Insolvency Proceedings against the Sovereign and Local Authorities Sample Clauses

Insolvency Proceedings against the Sovereign and Local Authorities. Pursuant to the Bankruptcy Act, a state (for example, the Republic of Finland), the Province of Åland, a municipality, a federation of municipalities (in Finnish: kuntayhtymä) or another municipal co-operative body under public law, a State enterprise10 or an independent agency under public law (in Finnish: julkisoikeudellinen laitos)11 cannot be declared bankrupt.12 Therefore, the 10 Currently, the Senate Properties (in Finnish: Senaatti-kiinteistöt). 11 Such as the Bank of Finland and Kela (the Finnish Social Insurance Institution, in Finnish: Kansaneläkelaitos). Sovereign and Local Authorities are not eligible to be placed in bankruptcy (in Finnish: konkurssikelpoisuus).
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Related to Insolvency Proceedings against the Sovereign and Local Authorities

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  • Invoicing for Charges Against the Judicial Council’s Master Account A. The Contractor shall establish a Master Account for the Judicial Council’s charges provided for under the exhibits of this Agreement.

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  • Protection Against Loss of Future District Revenues Section 4.1. INTENT OF THE PARTIES. Subject only to the limitations contained in this Agreement (including Section 7.1 of this Agreement), it is the intent of the Parties that the District shall, in accordance with the provisions of Section 313.027(f)(l) of the TEXAS TAX CODE, be compensated by Applicant for any loss that District incurs in its Maintenance and Operations Revenue in each year of this Agreement for which this Agreement was, in any manner, a producing cause, resulting, at least in part because of or on account of, the execution of this Agreement. Such payments shall be independent of, and in addition to such other payments as set forth in Article V and Article VI in this Agreement. Subject only to the limitations contained in this Agreement (including Section 7.1 of this Agreement), it is the intent of the Parties that the risk of any and all negative financial consequences to the District’s total annual Maintenance and Operations Revenue, to which the execution of this Agreement contributed in any manner, will be borne solely by Applicant and not by the District. The Parties hereto expressly understand and agree that, for all Tax Years to which this Agreement may apply, the calculation of negative financial consequences will be defined for each applicable Tax Year in accordance with the Applicable School Finance Law, as defined in Section 1.2 above, and that such definition specifically contemplates that calculations made under this Agreement may well periodically change in accordance with changes made from time to time in the Applicable School Finance Law. The Parties further agree that the printouts and projections produced during the negotiations and approval of this Agreement are: (i) for illustrative purposes only, are not intended to be relied upon, and have not been relied upon by the Parties as a prediction of future consequences to either Party to the Agreement; (ii) are based upon current School Finance Law, which is subject to change by statute, by administrative regulation, or by judicial decision at any time; and (iii) may change in future years to reflect changes in the Applicable School Finance Law.

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  • PROHIBITION ON CONTRACTS WITH COMPANIES BOYCOTTING ISRAEL CERTIFICATION As required by Chapter 2271 of the Texas Local Government Code the Contractor must verify that it 1) does not boycott Israel; and 2) will not boycott Israel during the term of the Contract. Pursuant to Section 2271.001, Texas Government Code:

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  • General Enforcement Authority That the terms of this Agreement shall be enforced in accordance with the provisions, terms and authorities provided in this Agreement and under the respective laws and regulations of each Participating State.

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