CLAUSE FIFTEEN. ADMINISTRATION. The TRUSTEE shall administer the Trust Corpus pursuant to the provisions of articles 278 (two hundred and seventy-eight) and 391 (three hundred and ninety-one) of the General Law of Negotiable Instruments and Credit Operations, without exception following any instructions given to it in writing in each instance, as set forth in the clauses of this agreement.
CLAUSE FIFTEEN. JURISDICTION
CLAUSE FIFTEEN. Any question relating to this Agreement for the Mobility of Students will be resolved by an Arbitration Board, consisting of one member appointed by each institution participant plus one member elected by mutual understanding.
CLAUSE FIFTEEN. VALIDITY The AGREEMENT shall be effective from the date of its execution and remain in force until the final settlement of the CREDIT FACILITY. SOLE PARAGRAPH The AGREEMENT is irrevocable and irreversible and may be amended only by means of an addendum upon prior written approval by BNDES duly signed by signatories identified in the introduction of this AGREEMENT.
CLAUSE FIFTEEN. To settle any litigious matter, which could not be solved by such an Arbitration Board, the court located at each participant institution headquarters will be exclusively chosen.
CLAUSE FIFTEEN. Prohibitions. The Offerers, being duly represented, hereby establish in favor of LUMINA voluntary prohibition not to encumber or dispose of or to enter into acts or contracts in respect of the Mining Concessions specified in Clause One hereunder and with respect to the N.S.R. Purchase Option specified in Clause Nine. One without the prior, express and written consent of LUMINA, whose recordings in the Registry of Prohibitions kept by the respective Mining Registrar can be required by the bearer of an authorized copy of this deed. The preceding is without prejudice to the recording of the present Contract in the Registry of Mortgages and Encumbrances, by virtue of the provisions of article one hundred and sixty nine of the Mining Code.
CLAUSE FIFTEEN. Attachments Attachments Contents
CLAUSE FIFTEEN. If any of the parties breaches this agreement, it shall be subject to a contractual penalty equal to three (3) months’ rent in force at the time of the breach, and regardless of the period of time that had elapsed from the beginning of the lease agreement, such penalty shall be charged in full. The non-breaching party may deem the lease simultaneously terminated, regardless of any notice or notification, or, further, it may require full performance of this agreement up until termination thereof, under the conditions herein provided for, without prejudice to any penalty it is entitled to charge. Clause Sixteen: The premises shall be returned in good condition, clean and painted. Paragraph One: In order to carry on its activities, LESSEE may make improvements in the leased premises, always with the LESSOR’s consent, provided that the architecture and the use of the leased premises are not changed on account of such improvements. Such improvements may, however, at LESSOR’s discretion, be incorporated into the premises, and LESSEE shall not have the right to indemnification, compensation or lien for any purpose whatsoever. Paragraph Two: When using the leased premises, LESSEE shall be held liable for any sanctions that may be imposed thereon on account of any infringement it may commit and LESSOR is hereby released from any responsibility therefore.
CLAUSE FIFTEEN. This instrument and any amendments thereto will be registered by the Issuer at the competent Registry of Deeds and Documents within five (5) working days after their execution. The Issuer must provide to the Bank evidence of such registration at the end of the above five days. Clause Sixteen – All costs and expenses resulting from the registration hereunder will be fully borne by the Issuer.
