LEGAL INTENT Sample Clauses

LEGAL INTENT. The Parties intend to be legally bound by this Agreement and agree that this Agreement contains the necessary material items to be considered a contract.
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LEGAL INTENT. In legal terms of art, Company and Contractor intend Section 5.4.1 (What Company May Do) to appoint Company as Contractor's "attorney in fact with full right of substitution" to act on Contractor's behalf under Section 5.3 (
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LEGAL INTENT. In legal terms of art, Company and Developer intend Section 6(g)(ii)(C)(I) (What Company May Do) to appoint Company as Developer’s “attorney in fact with full right of substitution” to act on Developer’s behalf under Section 6(g)(ii)(B) (Further Steps).
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LEGAL INTENT. The parties intend to be legally bound by this Agreement and agree that this Agreement contains the necessary material items to be considered a contract. This Agreement is entered into this 17th day of February, 1999. COTTON COMMUNICATIONS, INC. ABLE TELCOM HOLDING CORP. By: /s/ XXXXX XXXXX By: /s/ XXXXX X. XXX -------------------------------- ------------------------------ Name: Xxxxx Xxxxx Name: Xxxxx X. Xxx Title: President Title: President & CEO EXHIBIT A Note EXHIBIT B Stock Purchase Agreement EXHIBIT C Stock Purchase Agreement EXHIBIT D Letter Agreement EXHIBIT E Letter Agreement EXHIBIT F Stock Pledge Agreement
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LEGAL INTENT. The parties intend to be legally bound by this Agreement and agree that this Agreement contains the necessary material items to be considered a contract. This Agreement is entered into this 16th day of February, 1999. WORLDCOM NETWORK SERVICES ABLE TELCOM HOLDING CORP. INC.
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LEGAL INTENT. This is the intention of the parties that their agreement should have legal consequences. Indeed, there would be no contract if, for example, they were merely joking when they made the agreement. This is supported by a case decided in 1605 (Weeks v. Xxxxxx) when a man joked that he would pay money to any man who would marry his daughter. In establishing legal intent the courts examine what the parties actually said and did (an objective test) rather than what they intended to say or do (a subjective test), because otherwise people who appear to have agreed to certain terms may try to escape liability by claiming that they had no 'real' intention to agree to them. In business agreements which contain all the essential elements, legal intent is presumed by law. If, however, one party states that the agreement is 'binding in honour only', then the legal intent has been specifically removed, and the agreement becomes void. In domestic and social arrangements the presumption is the opposite: the court will presume the absence of legal intent. For example, if a father promises his son £5 a week for walking the dog and then refuses to pay, even though the son has fulfilled his side of the agreement, there will be no breach of contract since no contract exists because of the absence of legal intent. However, domestic agreements between spouses who are separated or are in business together are enforceable. Gaming and wagering contracts used to be null and void because the law presumed the absence of legal intent; parties could not sue on the contract nor recover money or property transferred. Since the passing of the Gambling Act 2005 such contracts can be enforced.
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Related to LEGAL INTENT

  • General Intent Subject to the specific provisions and limitations of this Article 18, it is the intent of the Parties that each Party shall be liable to the other Party for any actual damages incurred by the non-breaching Party as a result of the breaching Party’s failure to perform its obligations in the manner required by this Agreement.

  • No Contract of Employment Intended Nothing in this Agreement shall confer upon the Award Recipient any right to continue in the employment of the Company, or to interfere in any way with the right of the Company to terminate the Award Recipient’s employment relationship with the Company at any time.

  • Expenses of Company Registration The Company shall bear and pay all expenses incurred in connection with any registration, filing or qualification of Registrable Securities with respect to the registrations pursuant to Section 3 for each Holder, including without limitation all registration, filing and qualification fees, printers' and accounting fees relating or apportionable thereto and the fees and disbursements of one counsel for the selling Holders (selected by the Holders of a majority of the Registrable Securities being registered), but excluding underwriting discounts and commissions relating to Registrable Securities.

