Compliance with the Award Sample Clauses

Compliance with the Award. 1. The party complained against shall take the measures necessary to comply with the award of the Arbitration Tribunal. In the case the Arbitral award does not have a term for compliance it must be understood that the term is for one hundred eighty (180) days. 2. The award of the Arbitration Tribunal shall include the period of time for compliance of the award. That period of time shall be final unless one of the parties justifies in written the need for a different period of time. The Arbitration Tribunal shall render its decision within a period of 15 days from the date of the written request. In case it is essential, the Arbitration Tribunal shall decide on the basis of written submissions of the parties. The Arbitration Tribunal shall convene for this purpose only under special circumstances. 3. Before the end of the period of the time established in the award for the implementation of the award, the party complained against shall notify the other party of the implementing measures in compliance with the award that it has adopted or intends to adopt in order to comply with the award of the Arbitration Tribunal. 4. In the event that there is disagreement between the parties concerning the compatibility of the measure adopted in compliance with the award, the complaining party may seek recourse to the original Arbitration Tribunal to rule on the matter, by submitting a written request to the other party explaining why the measure is incompatible with the award. The Arbitration Tribunal will issue its decision within forty-five (45) days of the date of its re-establishment. 5. In the event of the original Arbitration Tribunal, or some of its members, being unable to reconvene, the procedures laid down in Article 9 of this Chapter shall apply; however, the period for issuing the ruling remains forty-five (45) days from the date of establishment of the Arbitration Tribunal. 6. If the Arbitration Tribunal decides under paragraph 4 that the implementing measures adopted are not in compliance with the Arbitration award, the complaining party shall be entitled, upon notification to suspend the application of benefits granted under this Agreement at a level equivalent to the adverse economic impact caused by the measure found to violate this Agreement. 7. The suspension of benefits shall be temporary and shall be applied only until the measure found to be in violation of this Agreement is withdrawn or amended so as to bring it into conformity with this Agreement...
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs
Compliance with the Award. Unless the Parties agree otherwise, the requested Party shall comply with the award immediately, or if this is not practicable, within a reasonable period of time determined by common agreement by the Parties. When the Parties do not reach an agreement regarding the reasonable term, Within ninety (90) days following the date of issuance of the award, the arbitral tribunal will determine that reasonable term.
Sample 1Sample 2

Related to Compliance with the Award

  • COMPLIANCE WITH THE ACT All matters related to the operations of the Company not specifically addressed herein must be addressed in accordance with the Act. The Company must comply with all other provisions of the Act in order to stay compliant with the law.

  • Compliance with the Agreement Within 10 days of this Agreement, the board of directors of the Bank shall appoint a committee (the “Compliance Committee”) to monitor and coordinate the Bank’s compliance with the provisions of this Agreement. The Compliance Committee shall include a majority of outside directors who are not executive officers or principal shareholders of the Bank, as defined in Sections 215.2(e)(1) and 215.2 (m)(1) of Regulation O of the Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1). At a minimum, the Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to the board of directors of the Bank.

  • Compliance with the Laws ISSUER has complied with, and is not in violation of any federal, state or local statue, law, and/or regulation pertaining to ISSUER. ISSUER has complied with all federal and state securities laws in connection with the issuance, sale and distribution of its securities.

  • Compliance with the Law The Parties agree to comply fully with all applicable federal, state, and local statutes, ordinances, rules, and regulations applicable to their entity in connection with the programs contemplated under this Agreement.

  • Compliance with the FDIC Rule The Seller agrees to (i) perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) facilitate compliance with Article XII of the Indenture by the Ally Parties.

  • Compliance with TIA Every amendment, waiver or supplement of this Indenture or the Securities shall comply with the TIA as then in effect.

  • Compliance with the Securities Act The Registration Statement has been prepared and filed by the Company in conformity with the Securities Act and the applicable instructions and Regulations. The Commission has not issued any order preventing or suspending the use of any prospectus or preliminary prospectus filed with the Registration Statement or any amendments thereto. At the time the Registration Statement becomes effective (the "Effective Date") and at the time that any post-effective amendments thereto become effective and at all times subsequent thereto up to the Termination Date (as defined in Section 3(d) hereof), the Registration Statement and Prospectus (as amended or as supplemented) will contain all statements which are required to be stated therein in accordance with the Securities Act and the Regulations and will in all respects conform to the requirements of the Securities Act and the Regulations, and will not include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and each preliminary prospectus filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the Securities Act, complied when so filed in all material respects with the Securities Act and Regulations and did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

  • Compliance with the Laws and Agreements; No Defaults (a) Each of the Borrower and each Subsidiary is in compliance with all Governmental Requirements applicable to it or its Property and all agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. (b) Neither the Borrower nor any Subsidiary is in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default or would require the Borrower or a Subsidiary to Redeem or make any offer to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Indebtedness is outstanding or by which the Borrower or any Subsidiary or any of their Properties is bound. (c) No Default has occurred and is continuing.

  • Compliance with Terms Such Grantor will perform and comply with all obligations in respect of the Collateral owned by it and all agreements to which it is a party or by which it is bound relating to such Collateral.

  • Compliance with the Sxxxxxxx-Xxxxx Act There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any provision of the Sxxxxxxx-Xxxxx Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sxxxxxxx-Xxxxx Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!