AGENT TO MITIGATE LOSS Sample Clauses

AGENT TO MITIGATE LOSS. The Agent must use reasonable endeavours to mitigate its losses as a result of a Default by Gascor, provided that the Agent is not required to take any action or incur any liability in excess of its rights to compensation or damages under this Agreement. -------------------------------------------------------------------------------- 16. TAX -------------------------------------------------------------------------------- 16.1 TAX PASS-ON Subject to Clause 16.3, the amount of the Commission under this Agreement will be: (a) decreased to take into account the full amount of any new Tax (other than any Excluded Tax) imposed on each Seller or Gascor after the date of this Agreement to the extent that such Tax: (1) relates to the production and processing of Natural Gas for Gascor or the supply of Contract Gas to Gascor under the Principal Contract or the supply of Contract Gas to the Agent under this Agreement; and (2) is attributable to the quantity of Contract Gas supplied to the Agent under this Agreement. (b) decreased by the full amount of any increase in any Tax (other than any Excluded Tax) imposed on Gascor to the extent that such increase in any Tax relates to any change in the rate or basis of calculation of such Tax from that existing as at the date of this Agreement and to the extent that such Tax: (1) relates to the production and processing of Natural Gas for Gascor or the supply of Contract Gas to Gascor under the Principal Contract; and (2) is attributable to the quantity of Contract Gas supplied to the Agent under this Agreement; (c) increased by the full amount of any Tax (other than any Excluded Tax) imposed on Gascor at the date of this Agreement ceasing to be imposed on Gascor to the extent that such Tax: (1) relates to the production and processing of Natural Gas for Gascor or the supply of Contract Gas to Gascor under the Principal Contract; and (2) is attributable to the quantity of Contract Gas supplied to the Agent under this Agreement. (d) increased by the full amount of any decrease in any Tax (other than any Excluded Tax) imposed on Gascor to the extent that such decrease in any Tax relates to any change in the rate or basis of calculation of such Tax from that existing as at the date of this Agreement and to the extent that such Tax: (1) relates to the production and processing of Natural Gas for Gascor or the supply of Contract Gas to Gascor under the Principal Contract; and (2) is attributable to the quantity of Contract Gas sup...
Sample 1

Related to AGENT TO MITIGATE LOSS

  • Obligation to Mitigate Each Lender (which term shall include Issuing Bank for purposes of this Section 2.21) agrees that, as promptly as practicable after the officer of such Lender responsible for administering its Loans or Letters of Credit, as the case may be, becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.18, 2.19 or 2.20, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (a) make, issue, fund or maintain its Credit Extensions, including any Affected Loans, through another office of such Lender, or (b) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.18, 2.19 or 2.20 would be materially reduced and if, as determined by such Lender in its sole discretion, the making, issuing, funding or maintaining of such Revolving Commitments, Loans or Letters of Credit through such other office or in accordance with such other measures, as the case may be, would not otherwise adversely affect such Revolving Commitments, Loans or Letters of Credit or the interests of such Lender; provided, such Lender will not be obligated to utilize such other office or take such other measures pursuant to this Section 2.21 unless Borrower agrees to pay all reasonable incremental expenses incurred by such Lender as a result of utilizing such other office or take such other measures as described above. A certificate as to the amount of any such expenses payable by Borrower pursuant to this Section 2.21 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to Borrower (with a copy to Administrative Agent) shall be conclusive absent manifest error.

  • No Obligation to Mitigate Damages Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking (and no payment otherwise required hereunder shall be reduced on account of) other employment or otherwise, nor will any payments hereunder be subject to offset in respect of any claims which the Company may have against Executive.

  • No Obligation to Mitigate The Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor, except as set forth in Section 4(d), shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by the Executive as the result of employment by another employer after the Date of Termination, or otherwise.

  • Duty to Mitigate Each Party agrees that it has a duty to mitigate damages and covenants that it will use commercially reasonable efforts to minimize any damages it may incur as a result of the other Party’s failure to perform pursuant to this Agreement.

  • Mitigation of Damages The Executive will not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. Except as otherwise specifically provided in this Agreement, the amount of any payment provided for under this Agreement will not be reduced by any compensation earned by the Executive as the result of self-employment or employment by another employer or otherwise.

  • No Duty to Mitigate Damages Executive’s benefits under this Exhibit C shall be considered severance pay in consideration of his past service and his continued service from the date of this Agreement, and his entitlement thereto shall neither be governed by any duty to mitigate his damages by seeking further employment nor offset by any compensation which he may receive from future employment.

  • Liability for Loss If Included Timber is destroyed or damaged by an unexpected event that significantly changes the nature of Included Timber, such as fire, wind, flood, insects, disease, or similar cause, the party holding title shall bear the timber value loss resulting from such destruction or damage; except that such losses after removal of timber from Sale Area, but before Scaling, shall be borne by Purchaser at Current Contract Rates and Required Deposits. Deterioration or loss of value of salvage timber is not an unexpected event, except for deterioration due to delay or interruption that qualifies for Contract Term Adjustment or under B8.33.

  • DATA LOSS The Company does not accept responsibility for the security of Your account or content. You agree that Your use of the Website or Services is at Your own risk.

  • Allocation of Risk Licensee acknowledges and agrees that each provision of this Agreement that provides for a disclaimer of warranties or an exclusion or limitation of damages represents an express allocation of risk, and is part of the consideration of this Agreement.

  • No Duty to Mitigate Executive will not be required to mitigate the amount of any payment contemplated by this Agreement, nor will any earnings that Executive may receive from any other source reduce any such payment.