  • MATERIAL INTERESTS The Local Manager and any of its affiliates (an “Affiliate”) may, subject to the limitations of the U.S. Investment Company Act of 1940, as amended, and to the overriding principles of suitability and best execution and without prior reference to the Investment Adviser, effect transactions in which the Local Manager or Affiliate has, directly or indirectly, a material interest or a relationship of any description with another party, which may involve a potential conflict with the Local Manager’s duty to the Investment Adviser. Neither the Local Manager nor any Affiliate shall be liable to account to the Investment Adviser for any profit, commission or remuneration made or received from or by reason of such transactions or any connected transactions nor will the Local Manager’s fees, unless otherwise provided, be abated. For example, such potential conflicting interests or duties may arise because: · any of the Local Manager’s or Affiliate’s directors or employees is a director of, holds or deals in securities of, or is otherwise interested in any company whose securities are held or dealt in on behalf of the Investment Adviser; · the transaction is in the securities of a company for which an Affiliate has provided corporate finance advice, underwritten, managed or arranged an issue or offer for sale; · the Local Manager may act as agent for the Investment Adviser in relation to transactions in which it is also acting as agent for the account of other clients and/or an Affiliate; · the transaction is in units or shares of a collective investment scheme (regulated or unregulated) of which the Local Manager or any Affiliate is the manager, operator, banker, adviser, custodian or trustee; or · The Local Manager may act as agent for a counterparty and also act as agent on behalf of the Investment Adviser and in the course of so acting may charge a commission to either the counterparty or the Investment Adviser. Nothing in the Agreement shall oblige the Local Manager or any Affiliate to accept responsibilities more extensive than those set out in the Agreement or shall give rise to any fiduciary or equitable duties which would prevent or hinder either: (i) the Local Manager or any Affiliate performing investment management or other services for any person or entity other than the Investment Adviser or from making investments on their own behalf and the performance of such services for others or investment on their own behalf will not be deemed to violate or give rise to any duty or obligation to the Investment Adviser; or (ii) the Local Manager effecting any transaction with or for the Investment Adviser with an Affiliate; or (iii) such Affiliate acting both as market-maker and broker, principal or agent, dealing with other Affiliates and other clients and generally effecting transactions as provided above nor from retaining any remuneration received in respect thereof.

  • Area of Mutual Interest The “ Xxxxxx Well #1” leases and any new lease to be acquired under this agreement, identified within the legal descriptions above, shall be designated as an Area of Mutual Interest (“AMI”) which shall expire on the termination of this Agreement. If any party hereunder acquires any interest within the AMI, the acquiring party will notify the non-acquiring party in writing of the terms of the acquisition and any costs and/or obligations incurred pursuant thereto within fifteen (15) days following the acquisition. The non-acquiring party will elect in writing within thirty (30) days from its receipt of such notice, as to its election to participate or not participate with its proportionate share of the acquisition. Each non-acquiring party’s election to participate will be accompanied by payment of its share of costs associated with the acquisition. If the non-acquiring party elects not to participate with its proportionate share of the acquisition, the acquiring party may retain the interest for its own benefit. The non-acquiring party’s failure to respond and make payment within the designated time frame shall be deemed an election not to participate in the acquisition. If the interest acquired covers lands lying partially inside and partially outside the boundaries of the AMI, the acquiring party shall offer the entirety of such interest to the non-acquiring party. If a non-acquiring party acquires its proportionate share of such interest, the lands lying outside the AMI and covered by the interest acquired, shall become a part of the “ Xxxxxx Well # 1” Lease and any new lease to be acquired subject to this Agreement and the AMI shall be enlarged to include said lands. Each lease, right, title or interest acquired under the terms of this AMI shall be subject solely to the burdens specified in this agreement and shall include specifically the carried working Interest specified in herein above. The prospect needs to be evaluated by Purchaser’s verification efforts with the understanding that a certain amount of risk is involved in the search and joint venture of oil production in this field despite third party geological reports and efforts by Seller to determine that there are economic quantities of oil to be produced from the “Xxxxxx Lease” lease or any new lease to be acquired under this agreement. Seller does not normally deal with individuals or companies who are not other oil companies or experienced service contractors or sophisticated investors, and it is understood all parties have experience in the oil and gas industry or understand the risks associated with doing business within that industry. Seller acquired the property but has no first-hand experience and was relying on the Operator to finalize the start-up and maintain the property, sell was acquired for investment property.

  • Statement of Intent The Agent and each Noteholder intend that the Notes be classified and maintained as a grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will not take any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create a partnership, joint venture, “taxable mortgage pool” or association taxable as a corporation among the parties.

  • No Contract of Employment Nothing contained in this Agreement will be construed as a right of the Executive to be continued in the employment of the Company, or as a limitation of the right of the Company to discharge the Executive with or without Cause.

  • Registered Intellectual Property All rights in respect of that -------------------------------- registered Intellectual Property set forth on Schedule 2.8 and any applications therefor (collectively the "Contributed Registered ---------------------- Intellectual Property") and any remedies against any and all past, --------------------- present and future infringements thereof and rights to protection of interest therein.

  • Investment Intent Buyer is acquiring the Shares for its own account and not with a view to their distribution within the meaning of Section 2(11) of the Securities Act.

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