Expropriation or Nationalization Sample Clauses

Expropriation or Nationalization. (1) Investments by the investors of either Contracting State shall not be subject to sequestration, confiscation, or any similar measure in violation of international law and shall enjoy full and complete protection and safety in the territory of the other Contracting State. (2) Neither Contracting State shall take any measure of expropriation or nationalization or freezing of assets, or any other measure having the same effect or subject the investment to any measures direct or indirect tantamount to expropriation including the levying of unreasonable taxes, the compulsory sale of all or part of an investment or the impairment or deprivation of its management or control unless the following conditions are complied with: (a) Measures are taken for a public interest related to real internal needs under due process of law and in accordance with the domestic constitution and general principles of international law; (b) Measures are not discriminatory; (c) Measures are accompanied by prompt, adequate and effective compensation. (3) The investor shall have the right of review of the legality of any such measures referred to in Paragraphs (1) and (2) of this Article and the amount of compensation by the competent court of the Contracting State which has taken such measures. (4) Compensation in cases referred to in Paragraphs (1) and (2) of this Article shall amount to the fair market value of the expropriated investment at the time immediately before the expropriation or decision thereof became publicly known. Where the market value cannot be readily ascertained the compensation shall be determined taking into account the capital invested, depreciation, replacement value, goodwill and other relevant factors. The compensation shall include interest at the prevailing commercial rate from the date of expropriation or loss until the date of payment.
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Expropriation or Nationalization. 1. Investments of investors of either Contracting Party shall not be expropriated or subjected to measures having effect equivalent to nationalization or expropriation (hereinafter referred as "expropriation") in the territory of the other Contracting Party except for a public purpose or national interest. The expropriation shall be carried out under due process of law, on a non-discriminatory basis and in exchange of the payment of prompt, adequate and effective compensation. Such compensation shall be equivalent to the market value of the investment expropriated immediately prior to the moment in which the decision of expropriation has been announced. The exchange rate applicable to any such compensation shall be that prevailing on the date immediately prior to the moment in which the decision of expropriation has been announced. The compensation shall include interest calculated on the LIBOR basis from the date of expropriation to the date of payment, shall be made without undue delay and in any case within three months, shall be effectively realizable and shall be freely transferable in freely convertible currency. 2. In the absence of an understanding between the host Contracting Party and the investor concerning the amount of the compensation, the latter shall be based on the same reference parameters taken into account in the documents for the constitution of the investment. 3. The provisions of this Article shall also apply when a Contracting Party expropriates the assets of a company which is incorporated or constituted under the law in force in its territory and of which investors of the other Contracting Party own shares or have other forms of participation. 4. An investor of either Contracting Party that asserts that all or part of its investment has been affected by expropriation shall have the right to a prompt review by the competent judicial or administrative authorities of the other Contracting Party in order to determine whether such measure has occurred and, if it has, whether such measure and any compensation thereof conform to the provisions of this Agreement and to the principles of international law, and in order to decide all other relevant matters. 5. Compensation will be considered as actual if it has been paid in the any freely convertible currency or in any other currency accepted by the investor. Compensation will be freely transferable. 6. The provisions of this Article shall also apply to profits of an investment and, in the ...
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Expropriation or Nationalization. If, on a date subsequent to the execution of this Loan Agreement, the Peruvian government carries out any act that, at the duly founded criteria and discretion of the Bank, (i) may result in the deprivation of any of its rights as a credit under this Loan Agreement; or (ii) confiscates, expropriates or nationalizes the property or Effective Control of the Client over its goods or the assets, shares or significant rights of the Client that put at risk, at the Bank’s criteria, the repayment of the monetary obligations of the Loan Agreement.
Sample 1
Expropriation or Nationalization. 1. Subject to the provisions of Article 7 of this Agreement, the investments of nationals or subsidiaries of any Contracting Party may not be nationalized, expropriated or subject to any equivalent process of nationalization or expropriation (hereinafter referred to as "expropriation" ) In the territory of the other Contracting Party unless expropriation is made for a public purpose and on a non-discriminatory basis and in return for fair and effective compensation immediately paid on such compensation to cover the real value of the investments prior to expropriation directly or before the news of expropriation is received and such compensation is paid without delay While making use of it and guaranteeing the freedom to transfer it. 2. The nationals or companies affected by the expropriation shall be entitled to an immediate review, in accordance with the laws of the Contracting Party which is expropriating by a judicial authority or an independent authority of that Party for expropriation and the valuation of the investments affected in accordance with the principles mentioned in this paragraph. 3. Where either Contracting Party expropriates the assets of an incorporated company or a problem under the laws in force in any part of its territory, and the nationals or companies of the other Contracting Party hold shares in that company, the party that expropriates shall comply with the provisions of paragraph (1) of this Article to the extent necessary to ensure that immediate and fair compensation is given to the investments of citizens or companies of the other Contracting Party owning the shares.
Sample 1
Expropriation or Nationalization. (1) Investments by the investors of either Contracting State shall not be subject to sequestration, confiscation or any similar measure and shall enjoy full and complete protection and safety in the territory of the other Contracting State. (2) Neither Contracting State shall take any measure of expropriation or nationalization or freezing of assets, or any other measure having the same effect or to subject the investment to any measures direct or indirect tantamount to expropriation including the levying of taxes, the compulsory sale of all or part of an investment or the impairment or deprivation of its management or control. (3) Measures referred to in paragraph (1) and (2) of this Article can be taken only when the following conditions are complied with: (a) Measures are taken for an ultimate and basic public interest; (b) Measures are taken in accordance with the domestic constitution and general principles of international law; (c) Measures are not discriminatory; (d) Measures are taken under due process of law by the competent court and the investor shall have the right to contest against the expropriation or any such measure to the competent court of the Contracting State which has taken such measures; (e) Measures are accompanied by prompt, adequate and effective compensation. (4) Compensation for applicable cases referred to in this Article shall amount to the fair market value of the expropriated investment at the time immediately before the expropriation or decision thereof became publicly known. Where the market value cannot be readily ascertained the compensation shall be determined taking into account the capital invested, depreciation, replacement value, goodwill and other relevant factors. The compensation shall include interest at the rate of London Interbank Offered Rate (LIBOR) for 3-month deposits in the respective currency from the date of expropriation or loss until the date of payment.
Sample 1
Expropriation or Nationalization. If on a date following the Signing Date by or under the authority of any government: (i) the management of the Borrower is wholly or partially displaced or the authority of the Borrower in the conduct of its business is wholly or partially taken over; or (ii) all or a majority of the issued shares of the Borrower is seized, nationalized, expropriated or compulsorily acquired, or (iii) properties, revenues or assets of the Borrower, individually or in aggregate at any time comprising not less than 5% (five percent) of the Consolidated EBITDA and/or not less than 5% (five percent) of the gross assets of the Group, are seized, nationalized, expropriated or compulsorily acquired.
Sample 1
Expropriation or Nationalization. 1. Investments by nationals or companies of one of the Contracting Parties shall benefit, as well as the income of those investments that are made in the territory or maritime area from the other contracting party, of full protection and security. 2. The two Contracting Parties shall not take measures of expropriation or nationalization or any other measures which will have the effect of expropriating, directly or indirectly, nationals and companies of the other Party of their investments which they own in their territory or maritime area, except in the public interest, provided that such measures are taken in accordance with regulations and are not discriminatory. Expropriation procedures, if taken, must be accompanied by the payment of adequate and effective compensation. Such compensation shall be calculated on the basis of the real value of the investments concerned, estimated in accordance with the economic conditions prevailing on the day before the measures were taken or announced. The amount and the procedure for payment of this compensation shall be fixed no later than the date of expropriation and the compensation must be real and payable without delay and freely transferable, including interest due in case of delay. 3. Nationals or companies of one of the Contracting Parties shall enjoy treatment no less favourable than that accorded to their nationals or companies or those of the most favoured Nation if their investments suffer losses as a result of war or armed conflict, state of emergency or revolt arising in the territory or maritime area of the other Contracting Party. the companies or nationals of either Contracting Party.
Sample 1
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Related to Expropriation or Nationalization

