ACKNOWLEDGMENT OF DEBT; GOVERNING LAW Sample Clauses

ACKNOWLEDGMENT OF DEBT; GOVERNING LAW. (a) The Shipowner hereby acknowledges that pursuant to its Guarantee, it is justly indebted (i) pursuant to its Guarantee to the Holders of the Notes in the principal amount of up to One Hundred Million United States Dollars (U.S. $100,000,000) and (ii) pursuant to its Working Capital Guarantee to the Working Capital Facility Provider in the principal amount of up to $7,000,000 and will pay or cause to be paid the Indebtedness hereby secured. The Shipowner will observe, perform and comply with the covenants, terms and conditions herein, express or implied, on its part to be observed, performed or complied with. (b) This Deed and the Mortgage are intended to be a first preferred mortgage under the laws of the Commonwealth of Bahamas ("Bahamian law") and as such shall be governed by Bahamian law. However, in the event of any conflict between the substantive provisions of this Deed and the Mortgage on the one hand and the Indenture on the other, the terms of the Indenture shall prevail, provided they are consistent with Bahamian law.
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ACKNOWLEDGMENT OF DEBT; GOVERNING LAW. (a) The Shipowner hereby acknowledges that pursuant to its Guarantee, it is justly indebted (i) pursuant to its Guarantee to the Holders of the Notes in the principal amount of up to One Hundred Million United States Dollars (U.S. $100,000,000) and (ii) pursuant to its Working Capital Guarantee to the Working Capital Facility Provider in the principal amount of up to $7,000,000, which is the principal amount secured by this Mortgage, and will pay or cause to be paid the Indebtedness hereby secured. The Shipowner will observe, perform and comply with the covenants, terms and conditions herein, express or implied, on its part to be observed, performed or complied with. (b) This Mortgage is intended to be a first preferred naval mortgage under Panamanian law and as such shall be governed by Panamanian law. However, in the event of any conflict between the substantive provisions of this Mortgage and the Indenture, the terms of the Indenture shall prevail, provided they are consistent with Panamanian law.
ACKNOWLEDGMENT OF DEBT; GOVERNING LAW. (a) The Shipowner hereby acknowledges that pursuant to its Guarantee, it is justly indebted (i) pursuant to its Guarantee to the Holders of the Notes in the principal amount of up to One Hundred Million United States Dollars (U.S. $100,000,000) and (ii) pursuant to its Working Capital Guarantee to the Working Capital Facility Provider in the principal amount of up to $7,000,000 and will pay or cause to be paid the Indebtedness hereby secured. The Shipowner will observe, perform and comply with the covenants, terms and conditions herein, express or implied, on its part to be observed, performed or complied with. (b) This Mortgage is intended to be a first preferred mortgage under Liberian law and as such shall be governed by Liberian law. However, in the event of any conflict between the substantive provisions of this Mortgage and the Indenture, the terms of the Indenture shall prevail, provided they are consistent with Liberian law.

Related to ACKNOWLEDGMENT OF DEBT; GOVERNING LAW

  • Assignment; Governing Law This Guarantee shall inure to the benefit of the Trust and its successors, assigns and pledgees. This Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York without regard to conflict of law principles.

  • Acknowledgment of Obligations I acknowledge that my obligations under this Agreement are in addition to, and do not limit, any and all obligations concerning the same subject matter arising under any applicable law including, without limitation, common law duties of loyalty and common law and statutory law relating to trade secrets.

  • Acknowledgment of Perfection of Security Interest Each Loan Party hereby acknowledges that, as of the date hereof, the security interests and liens granted to the Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit Agreement and the other Loan Documents.

  • Acknowledgment and Waiver The following provisions supplement Section 14 of the Grant Agreement: The Employee acknowledges that he or she consents to participation in the Plan and has received a copy of the Plan. The Employee understands that the Company has unilaterally, gratuitously and discretionally decided to grant RSUs under the Plan to individuals who may be employees of the Company or its Subsidiaries or Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its Subsidiaries or Affiliates on an ongoing basis except as provided in the Plan. Consequently, the Employee understands that the RSUs are granted on the assumption and condition that the RSUs or the Shares acquired upon vesting shall not become a part of any employment contract (either with the Company or any of its Subsidiaries or Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, the Employee understands that this grant would not be made to the Employee but for the assumptions and conditions referred to above; thus, the Employee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the RSUs shall be null and void. The RSUs are a conditional right to Shares and can be forfeited in the case of, or affected by, the Employee's termination of service or employment. This will be the case, for example, even if (1) the Employee is considered to be unfairly dismissed without good cause; (2) the Employee is dismissed for disciplinary or objective reasons or due to a collective dismissal; (3) the Employee terminates employment or service due to a change of work location, duties or any other employment or contractual condition; (4) the Employee terminates employment or service due to unilateral breach of contract of the Company, the Employer, or any other Subsidiary or Affiliate; or (5) the Employee's employment or service terminates for any other reason whatsoever, except for reasons specified in the Grant Agreement. Consequently, upon termination of the Employee's employment or service for any of the reasons set forth above, the Employee may automatically lose any rights to the unvested RSUs granted to him or her as of the date of the Employee's termination of employment, as described in the Plan and the Grant Agreement.

  • Agreement to Governing Law and Jurisdiction Each party agrees to the applicable governing law above without regard to choice or conflicts of law rules, and to the exclusive jurisdiction of the applicable courts above.

  • Waivers; Amendment; Joinder Agreements (a) No failure or delay on the part of any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective unless the same shall be permitted by Section 5.02(b), and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any party hereto in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. (b) Neither this Agreement nor any provision hereof may be terminated, waived, amended or modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Authorized Representative and each Collateral Agent (and with respect to any such termination, waiver, amendment or modification which by the terms of this Agreement requires the Company’s consent or which increases the obligations or reduces the rights of the Company or any other Grantor, with the consent of the Company). (c) Notwithstanding the foregoing, without the consent of any First-Lien Secured Party, any Authorized Representative may become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 5.13 and upon such execution and delivery, such Authorized Representative and the Additional First-Lien Secured Parties and Additional First-Lien Obligations of the Series for which such Authorized Representative is acting shall be subject to the terms hereof and the terms of the Additional First-Lien Security Documents applicable thereto. (d) Notwithstanding the foregoing, without the consent of any other Authorized Representative or First-Lien Secured Party, the Collateral Agents may effect amendments and modifications to this Agreement to the extent necessary to reflect any incurrence of any Additional First-Lien Obligations in compliance with the Credit Agreement and the other Secured Credit Documents.

  • VENUE AND GOVERNING LAW The laws of the State of California shall govern the terms and conditions of this contract with venue in the County where the LEA is located.

  • JURY TRIAL WAIVER; OTHER WAIVERS AND CONSENTS; GOVERNING LAW 11.1 Governing Law; Choice of Forum; Service of Process;

  • Counterparts; Governing Law This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. It shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflict of laws.

  • Governing Law; Attornment This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein and the Guarantor hereby irrevocably attorns to the jurisdiction of the courts of Ontario.

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