Common use of Commercial Acts Clause in Contracts

Commercial Acts. The Obligations of the Company under the Loan Documents are commercial in nature and are subject to civil and commercial law with respect thereto. The execution and performance of the Loan Documents by the Company constitute private and commercial acts and not governmental or public acts. The Company and its Property is subject to legal action in respect of its Obligations and is not entitled to immunity on the grounds of sovereignty or otherwise from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) in connection therewith. If the Company or any of its Property should become entitled to any such right of immunity, the Company has effectively waived such right pursuant to Section 9.16 (Waiver of Immunity).

Commercial Acts. The Obligations of the Company under the Loan Documents are commercial in nature and are subject to civil and commercial law with respect thereto. The execution and performance of the Loan Documents by the Company constitute private and commercial acts and not governmental or public acts. The Company and its Property is subject to legal action in respect of its Obligations and is not entitled to immunity on the grounds of sovereignty or otherwise from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) in connection therewith. If the Company or any of its Property should become entitled to any such right of immunity, the Company has effectively waived such right pursuant to Section 9.16 10.16 (Waiver of Immunity).