Contractual Portion Sample Clauses

Contractual Portion. Amount: 10,000,000.00 Euros (ten million and 00/100 Euros) Financed Party: The limited liability company M.T.M. SRL Technical form: Medium-term financing Duration: 5 years Means of disbursement: Single disbursement Repayment of principal: The principal financed is to be repaid by means of 20 quarterly installments due upon accrual. Rate: Variable Interest period: 3 months due upon accrual Payment due dates: Whenever the date of a payment, due from the FINANCED PARTY for any reason, happens not to fall on a banking day according to the TARGET system (the Trans European Automated Real Time Gross Settlement [typographical errors interpreted:] Transfer System), the payment is to be deemed due to the BANK on the immediately subsequent banking day unless such day falls within a calendar month other than that initially provided for, in which case the repayment date is to be the immediately preceding day. Parameter of reference for determining the rate: The 3-month EURIBOR rate, rounded off to the next higher 0.05, determined 2 business days preceding, respectively, the date of disbursement and the starting date of each rate application period. Increase: 1.00% Penalty interest rate: The level is to be determined for each semiannual period running from January 1 and from July 1 of each year increasing the 6-month EURIBOR rate by 3 points with the respective value dates of the first business day of the months of December and June preceding each semiannual period. The current rate is 5.134%. Commitment fee: 35,000.00 Euros deducted by the Bank from the first disbursement. Financial covenants: In the Financing Agreement it is to be provided that certain values are to be complied with on the balance sheet of the FINANCED PARTY for the entire duration of the financing in relation to the indicators set forth as follows: • Shareholders’ Equity of not less than 20,000,000.00 Euros; • A ratio of Net Financial Debt to Shareholders’ Equity not greater than 0.80. In the event of a failure to comply with the above values, the Bank may cancel the Financing Agreement or, alternatively, raise the increase of the Euribor parameter for the determination of the rate a further 0.75 percentage point.
Sample 1
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Related to Contractual Portion

  • Contractual Rights The right to be indemnified or to receive advancement of Expenses under this Agreement (i) is a contract right based upon good and valuable consideration, pursuant to which Indemnitee may xxx, (ii) is and is intended to be retroactive and shall be available as to events occurring prior to the date of this Agreement and (iii) shall continue after any rescission or restrictive modification of this Agreement as to events occurring prior thereto.

  • Other Contractual Rights Nothing contained in this Article shall affect any right to indemnification to which Persons other than Trustees and officers of the Trust or any subsidiary thereof may be entitled by contract or otherwise.

  • Contractual Income The Custodian shall credit the applicable Series, in accordance with the Custodian’s standard operating procedure, with income and maturity proceeds on Securities on the contractual payment dates net of any taxes or upon actual receipt. To the extent the Custodian credits income on contractual payment date, the Custodian may reverse such accounting entries to the contractual payment date if the Custodian reasonably believes that such amount will not be received.

  • CONTRACTUAL STATUS 10.1 This Agreement shall be executed and become effective on the date first written above if approved by a vote of the Board of Trustees of the Trust, including an affirmative vote of a majority of the non-interested members of the Board, cast in person at a meeting called for the purpose of voting on such approval. It shall continue in effect for an indeterminate period, and is subject to termination on sixty (60) days' notice by either party unless earlier terminated or amended by agreement among the parties. Compensation under this Agreement shall require approval by a majority vote of the Board of Trustees of the Trust, including an affirmative vote of the majority of the non-interested members of the Board cast in person at a meeting called for the purpose of voting on such approval.

  • EXTRA CONTRACTUAL OBLIGATIONS In the event Retrocedant or Retrocessionaire is held liable to pay any punitive, exemplary, compensatory or consequential damages because of alleged or actual bad faith or negligence related to the handling of any claim under any Reinsurance Contract or otherwise in respect of such Reinsurance Contract, the parties shall be liable for such damages in proportion to their responsibility for the conduct giving rise to the damages. Such determination shall be made by Retrocedant and Retrocessionaire, acting jointly and in good faith, and in the event the parties are unable to reach agreement as to such determination, recourse shall be had to Article XV hereof.

  • EXTRA-CONTRACTUAL DAMAGES Extra-contractual damages are defined as punitive, statutory or compensatory damages due to the Ceding Company's negligence, oppression, malice, fault, wrongdoing or bad faith in connection with an award against the Ceding Company in excess of the limits of the policy reinsured as a result of, but not limited to, an act, omission or course of conduct committed solely by the Ceding Company in connection with the benefits payable under a particular policy reinsured under this Agreement.

  • Contractual Consents The Corporation and/or the Shareholders shall have given all notices to, and obtained all consents, approvals or authorizations of or from, any individual, corporation or other party which may be necessary to permit the consummation of the transactions contemplated hereby (including, without limitation, any consents required under the Contracts).

  • Default in Favor of Third Parties Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

  • Contractual Settlement Unless the parties agree to the contrary, the Custodian will attend to the settlement of securities transactions in accordance with the Custodian's standard operating procedure, on the basis of either contractual settlement date accounting or actual settlement date accounting. To the extent the Custodian settles certain securities transactions on the basis of contractual settlement date accounting, the Custodian may reverse with back value to the contractual settlement date any entry relating to such contractual settlement if the Custodian reasonably believes that such amount will not be received.

  • Joint Ownership 10 Annuitant............................................................... 10

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