 601 Certain Duties and Responsibilities...................................................... 29

  • Default on Senior Indebtedness The Company may not pay the principal of, or premium, if any, or interest on, the Subordinated Securities or make any deposit in trust under Article IV or XIII and may not repurchase, redeem or otherwise retire (except, in the case of Subordinated Securities that provide for a mandatory sinking fund pursuant to Article XII by the delivery of Subordinated Securities by the Company to the Trustee pursuant to Section 12.03) any Securities (collectively, “pay the Subordinated Securities”) if any principal, premium or interest or other amount payable in respect of Senior Indebtedness is not paid within any applicable grace period (including at maturity) or any other default on Senior Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its terms unless, in either case, the default has been cured or waived and any such acceleration has been rescinded or such Senior Indebtedness has been paid in full in cash; provided, however, that the Company may make payments on the Subordinated Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of each issue of Designated Senior Indebtedness. During the continuance of any default (other than a default described in the preceding sentence) with respect to any Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not make payments on the Subordinated Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Company and the Trustee of written notice of such default from the Representative of any Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, by repayment in full in cash of such Designated Senior Indebtedness or because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 14.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Subordinated Securities after such Payment Blockage Period. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to any number of issues of Senior Indebtedness during such period. For purposes of this Section 14.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

  • Default on Senior Debt The Guarantor may not make any payment with respect to the Guaranteed Obligations or make any deposit pursuant to Section 8.01 of the Indenture and may not repurchase, redeem or otherwise retire any Securities (collectively, "pay the Guaranteed Obligations") if (i) any Senior Debt is not paid when due or (ii) any other default on Senior Debt occurs and the maturity of such Senior Debt is accelerated in accordance with its terms unless, in either case, (x) the default has been cured or waived and any such acceleration has been rescinded or (y) such Senior Debt has been paid in full. During the continuance of any default (other than a default described in clause (i) or (ii) of the preceding sentence) with respect to any Senior Debt pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Guarantor may not pay the Guaranteed Obligations for a period (a "Payment Blockage Period") commencing upon the receipt by the Company, the Guarantor and the Trustee of written notice (a "Payment Blockage Notice") of such default from the Representative (as defined below) of such Senior Debt specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee, the Guarantor and the Company from the Representative which gave such Payment Blockage Notice, (ii) by repayment in full of such Senior Debt or (iii) because the default specified in such Payment Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section), unless the holders of such Senior Debt or the Representative of such holders shall have accelerated the maturity of such Senior Debt, the Guarantor may resume payments (including any missed payments) with respect to the Guaranteed Obligations after the termination of such Payment Blockage Period. Not more than one Payment Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Senior Debt during such period; provided, however, that if any Payment Blockage Notice within such 360-day period is given by or on behalf of any holders of any Senior Debt (other than Bank Debt) (the "Initial Payment Blockage Notice"), the Representative of the Bank Debt may give another Payment Blockage Notice within such period; provided further, however, that in no event may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period.

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