Common use of Expenses and Duties Clause in Contracts

Expenses and Duties. 7.1 Notwithstanding the regulations specified in Article 5.2 above, each Party will be responsible for the expenses sustained for implementing and signing this Contract and for complying with the obligations specified therein. The expenses for the Stock Exchange transfer tax (fixed stamp duty) are the responsibility of the Purchaser. Notwithstanding the regulations specified in Article 7.2 below, no other repayment will be due from the Purchaser to the Seller in relation to this Contract. 7.2 It is hereby agreed that in the event of the non-occurrence of the suspension condition specified in Article 4 above within the term established therein, and the non-waiving of this right by the Purchaser or non-designation of a third party willing to take over the purchase of the Shares as per Article 4.4 above, the Purchaser will recognize the Seller, as compensation and covering all claims of the Seller, a once-off all-inclusive amount of 15,000,000 Euros. This compensation will also be due if the third party indicated by the Purchaser does not fulfill the obligations assumed with the letter of acceptance as specified in Article 4.4 above.

Appears in 2 contracts

Samples: Share Sale and Purchase Agreement (Edizione Holding Spa), Share Sale and Purchase Agreement (Telecom Italia S P A)

AutoNDA by SimpleDocs

Expenses and Duties. 7.1 Notwithstanding the regulations specified in Article 5.2 above, each Party will be responsible for the expenses sustained for implementing and signing this Contract and for complying with the obligations specified therein. The expenses for the Stock Exchange transfer tax (fixed stamp duty) are the responsibility of the Purchaser. Notwithstanding the regulations specified in Article 7.2 below, no other repayment will be due from the Purchaser to the Seller in relation to this Contract. 7.2 It is hereby agreed that in the event of the non-occurrence of the suspension condition specified in Article 4 above within the term established therein, and the non-waiving of this right by the Purchaser or non-designation of a third party willing to take over the purchase of the Shares as per Article 4.4 above, the Purchaser will recognize the Seller, as compensation and covering all claims of the Seller, a once-off all-inclusive amount of 15,000,000 Euros. This compensation will also be due if the third party indicated by the Purchaser does not fulfill the obligations assumed with the letter of acceptance as specified in Article 4.4 above.. [initials]

Appears in 1 contract

Samples: Share Sale and Purchase Agreement (Edizione Holding Spa)

AutoNDA by SimpleDocs

Expenses and Duties. 7.1 Notwithstanding the regulations specified in Article 5.2 above, each Party will be responsible for the expenses sustained for implementing and signing this Contract and for complying with the obligations specified therein. The expenses for the Stock Exchange transfer tax (fixed stamp duty) are the responsibility of the Purchaser. Notwithstanding the regulations specified in Article 7.2 below, no other repayment will be due from the Purchaser to the Seller in relation to this Contract. 7.2 It is hereby agreed that in the event of the non-occurrence of the suspension condition specified in Article 4 above within the term established therein, and the non-waiving of this right by the Purchaser or non-designation of a third party willing to take over the purchase of the Shares as per Article 4.4 above, the Purchaser will recognize the Seller, as compensation and covering all claims of the Seller, a once-off all-inclusive amount of 15,000,000 Euros. This compensation will also be due if the third party indicated by the Purchaser does not fulfill the obligations assumed with the letter of acceptance as specified in Article 4.4 above.

Appears in 1 contract

Samples: Share Sale and Purchase Agreement (Telecom Italia S P A)

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