Commercial Contracts. Each Party acknowledges that the Finance Parties shall have no responsibility or liability whatsoever regarding any performance or non‑performance by any party to a Commercial Contract and that the Finance Parties shall have no obligation to intervene in any dispute in connection with or arising out of such performance or non‑performance. Any such dispute shall not affect the Borrower’s performance under this Agreement nor entitle the Borrower to any suspension or other claim towards the Finance Parties.
Commercial Contracts. (a) Not amend or grant any waiver:
(i) in respect of any provision of any Commercial Contract relating to the first twenty four (24) Satellites, if such amendment or waiver would or could reasonably be expected to adversely affect the Lenders; and
(ii) in respect of any other provision of any Commercial Contract not referred to in paragraph (a)(i) above, if such amendment or waiver would or could reasonably be expected to have a Material Adverse Effect.
(b) Not exercise the option to order from the Supplier up to eighteen (18) additional recurring Spacecraft (as such term is defined in the Satellite Construction Contract) pursuant to Article 29(B) (Options) of the Satellite Construction Contract without the prior written consent of the COFACE Agent.
Commercial Contracts. As of the Third Effective Date, the Borrower has not exercised the “Optional Launches” (as such term is defined in the Launch Services Contract) pursuant to the Launch Services Contract.
Commercial Contracts. All sales orders and contracts, purchase orders and contracts, leasing agreements, rental agreements, maintenance agreements, utilities agreements, service agreements and insurance agreements, to the extent they relate to the Business. Exhibit D contains a complete list of the commercial contracts being transferred and assigned to the Buyer hereunder (hereinafter the "Commercial Contracts");
Commercial Contracts. The Commercial Contracts have been duly executed by the parties thereto, are valid, binding and enforceable in accordance with applicable laws. The Seller has so far duly discharged its obligations thereunder and is not in breach of any of the Commercial Contracts. No party to any Commercial Contract has notified the Seller that it considers the Seller to be in breach thereof and the Seller has no knowledge or belief that any party to any Commercial Contract is contemplating the breach thereof. The Seller warrants the assignability of the Commercial Contracts, except for those contracts listed in Exhibit L. With reference to the latter contracts:
(a) the Seller is not aware of any reason why all the consents, approvals and authorizations necessary for the assignment thereof will not be given by the relevant counterparties;
(b) it shall be the Buyer's liability, at its costs and expense, to obtain the necessary consent to succeed to the Seller's rights and duties thereunder;
(c) the Seller shall provide its best effort in order to cooperate with the Buyer in the Buyer's efforts to obtain the consent under (a) above.
Commercial Contracts. (a) The Borrower shall not (and shall ensure that none of the Traders will), without the consent of the Facility Agent (acting on the instructions of the Majority Lenders):
(i) agree to or permit any amendment to, or variation or waiver of, any material term of any relevant Commercial Contract (except for an Acceptable Amendment);
(ii) agree to or permit the cancellation, suspension, termination or revocation of any relevant Commercial Contract (other than an Assigned Offtake Contract that is promptly replaced by another Assigned Offtake Contract);
(iii) release any other party to a relevant Commercial Contract from its material obligations under that Commercial Contract;
(iv) consent to any act or omission by any other party to a relevant Commercial Contract which could constitute a material breach of that Commercial Contract;
(v) exercise any right of set-off or counterclaim under the relevant Commercial Contracts; or
(vi) transfer any of its material obligations under any relevant Commercial Contract to any person.
(b) Except with the consent of the Facility Agent (acting on the instructions of the Majority Lenders), the Borrower shall (and shall ensure that each Trader will):
(i) duly and punctually comply with, and maintain in full force and effect, its material obligations under each relevant Commercial Contract (notwithstanding the existence of a dispute or event of force majeure (however defined)) and exercise all of its rights against the other parties to the relevant Commercial Contracts;
(ii) ensure that all payments under an Assigned Export Contract are made to the Borrower Collection Account (except for the first payment after the date of opening or refiling of a transaction passport in respect of the relevant Assigned Export Contract) without set-off or counterclaim;
(iii) ensure that all payments under an Assigned Offtake Contract are made to the relevant Trader Collection Account without set-off or counterclaim;
(iv) ensure that each Assigned Export Contract, and all invoices and like documents delivered under each Assigned Export Contract shall, unless otherwise directed by the Facility Agent, contain a provision irrevocably directing that all payments thereunder be made to the Borrower Collection Account (except for the first payment after the date of opening or refiling of a transaction passport in respect of the relevant Assigned Export Contract) and without set-off or counterclaim;
(v) ensure that each Assigned Offtake Contract, and al...
Commercial Contracts. The production of the Commodities under either of the Commercial Contracts is suspended for a period of at least forty-five (45) days.
Commercial Contracts refer to the cooperation agreements signed by Party A with other companies and institutions to ensure the normal operation of the Kuaidian Platforms, such as the interconnection cooperation agreement signed with the Operator, the payment cooperation agreement signed with third-Party payment institutions, etc.
Commercial Contracts. For all of the above cases, no matter in what form or medium the information or record is contained or recorded.
Commercial Contracts. Following repeat orders, and the establishment of a working relationship, alternative terms and conditions may be discussed. ALL initial sales must be paid for in full and up front. We will exercise our statutory right to claim interest (at 8 per cent over the Bank of England base rate) and compensation for debt recovery costs under the Late Payment legislation if we are not paid according to our agreed credit terms.
