Recourse to Option I Article 7 of the Model Law Sample Clauses

Recourse to Option I Article 7 of the Model Law. The “in writing” require- ment’s wording and purpose does not in itself allow for operable criteria to determine the borderline in unclear cases. Further guidance can, however, be received from Option I Article 7 of the Model Law which stipulates in its paragraph 2 and defines in its paragraphs 3 to 6 an “in writing” requirement for arbitration agreements.253 Although the definitions in Option I Article 7 of the Model Law cannot be legally binding for defining Article II(2)’s “in writing” requirement, both contain stipulations on the same subject matter, pursue the same purpose,254 qualify as international legal instruments drafted by the same United Nations body and are based on a broad consensus amongst nations255. This close connection justifies falling back on the definitions provided by Option I Article 7 of the Model Law in the context of Article II(2) of the Convention as well.256 This approach, however, is limited by the wording’s broadest meaning (para. 113). The recourse to Option I Article 7 of the Model Law for a more detailed and operable understanding of Article II(2)’s “in writing” requirement follows from the provision’s autonomous interpretation. The 2006 UNCITRAL Recommendation (para. 111) does not determine but only confirms this interpretation. It therefore does no harm that the Working Group’s original plans to have the operative part of the Recommendation substantially modeled on the revised text of Article 7(2) of the Model Law could not prevail (para. 20). In addition, even the Recommendation’s drafting history does not entail a clear position: The Commission observed that the revised Article 7 of the Model Law would indicate that the written form require- ment contained in Article II(2) should be interpreted in a more liberal manner (para. 21). Finally, the Recommendation’s tenth recital explicitly refers to the revised Article 7 of the Model Law. This again evidences the proximity between both provisions.
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Related to Recourse to Option I Article 7 of the Model Law

  • Exercisability Schedule No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated so long as the Optionee remains an employee of the Company or a Subsidiary on such dates: Incremental Number of Option Shares Exercisable* Exercisability Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ * Max. of $100,000 per yr. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan.

  • Non-Assignability of Option The Option shall not be given, granted, sold, exchanged, transferred, pledged, assigned or ­otherwise encumbered or disposed of by Optionee, excepting by Will or the laws of descent and distribution, and, during the lifetime of Optionee, shall not be exercisable by any other person, but only by Optionee.

  • Conditions to Obligation of Each Party to Effect the Merger The respective obligations of each party to effect the Merger shall be subject to the satisfaction at or prior to the Effective Time of the following conditions:

  • CONDITIONS FOR EMERGENCY/HURRICANE OR DISASTER - TERM CONTRACTS It is hereby made a part of this Invitation for Bids that before, during and after a public emergency, disaster, hurricane, flood, or other acts of God that Orange County shall require a “first priority” basis for goods and services. It is vital and imperative that the majority of citizens are protected from any emergency situation which threatens public health and safety, as determined by the County. Contractor agrees to rent/sell/lease all goods and services to the County or other governmental entities as opposed to a private citizen, on a first priority basis. The County expects to pay contractual prices for all goods or services required during an emergency situation. Contractor shall furnish a twenty-four (24) hour phone number in the event of such an emergency.

  • NONTRANSFERABILITY OF THE OPTION The Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee's guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Optionee, the Option, to the extent provided in Section 7, may be exercised by the Optionee's legal representative or by any person empowered to do so under the deceased Optionee's will or under the then applicable laws of descent and distribution.

  • Conditions to Obligations of Each Party to Effect the Merger The respective obligations of each party to this Agreement to effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of the following conditions:

  • Non-Transferability of Option This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

  • Fundamental Lease Provisions Certain fundamental Lease provisions are presented in this Section in summary form solely to facilitate convenient reference by the parties hereto:

  • Termination Prior to Maturity Date; Survival All covenants, representations and warranties made in this Agreement shall continue in full force until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, and any other obligations which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Those obligations that are expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination.

  • GEOGRAPHIC AREA AND SECTOR SPECIFIC ALLOWANCES, CONDITIONS AND EXCEPTIONS The following allowances and conditions shall apply where relevant: Where the company does work which falls under the following headings, the company agrees to pay and observe the relevant respective conditions and/or exceptions set out below in each case.

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