THE INTERIM PERIOD a. The length of the interim period shall be four years. However, it may be shortened or extended if need arises by recommendation from the Coordinating Council to the President of the Republic.
THE INTERIM PERIOD. The Company and the Sellers and the Company warrant that during the Interim Period:
THE INTERIM PERIOD. The Interim Period shall be the 180-day period that commences on the date of this Amendment during which PARA agrees to negotiate exclusively with Redeveloper toward the execution of a Redevelopment Agreement, which shall include all the terms and conditions, project description, schedules, and financial arrangements between PARA and Redeveloper. Such 180-day period may be extended by PARA in its sole discretion. At the conclusion of the Interim Period, or any time during the extension of such Period, PARA may, in its sole discretion, cease negotiations and cancel this Conditional Redeveloper Designation Agreement with Redeveloper, if PARA determines that a Redevelopment Agreement cannot be successfully negotiated and executed. In the event that this Agreement is cancelled by PARA, then neither party hereto shall be bound by any further obligations hereunder to the other, except as may exist under Paragraph 4(B) hereof.
THE INTERIM PERIOD. Conditional Redeveloper shall pay all Interim Costs (as defined below) incurred by the City during the time period commencing when the City reviewed the Conditional Redeveloper’s proposal to the time the City and Conditional Redeveloper enter into a Redevelopment Agreement or the time the City or the Conditional Redeveloper determines that a Redevelopment Agreement cannot be executed for any reason (hereinafter referred to as the “Interim Period”). Conditional Redeveloper shall pay all Interim Costs even if a Redevelopment Agreement cannot be executed for any reason.
THE INTERIM PERIOD. 6.1 It is hereby agreed that commencing from the date of signature of this agreement and until the Date of Closing (hereinafter: “the Interim Period”), the Sellers undertake that without the agreement of the Buyers in advance and in writing:
THE INTERIM PERIOD. 5.1 During the Interim Period, the Vendor shall:
THE INTERIM PERIOD. 10.1 The Seller undertakes to effect that during the Interim Period, the Company shall not adopt any resolution regarding payment of cash dividend or in kind or regarding allocation of any stock dividend, and also shall not pay in fact any cash dividend (except for a dividend that at the date of signing this Agreement was declared but not yet paid), shall not allocate any stock dividend except with the Purchaser's prior written approval, and shall not pay any management fees or any other payments to Interested Parties, except according to the agreements specified in ANNEX 4.10, will not engage in any transaction with an Interested Party and will not carry out any other activity which is not in the course of normal business. The Purchaser undertakes not to propose for a vote and / or will not support any resolution which is contrary to the foregoing.
THE INTERIM PERIOD. During the Interim Period, between the Signing Date and the Execution Date, the following provisions shall apply:
THE INTERIM PERIOD. 5.1 The Vendor shall make available to the Company by 13th October 1996 the sum of NIS 2,000,000 (two million new shekels) as an owners' loan linked to the index and bearing interest at 3% per annum. The said loan shall be assigned to the Purchaser on the closing date pursuant to clause 2.3.2 above.
THE INTERIM PERIOD. The Interim Period shall be the 180-day period that commences on the date of this Amendment during which PARA agrees to negotiate exclusively with Viridian toward the execution of a Redevelopment Agreement, which shall include all the terms and conditions, project description, schedules, and financial arrangements between PARA and Viridian Partners. Such 180-day period may be extended by PARA in its sole discretion. At the conclusion of the Interim Period, or any time during the extension of such Period, PARA may, in its sole discretion, cease negotiations and cancel this Conditional Redeveloper Designation Agreement with Viridian Partners, if PARA determines that a Redevelopment Agreement cannot be successfully negotiated and executed. In the event that this Agreement is cancelled by PARA, then neither party hereto shall be bound by any further obligations hereunder to the other, except as may exist under Paragraph 3(B) hereof.
