Intercorporate Obligations Sample Clauses

Intercorporate Obligations. 7.8.1 Unless otherwise instructed by the Agent, if and for as long as a Default has occurred and is continuing, or would result from payment of Intercorporate Obligations by one Restricted Party to another, payment of Intercorporate Obligations shall be and is hereby postponed to the indefeasible payment in full in cash of the Obligations and the Other Secured Obligations and: (a) any Restricted Party that is indebted to another Restricted Party shall neither make nor be entitled to make and any Restricted Party to whom the Intercorporate Obligations are owed shall not receive or be entitled to receive any payment, prepayment or other compensation in respect of the Intercorporate Obligations, and if a Restricted Party to whom the Intercorporate Obligations are owed receives any payment, prepayment or other compensation in respect of the Debt contrary to this Section 7.8.1, the payment, prepayment or compensation shall be held by the recipient Restricted Party in trust for the Agent and the Lenders and holders of Other Secured Obligations (including Affiliates of Lenders, Former Lenders and Affiliates of Former Lenders), separate and apart from its own property, and shall be immediately paid over to the Agent on behalf of the Lenders for application to the Obligations and Other Secured Obligations; (b) no Restricted Party to whom the Intercorporate Obligations are owed shall be entitled to accelerate the time for payment of the Intercorporate Obligations, petition the indebted Restricted Party into bankruptcy or participate in any bankruptcy proceeding of the indebted Restricted Party, initiate or participate in any similar proceeding (including a proceeding in respect of the indebted Restricted Party under the Companies’ Creditors Arrangement Act (Canada)), or initiate or participate any proceeding claiming judgment for payment or performance of any of those Intercorporate Obligations. 7.8.2 Each Obligor that has granted Security acknowledges that, under the terms of such Security, all Intercorporate Obligations owing to it are assigned as security to the Agent and the Lenders. Upon any Obligations becoming due and payable under Section 8.2, the Agent on behalf of the Lenders may with the consent of the Required Lenders terminate the postponement in Section 7.8.1 as to any or all Intercorporate Obligations, in which case those Intercorporate Obligations shall be paid to the Agent on behalf of the Lenders or as the Required Lenders direct free of any set of...
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Intercorporate Obligations. On or before the Closing Date and notwithstanding anything to the contrary provided herein: (a) Vendor shall cause any indebtedness of the Corporation and the Subsidiaries to Unocal Canada Limited or Vendor’s Affiliates to be paid or otherwise satisfied, including by set-off; (b) Vendor shall, and shall cause its Affiliates to, pay or otherwise satisfy any amounts owed by them to the Corporation and the Subsidiaries and to facilitate that payment shall cause an amount in value of the Preferred Shares held by Unocal Canada Limited equal to the amount of the note receivable outstanding on the date hereof and owed by Unocal Canada Limited to the Corporation to be redeemed by the Corporation in exchange for the distribution to Unocal Canada Limited of cash of that amount; (c) Vendor shall use reasonable commercial efforts to cause any guarantees, credit support or other financial assurances provided by Vendor or its Affiliates to counterparties who have Contracts with the Corporation or any Subsidiary to be released in a manner that does not have a Material Adverse Effect subject to Purchaser complying with its obligations in this Section 9.4; and (d) Vendor shall cause the Syndicated Credit Agreement to be amended to remove the Corporation as a borrower thereunder and the Demand Credit Agreement to be cancelled. Purchaser will at Vendor’s request at any time as part of the Closing furnish any guarantees, credit support or other financial assurances as may be required by the counterparties referred to in Section 9.4(c) so that Vendor and its Affiliates can be released from their obligations in that regard.
Intercorporate Obligations. 48 9.5 Access to Books and Records and Other Assets.....................48 9.6 Confidentiality..................................................49 9.7 Actions to Satisfy Closing Conditions............................49 9.8
Intercorporate Obligations unsecured Debt owed by the Borrower to IMG that is postponed and subordinated in favour of payment of the Obligations and Other Secured Obligations pursuant to either the guarantee by IMG required under Section 3.1(1) or another agreement on terms satisfactory to the Lenders;
Intercorporate Obligations. Each Obligor or Subsidiary of the Borrower which is a creditor of another Obligor or Subsidiary of the Borrower has executed and delivered to the Agent a Postponement and Subordination Agreement (it being understood that provisions comparable to the terms of such Postponement and Subordination Agreement may be embedded in a Guarantee or a Security Document).

Related to Intercorporate Obligations

  • Corporate Obligation No recourse may be taken, directly or indirectly, against any incorporator, subscriber to the capital stock, stockholder, officer, director or employee of the Company or the Trustee or of any predecessor or successor of the Company or the Trustee with respect to the Company's obligations on the Securities or the obligations of the Company or the Trustee under this Indenture or any certificate or other writing delivered in connection herewith. ARTICLE TWO

  • Separate Obligations These obligations are independent of Borrower’s obligations and separate actions may be brought against Guarantor (whether action is brought against Borrower or whether Borrower is joined in the action).

