Additional Mutual Covenants Sample Clauses
The "Additional Mutual Covenants" clause sets out further promises or obligations that both parties agree to uphold beyond the main terms of the agreement. These covenants often address ongoing responsibilities such as confidentiality, cooperation, compliance with laws, or other shared duties that are essential for the smooth execution of the contract. By clearly outlining these mutual commitments, the clause helps ensure both parties understand and fulfill their continuing obligations, thereby reducing the risk of misunderstandings or disputes during the contractual relationship.
Additional Mutual Covenants. The following stipulations and agreements are expressly understood by both the LANDLORD and the TENANT and they do hereby agree to abide by them:
A. That upon the breach of any of the covenants, conditions and stipulations herein contained to be kept and performed by the TENANT, the LANDLORD may immediately without notice and without the necessity of legal process re-enter said premises, and thereupon, at the LANDLORD'S option, said lease shall forthwith be terminated and/or the LANDLORD may exercise any of the options herein provided for the LANDLORD'S benefit in case of default on the part of the TENANT.
Additional Mutual Covenants. The following stipulations and agreements are expressly understood by both the Lessor and the Lessee and they do hereby agree to abide by them:
a. That upon the breach of any of the covenants, conditions and stipulations herein contained to be kept and performed by the Lessee, the Lessor may immediately without notice and without the necessity of legal process, re-enter said Premises, and thereupon, at the Lessor's option, said Lease shall forthwith be terminated and/or the Lessor may exercise any of the options herein before provided for the Lessor's benefit in case of default on the part of the Lessee.
b. That in the event improvements on the Demised Premises shall be partially damaged by fire or other casualty but not rendered untenantable, the same shall be repaired with due diligence by the Lessor and at its expense. If the Demised Premises shall be damaged by fire, the elements or unavoidable casualty, leaving not less than 60% of the Leased floor space usable for Lessee's purposes and rendering the Premises unfit for occupancy the Lessor shall, within sixty (60) days after said damage, advise the Lessee of its intention to rebuild the Premises. Provided that the Lessor elects to rebuild the Premises, the Lessor shall proceed with such construction and complete same with all reasonable diligence. In the event the Lessor elects not to reconstruct, then and in that event, the Lease shall be deemed terminated as of the date of ▇▇▇▇▇▇'s removal provided that the Lessee removes itself from the Premises within thirty (30) days of the date of said election. In the event of said damage, but rendering the Premises not more than 25% untenantable by the Lessee, the rent provided for herein shall not be abated. If said Premises are rendered more than 25% untenantable, then and in that event, the rent during the period that the Premises are in said condition shall be reduced in direct proportion to that portion of the Premises which is in fact untenantable.
c. That the covenants and agreements contained in this Lease are interdependent and are binding on the parties hereto, their successors and assigns. This Lease has been prepared in several counterparts, each of which said counterpart, when executed, shall be deemed to be an original hereof.
d. That if the Lessee shall not pay the rents herein reserved at the time and in the manner stated, or shall fail to keep and perform any other condition, stipulation or agreement herein contained on the part of the Lessee ...
Additional Mutual Covenants. Each of Stem Cell, Acquisitionco and Trillium, as applicable, will perform all obligations required to be performed by it under this Agreement and, in connection therewith, use commercially reasonable efforts to do such acts or things as may be necessary in order to consummate and make effective the Transaction on the terms and subject to the conditions set out herein. Each of such parties covenants and agrees that, subject to the terms and conditions set out herein:
Additional Mutual Covenants. In addition to any covenants made by each Party elsewhere in this Agreement, each Party hereby covenants to the other as follows:
(a) Each Party will not knowingly, during the Term, employ or use the services of any person who is debarred or disqualified by any Regulatory Authority in connection with activities relating to the Ingredients or the Products; and in the event that one Party becomes aware of the debarment or disqualification or threatened debarment or disqualification by any Regulatory Authority of any person providing services to such Party with respect to any activities relating to the Ingredients or the Products, such Party will immediately notify the other Party in writing and will cease employing, contracting with, or retaining any such person to perform any services relating to the Ingredients or the Products;
(b) Each Party will not, in connection with the performance of its obligations under this Agreement, directly or indirectly through Third Parties, pay, promise or offer to pay, or authorize the payment of, any money or give any promise or offer to give, or authorize the giving of anything of value to a public official or entity or other person for purpose of obtaining or retaining business for or with, or directing business to, any person, nor will such Party directly or indirectly promise, offer or provide any corrupt payment, gratuity, emolument, bribe, kickback, illicit gift or hospitality or other illegal or unethical benefit to a public official or entity or any other person in connection with the performance of such Party’s obligations under this Agreement;
(c) Each Party has in place an anti-corruption and anti-bribery policy and in connection with the performance of its obligations under this Agreement, each Party shall comply and shall cause its and its Affiliates’ employees to comply with such Party’s policy;
(d) Each Party shall, and shall ensure that its Affiliates, Sublicensees and Subcontractors and its and their respective employees and contractors will, not cause the other Party to be in violation of the FCPA, Export Control Laws, or any other Applicable Laws, including any other applicable anti-corruption and anti-bribery laws, in connection with the performance of obligations under this Agreement; and
(e) Each Party shall immediately notify the other Party if it has any information or suspicion that there may be a violation of the FCPA, Export Control Laws, or any other Applicable Laws, including any other applicab...
Additional Mutual Covenants. Each Party also covenants that:
(i) When acting as PROVIDING PARTY, it will provide the Corporate Services and Transition Assistance in accordance with this Agreement;
(ii) Each of the PROVIDING PARTY and the RECEIVING PARTY in performing their obligations and otherwise acting hereunder will act in compliance with all applicable Laws; and
(iii) Without in any way limiting any other right hereunder or under the Stock Purchase Agreement, each Party covenants that in the event that any administrative or judicial action or proceeding is instituted (or threatened to be instituted) by a Governmental Entity or private party challenging the transactions contemplated by the Stock Purchase Agreement or this Agreement, or any other agreement contemplated thereby or hereby, each Party shall cooperate in all respects with each other and use its respective reasonable best efforts to contest and resist any such action or proceeding and to have vacated, lifted, reversed or overturned any decree, judgment, injunction or other order, whether temporary, preliminary or permanent, that is in effect and that prohibits, prevents or restricts consummation of the transactions contemplated by the Stock Purchase Agreement and this Agreement.
Additional Mutual Covenants