Division between Subordinated Parties Sample Clauses

Division between Subordinated Parties. All amounts received from the Debtor by the Subordinated Creditors after making a claim under the Subordinated Liabilities in accordance with the provisions of Clause 2 (Ranking of Liabilities), whether or not by way of set-off, or otherwise deducted from its claims under or in connection with receives with the Subordinated Liabilities, and/or receives under the Permitted Security, other than in accordance with paragraph 14.8, will be prorated in proportion to the claims of the Subordinated Creditors under or in connection with the Subordinated Liabilities as at the date of the claim made under the Subordinated Liabilities. NO FORFEITURE OF RIGHTS‌ No failure or delay on the part of any Party in exercising, any right under this Agreement will affect such right or constitute a forfeiture (rechtsverwerking) thereof and no waiver by any Party of any right or remedy on one occasion shall be construed as a bar to any right or remedy that such Party would otherwise have on any future occasion. SEVERABILITY‌ Should any provision of this Agreement be or become invalid, void, illegal or unenforceable in any respect under the law of any jurisdiction, all remaining provisions and terms of this Agreement shall remain in full force and effect and the parties to this Agreement will negotiate in good faith to replace the invalid, void or unenforceable provision with a valid and enforceable provision that reflects as nearly as possible the intention of the parties as referred in the provision thus replaced. APPLICABLE PROVISIONS‌ Clauses [●] (Costs and expenses), [●] (Set-off), [●] (Notices) and Clause [●] (Confidential Information) of the Facilities Agreement shall apply mutatis mutandis to this Deed as if set out in full in this Deed.
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Related to Division between Subordinated Parties

  • Joint Venture, Consortium or Association 6.1 If the Supplier is a joint venture, consortium, or association, all of the parties shall be jointly and severally liable to the Procuring Entity for the fulfilment of the provisions of the Contract and shall designate one member of the joint venture, consortium, or association to act as a leader with authority to bind the joint venture, consortium, or association. The composition or the constitution of the joint venture, consortium, or association shall not be altered without the prior written consent of the Procuring Entity.

  • Control and Payment of Subordinates; Independent Contractor The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. City retains Consultant on an independent contractor basis and not as an employee. Consultant retains the right to perform similar or different services for others during the Term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall also not be employees of City and shall at all times be under Consultant’s exclusive direction and control. Consultant shall pay all wages, salaries, and other amounts due such personnel in connection with their performance of Services under this Agreement and as required by law. Consultant shall be responsible for all reports and obligations respecting such additional personnel, including, but not limited to: social security taxes, income tax withholding, unemployment insurance, disability insurance, and workers’ compensation insurance.

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  • Prohibition on Contracts with Companies Boycotting Israel To the extent that Texas Government Code, Chapter 2271 applies to this Agreement, PROVIDER certifies that (a) it does not currently boycott Israel; and (b) it will not boycott Israel during the term of this Agreement. PROVIDER acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate.

  • Entities that Boycott Energy Companies In accordance with Senate Bill 13, Acts 2021, 87th Leg., R.S., pursuant to Section 2274.002 (eff. Sept. 1, 2023, Section 2276.002, pursuant to House Bill 4595, Acts 2023, 88th Leg., R.S.) of the Texas Government Code (relating to prohibition on contracts with companies boycotting certain energy companies), Contractor represents and warrants that: (1) it does not, and will not for the duration of the Contract, boycott energy companies or (2) the verification required by Section 2274.002 (eff. Sept. 1, 2023, Section 2276.002, pursuant to House Bill 4595, Acts 2023, 88th Leg., R.S.) of the Texas Government Code does not apply to the Contract. If circumstances relevant to this provision change during the course of the Contract, Contractor shall promptly notify System Agency.

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