Beneficiary Covenants Sample Clauses

The Beneficiary Covenants clause sets out the obligations and promises that the beneficiary must fulfill under the agreement. Typically, this includes requirements such as providing accurate information, complying with applicable laws, and not taking actions that would jeopardize the agreement or the interests of other parties. By clearly outlining these responsibilities, the clause ensures that the beneficiary acts in good faith and maintains the integrity of the contractual relationship, thereby reducing the risk of disputes or breaches.

Beneficiary Covenants. In addition to the covenant provided in Section 6.2, each Beneficiary agrees by acquisition of the Registrable Securities that, upon receipt 314 of any notice from New Valley of the happening of any event of the kind described in clause (ii), (iv), (v) or (vi) of Section 2.3.1(c), such Beneficiary shall forthwith discontinue disposition of such Registrable Securities covered by such Registration Statement or Prospectus until such Beneficiary's receipt of the copies of the supplemented or amended Prospectus contemplated by Section 2.3.1(k), or until it is advised in writing by New Valley that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto.