Independence of the Contract Sample Clauses

Independence of the Contract. The Contract shall be independent of the Master Contract. The invalidation of the Master Contract shall not impact upon the effectiveness of the Contract. Where the Master Contract is seemed to be invalid, Party A shall bear the guarantee of joint and several liability because of the debt of return of property or compensation for losses.
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Independence of the Contract. This Contract is independent and unconditional, and has its validity exempted from the influence of the following factors, including but not limited to the effectiveness of the Credit Extension Agreement and each specific contract thereof, or any agreement and document concluded by Party B (or the Authorized Applicant) with any entity and/or individual, or any fraud, reorganization, close-down, dissolution, liquidation, bankruptcy, merger, division, restructuring and expiration of business term of Party B (or the Authorized Applicant), or any grace in time and renewal granted by Party A to Party B (or the Authorized Applicant) or Party A’s deferred performance of its right of charging debts against the Authorized Applicant as per relevant agreements. Where the creditor’s rights of Party A witness other mortgage/pledge guarantee or guarantors simultaneously, Party A shall be entitled to claim the guarantee right against each pledgor/mortgagor (with Party B inclusive) and guarantor respectively, successively or simultaneously; where Party A waives the sequence of mortgages, waives/changes/terminates other mortgage and pledge guarantee, alters or terminates the guarantee liability of guarantor(s), or delays in claiming its rights against any pledgor/mortgagor/guarantor, it exerts no influence on the guarantee liability of Party B hereunder. Instead, Party B is still obliged to assume the pledge guarantee liability for Party A as per this Contract.
Sample 1
Independence of the Contract. The contract is independent and unconditional, the effectiveness of which is neither influenced by the main contract nor any agreement or document signed by Party B with others, or is not subject to change for Party B’s fraud, reorganization, closure, breakup, bankruptcy, liquidation and so on. In case there is another mortgage guarantee or guarantor, and Party A gives up syn-position of the mortgage, gives up or changes or cancels other mortgage guarantee, or changes or cancels the liability of guarantor, or Party A requires Party B to undertake the liability of guarantee in advance, Party B still has to undertake the liability of guarantee under the contract. If Party A ceases to loan, accept or discount, or claims loan or acceptance issued, it shall not affect the liabilities borne by Party B under the contract.
Sample 1
Independence of the Contract. The effectiveness of the Contract is independent of the Principal Contract, complete or incomplete invalidity of the Principal Contract or its likely revocation has no impact on the Contract’s effectiveness. Where it is confirmed that the Principal Contract was invalid or that it was revoked, Party B undertakes further suretyship of joint and several liability for the Debtor’s debts coming into being because he surrendered properties or compensated losses. Party B’s suretyship liability under the Contract shall not change to any extent because of merger, separation, changes of shareholdings, the lapse of capacity of civil acts, disappearances, death or the declaration of disappearance or death of the Debtor, or any other causes.
Sample 1
Independence of the Contract. 4.1 This Contract is independent and unconditional. Subject only to the completion of the formalities giving effect to this Contract as provided for in Clauses 6 and 19 hereof, this Contract shall be legally binding on Parties A and B. The validity of this Contract shall not be affected by the validity of the Credit Facility Agreement and the respective specific contracts and by any agreements or documents entered into between Party B and any entity. Nor shall it be altered as a result of fraud, reorganization, winding up, dissolution, liquidation, bankruptcy or whatever on the part of Party B. 4.2 The guarantee given by Party B hereunder shall not be affected if Party A stops releasing the unutilized portion of the Loans and/or other facilities to Party B and declares that the loan advanced shall be immediately due and payable or makes claims for the same pursuant to the Credit Facility Agreement.
Sample 1
Independence of the Contract. This is an independent and unconditional Contract. Its effectiveness shall neither be affected by the effectiveness of the Credit Agreement and specific contracts, nor by the effectiveness of any agreement or document signed by Party B (or the Credit Applicant) with any unit/individual. There shall be no change to the Contract due to various changes in Party B, such as fraud, restructuring, closure, dissolution, settlement, bankruptcy, merger (acquisition), separation and system reform. Neither shall the Contract be affected in any way by your bank's [sic] offer of time limit extension or postponement to Party B (or the Credit Applicant), or of your bank's [sic] deferral in exercising its rights under the relevant agreement to collect funds owed by the Credit Applicant.
Sample 1

Related to Independence of the Contract

  • Independence of the Servicer For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this Agreement or any other Basic Document, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

  • Independence of the Parties Nothing herein shall be construed to modify, abridge, or deny the authority or discretion of any Party to independently develop, administer, or control transportation projects pursuant to enumerated authority or funding sources separate from those in this Agreement.

  • INDEPENDENCE OF THE ADVISOR For all purposes herein, the Advisor shall be deemed to be an independent contractor and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Partnership in any way and shall not be deemed an agent, promoter or sponsor of the Partnership, CMF, or any other trading advisor. The Advisor shall not be responsible to the Partnership, CMF, any trading advisor or any limited partners for any acts or omissions of any other trading advisor to the Partnership.

  • PERFORMANCE OF THE CONTRACT II.1.1. The Contractor shall perform the Contract to the highest professional standards. The Contractor shall have sole responsibility for complying with any legal obligations incumbent on him, notably those resulting from employment, tax and social legislation. II.1.2. The Contractor shall have sole responsibility for taking the necessary steps to obtain any permit or licence required for performance of the Contract under the laws and regulations in force at the place where the tasks assigned to him are to be executed. II.1.3. Without prejudice to Article II.3 any reference made to the Contractor’s staff in the Contract shall relate exclusively to individuals involved in the performance of the Contract. II.1.4. The Contractor must ensure that any staff performing the Contract have the professional qualifications and experience required for the execution of the tasks assigned to them. II.1.5. The Contractor shall neither represent the Agency nor behave in any way that would give such an impression. The Contractor shall inform third parties that he does not belong to the European public service. II.1.6. The Contractor shall have sole responsibility for the staff who execute the tasks assigned to him. II.1.7. In the event of disruption resulting from the action of a member of the Contractor's staff working on Agency premises or in the event of the expertise of a member of the Contractor's staff failing to correspond to the profile required by the Contract, the Contractor shall replace him without delay. The Agency shall have the right to request the replacement of any such member of staff, stating its reasons for so doing. Replacement staff must have the necessary qualifications and be capable of performing the Contract under the same contractual conditions. The Contractor shall be responsible for any delay in the execution of the tasks assigned to him resulting from the replacement of staff in accordance with this Article. II.1.8. Should any unforeseen event, action or omission directly or indirectly hamper execution of the tasks, either partially or totally, the Contractor shall immediately and on his own initiative record it and report it to the Agency. The report shall include a description of the problem and an indication of the date on which it started and of the remedial action taken by the Contractor to ensure full compliance with his obligations under the Contract. In such event the Contractor shall give priority to solving the problem rather than determining liability. II.1.9. Should the Contractor fail to perform his obligations under the Contract in accordance with the provisions laid down therein, the Agency may - without prejudice to its right to terminate the Contract - reduce or recover payments in proportion to the scale of the failure. In addition, the Agency may impose penalties or liquidated damages provided for in Article II.16.

  • SCOPE OF THE CONTRACT The Contractor shall perform the Services set out [in Schedule 1] [below2] in accordance with the Contract. [The Contractor’s key personnel assigned to perform the Services are: [provide a list] During the provision of the Services, if substitution of Contractor’s [key personnel] [experts] is necessary, the Contractor shall propose other experts or at least the same level of qualifications for approval by the Fund. [The Contractor shall obtain the Fund’s prior approval in writing before entering into a subcontract for engaging a subconsultant for the performance of any part of the Services.]

  • Independence of Obligations The covenants and obligations of Stockholder set forth in this Agreement shall be construed as independent of any other agreement or arrangement between Stockholder, on the one hand, and the Company or Parent, on the other. The existence of any claim or cause of action by Stockholder against the Company or Parent shall not constitute a defense to the enforcement of any of such covenants or obligations against Stockholder.

  • Independence of Parties The Servicer shall have the status of, and act as, an independent contractor. Nothing herein contained shall be construed to create a partnership or joint venture or any similar relationship between the Manager and the Servicer.

  • Independence of Provisions The parties hereto acknowledge that this Agreement and the other Loan Documents may use several different limitations, tests or measurements to regulate the same or similar matters, and that such limitations, tests and measurements are cumulative and must each be performed, except as expressly stated to the contrary in this Agreement.

  • Independence of Covenants All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

  • Independence of Administrator For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

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