  • Expropriation Neither Party shall expropriate or nationalize, either directly or indirectly through measures equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") against investments of investors of the other Party in its territory, unless the following conditions are met: (a) for the public interest (15); (b) under domestic legal procedure; (c) without discrimination; and (d) against compensation.

  • No Expropriation No property or asset of the Company has been taken or expropriated by any Governmental Authority nor has any notice or proceeding in respect thereof been given or commenced nor, to the knowledge of the Company, is there any intent or proposal to give any such notice or to commence any such proceeding.

  • Seizures Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Borrower or the title and rights of any Borrower or any Original Owner which is the owner of any material portion of the Collateral shall have become the subject matter of claim, litigation, suit or other proceeding which might, in the opinion of Agent, upon final determination, result in impairment or loss of the security provided by this Agreement or the Other Documents;

  • Condemnation As of the date of origination and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, there is no proceeding pending and, to the Mortgage Loan Seller’s knowledge as of the date of origination and as of the Cut-off Date, there is no proceeding threatened for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the value, use or operation of the Mortgaged Property.

  • Condemnation/Eminent Domain In the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

  • Sabotage (a) Sabotage is of concern to all Parties involved on any work site and may affect safety, and therefore both the physical and mental wellbeing of all persons on site. (b) The Parties to this Agreement will not tolerate sabotage and will ensure that any person/s responsible for such action is immediately dismissed. (c) It is accepted that the relevant authorities may have to be notified, and provisions of the OH&S Act implemented. (d) In the event of a reasonable suspicion or proven sabotage consultation will occur between the Parties on a reasonable time frame up to a maximum of 4 hours to rectify the issue prior to Employees leaving the Project.

  • Compulsory Acquisition If the Developer fails to transfer or dedicate the Transfer Land or any land forming part of the Essential Infrastructure to the City in accordance with Schedule 3 of this document then the City may compulsorily acquire that land for the amount of

  • Seizure all or a material part of the undertaking, assets, rights or revenues of, or shares or other ownership interests in, any Security Party are seized, nationalised, expropriated or compulsorily acquired by or under the authority of any Government Entity; or

  • Eminent Domain Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.

  • Appropriation Funding under this Agreement is conditional upon an appropriation of moneys by the Legislature of Ontario to the MOHLTC and funding of the LHIN by the MOHLTC pursuant to LHSIA. If the LHIN does not receive its anticipated funding the LHIN will not be obligated to make the payments required by this Agreement.

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