Construction of Section Sample Clauses

Construction of Section. Notwithstanding any of the provisions of this Section 9, if it is finally determined by a court of competent jurisdiction that any of such provisions are void or unenforceable under governing law, then such provisions shall be deemed stricken from this Agreement and the remaining provisions shall remain in full force and effect and shall be construed to provide for the maximum defense and indemnification obligations by Subcontractor permitted by law.
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Construction of Section. 12.1. It is recorded that as at Signature Date, construction of the Section will either not have been commenced with at all or will have been commenced with but will not have been completed. 12.2. The Seller has engaged a Contractor to construct and / or complete the Section in a proper and workmanlike manner using suitable materials and in accordance with the Design Documents. 12.3. The Seller shall take all reasonable measures to cause the construction of the Section to be Practically Completed by no later than the Intended Practical Completion Date. 12.4. In the event of the Seller anticipating that – for whatever reason, other than due to an Impediment - the construction of the Section will not be Practically Completed by the Intended Practical Completion Date, then ~ 12.4.1. such date shall be delayed until such later date as the Seller may reasonably determine, (“the Delayed Practical Completion Date”) and the Seller shall notify the Purchaser of the Delayed Practical Completion Date by way of a notice delivered to the Purchaser at least 30 (thirty) Calendar Days prior to the Intended Practical Completion Date (“the Delay Notice”); and 12.4.2. regardless of the cause of such delay, the Seller shall not be liable to the Purchaser for any claim of whatsoever nature, including a claim for damages or a claim for cancellation of this Agreement, in consequence of the delay in the Intended Practical Completion Date. I have read and understand the provisions of this clause 12.4 Initial: --------------- Initial: ……………….. 12.5. Should the Seller, for any reason other than due to an Impediment(s), fail to cause the Section to be practically completed by the Delayed Practical Completion Date, the Purchaser shall be entitled (but not obliged) to terminate this Agreement, provided however, that should the Purchaser elect to terminate this Agreement he shall give the Seller notice thereof within 10 (ten) Business Days after Delayed Practical Completion Date. 12.6. Should the Purchaser fail to give the Seller the said notice of termination of this Agreement within the 10 (ten) Business Day period mentioned in clause 12.5, the Purchaser shall be irrebuttably deemed to have elected not to terminate this Agreement. I have read and understand the provisions of this clause 12.6 Initial: --------------- Initial: ……………….. 12.7. The Seller shall not be liable for a failure to Practically Complete the construction of the Section by the Intended Practical Completion Date, or ...
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Related to Construction of Section

  • Application of Section 409A Notwithstanding anything to the contrary herein, the following provisions apply to the extent severance benefits provided herein are subject to Section 409A of the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively “Section 409A”). Severance benefits shall not commence until Executive has a “separation from service” for purposes of Section 409A. If Executive is a “specified employee” within the meaning of 409A(a)(2)(B)(i) of the Code, any installment payments of Disability Base Salary Payments pursuant to Section 6.3(b) or Cash Compensation Amounts pursuant to Section 6.5(b) or 6.6(b) that are triggered by a separation from service shall be accelerated to the minimum extent necessary so that (a) the lesser of (y) the total cash severance payment amount, or (z) six (6) months of such installment payments are paid no later than March 15 of the calendar year following such termination, and (b) all amounts paid pursuant to the foregoing clause (a) will constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and thus will be payable pursuant to the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations. It is intended that if Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code at the time of such separation from service the foregoing provision shall result in compliance with the requirements of Section 409A(a)(2)(B)(i) of the Code because payments to Executive will either be payable pursuant to the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations or will not be paid until at least 6 months after separation from service. The severance benefits are intended to qualify for an exemption from application of Section 409A or comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly.

  • Amendment of Section 9.2. Section 9.2 of the Credit Agreement is hereby amended to read in its entirety as follows:

  • Amendment of Section 8 15(b). Section 8.15(b) of the Existing Credit Agreement is hereby amended in its entirety to read as follows:

  • Amendment of Section 5 02. The third paragraph following Section 5.02(a)(vi) is hereby replaced in its entirety with the following: On each Distribution Date, the Trustee, subject to Section 5.01, shall distribute to the Holders of the Class SES Certificates, any Ancillary Income, which shall be treated as paid outside the Lower-Tier REMIC and the Upper-Tier REMIC.

  • Amendment of Section 7 2.10(f). Clause (iii) of Section 7.2.10(f) of the Credit Agreement is hereby amended and restated in its entirety to the following:

  • Amendment of Section 6 14. Section 6.14 of the Credit Agreement is amended to read as follows:

  • Amendment of Section 9 05. In respect of the 2018 Notes only, the provisions of Section 9.05 of the Indenture are amended by deleting the text of such Section in its entirety and inserting in lieu thereof the phrase “[intentionally omitted]”. Such provisions shall be deemed not to have been deleted in respect of the 2021 Notes.

  • Amendment of Section 4 4. Pursuant to Section 9.2 of the Indenture, Section 4.4(b) of the Indenture is hereby amended and restated in its entirety to read as follows:

  • Amendment of Section 10 1. Section 10.1 of the Note Agreement is amended to read in its entirety as follows:

  • Amendment of Section 1.1 Section 1.1 of the Credit Agreement is hereby amended by inserting the following new definitions in the appropriate locations according to alphabetical order, or by amending and restating existing definitions to read as indicated, as applicable:

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