EIGHTH CLAUSE. OBLIGATIONS OF FITEL By the FINANCING AGREEMENT, XXXXX assumes the following obligations:
EIGHTH CLAUSE. This Agreement shall take effect upon approval by all the parties on the date of its signature and shall have a duration of (5) five years. The parties the undersigned, declare to have read and accepted the terms and conditions of this Agreement as described here before and in evidence thereof sign this Agreement in duplicate at the date and place indicated. By Universidad de Santander By University
EIGHTH CLAUSE. This clause shall only be completed if the contracted party is or has been a pensioner of any governmental retirement system. In said circumstances s/he shall select option A if they shall render services without detriment to their pension benefits during the contract period or option B if THE SECOND PARTY has applied for a suspension of his/her pension benefits for said term. All the required documentation shall be included with the contract.
EIGHTH CLAUSE. Except for the charges associated with the use of the Grid, mentioned in the Seventh Clause above, IPP shall not, in any circumstance, be responsible for the payment of any other costs or charges imposed on or associated with the sale of Electric Energy, including, without limitation, transmission losses from the Delivery Point until delivery to the ultimate consumer, after the conveyance of the title to the Electric Energy, which shall occur at the Delivery Point, as provided for in the Eleventh Clause of this Agreement. Each of the Parties expressly agrees and undertakes to indemnify and hold harmless the other Party from any claims arising from any act or incident occurring when title to the Electric Energy is vested in the indemnifying Party. Ninth Clause - Should there exist, with respect to any invoice, undisputed amounts and amounts which liquidity and certainty is being disputed by MARKETER, the MARKETER shall pay the undisputed amounts when due, under penalty of the failure to pay that amounts being characterized as a default by MARKETER. Once the dispute is settled, MARKETER shall pay, within a maximum of 5 days from the date the Parties reached agreement, the relevant balance plus interest at the rate of 1% per month, accrued from the due date of the respective invoice until the date of its actual payment.
EIGHTH CLAUSE. THE PARTIES' OBLIGATIONS
EIGHTH CLAUSE. The President will make the necessary and convenient acts to administer the Company, except ones appointed in article nine to this contract, for such he can, among other powers:
EIGHTH CLAUSE. Value of the partial acquisition of titles on behalf of CCP. - The final value of the identified reserves that will be determined via the program of exploration carried out by CCP applying the JORC methodology, will be the result of multiplying the coal reserves, free of any limitation and therefore subject to exploitation, by the unitary prices agreed, meaning, by US$ 1.10/t for proven coal reserves and US$ 0.55/t for probable coal reserves.
EIGHTH CLAUSE. 8.1. Should the deadline provided for on the Third Clause not be respected, including the respective prorogations, FUSION FUEL may declare contractual non-compliance.
EIGHTH CLAUSE. TRANSPORTATION AND STORAGE
EIGHTH CLAUSE. Correspondences All communication and correspondences between both parties will be done via correspondences on each party’s address and mentioned in this contract or whenever updated later. Correspondences between both parties via Fax, Telex and other modern communication tools are accepted, and original correspondences would need to be sent via mail for safe keeping before the date of any deal.