  • Indenture and Notes Solely Corporate Obligations No recourse for the payment of the principal of or accrued and unpaid interest on any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Note, nor because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, Officer or director or Subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes.

  • Client Obligations 3.1 The Client warrants and represents that: 3.1.1 it shall co-operate with Centaur as required for the proper performance of the Services; 3.1.2 it shall provide, for Centaur, its agents, subcontractors, consultants and employees, in a timely manner and at no charge, access to the Client's premises during normal office hours (being Monday – Friday 8am – 6pm), office accommodation, data and other facilities as is reasonably required by Centaur or any of them for the proper performance of the Services; 3.1.3 all information it has provided to Centaur in relation to the Services as at the date of the Order Form is accurate, complete and is not misleading and it shall provide, in a timely manner, such further information and Client Material as Centaur may require for the proper performance of the Services, and ensure that such information and Client Material is accurate, complete and not misleading; 3.1.4 it shall be responsible (at its own cost) for preparing and maintaining the relevant premises for the supply of the Services; 3.1.5 it shall inform Centaur of all health and safety rules and regulations and any other reasonable security requirements that apply at any of the Client's premises; 3.1.6 it shall only use the Services for internal business purposes and, without prejudice to the foregoing, shall not use the Services, the Deliverables or any Centaur Materials to develop a product or service that competes with any of the products or services provided by Centaur; 3.1.7 the Client Materials shall not infringe any third party rights, including any third party Intellectual Property Rights; and 3.1.8 it shall obtain and maintain all necessary licences and consents and comply with all relevant legislation in relation to the Services, before the date on which the Services are to start. 3.2 If Centaur's performance of its obligations under this Agreement is prevented or delayed by any act or omission of the Client, its agents, subcontractors, consultants or employees, Centaur shall not be liable for any costs, charges or losses sustained or incurred by the Client that arise directly or indirectly from such prevention or delay.

  • Indenture and Securities Solely Corporate Obligations No recourse for the payment of the principal of or premium, if any, or interest on any Security, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, officer, or director or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities.

  • Recipient Obligations 2.1 The Recipient agrees to support the Project in accordance with this Agreement. 2.2 In supporting the Project, the Recipient must: (a) exercise reasonable diligence, care and skill; (b) administer the Funding in accordance with the Agreement to support the Fellow to complete the Project; (c) not replace the Fellow named in the Application with another person; (d) complete the Project Deliverables by the relevant Deliverable due dates. This includes the provision of the required Reports, Financial Acquittal Statements and valid tax invoices; (e) ensure that the Fellow completes the Project Milestones annually; (f) ensure it makes the Recipient Contribution to the Project as per the Application and summarised in Item 11 of Schedule 1; (g) ensure the Partners provide the Partner Contributions to the Project as per the Application and summarised in Item 12 of Schedule 1; (h) ensure that the Project expenditure is managed in accordance with the project expenditure table in the Application; (i) notify the Department within 20 Business Days of any matter that may affect the Fellow or Recipient’s eligibility for funding under the Guidelines, including but not limited to: (i) the Fellow ceasing employment with the Recipient; (ii) the Fellow moving residence to outside of Queensland; (iii) the Fellow travelling outside of Queensland for more than six weeks; (iv) the Fellow taking extended leave or being unable to undertake the Project for an extended period; (v) the Fellow changing the proportion of their time committed to the Project; (vi) the Recipient Contributions or Partner Contributions changing; (vii) the Project Partner organisations changing; and (viii) the Project expenditure changing. (j) ensure that (where relevant): (i) the Project complies with National Health and Medical Research Council Guidelines; (ii) the Project complies with the Code of Ethical Practice for Biotechnology in Queensland; (iii) the Project is cleared by all relevant ethical committees prescribed by the Recipient organisation’s research rules; and (iv) evidence of compliance with this clause is provided, if requested by the Department; (k) not assign, transfer or subcontract its obligations, without prior written consent of the Department; (l) notify the Department of any breach of these terms or any matter that may affect the performance of the Agreement; and (m) comply with all relevant laws.

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Developer Obligations In accordance with applicable NYISO requirements, Developer shall maintain satisfactory operating communications with Connecting Transmission Owner and NYISO. Developer shall provide standard voice line, dedicated voice line and facsimile communications at its Large Generating Facility control room or central dispatch facility through use of either the public telephone system, or a voice communications system that does not rely on the public telephone system. Developer shall also provide the dedicated data circuit(s) necessary to provide Developer data to Connecting Transmission Owner and NYISO as set forth in Appendix D hereto. The data circuit(s) shall extend from the Large Generating Facility to the location(s) specified by Connecting Transmission Owner and NYISO. Any required maintenance of such communications equipment shall be performed by Developer. Operational communications shall be activated and maintained under, but not be limited to, the following events: system paralleling or separation, scheduled and unscheduled shutdowns, equipment clearances, and hourly and daily load data.

  • Business Associate Obligations Business Associate agrees to comply with applicable federal confidentiality and security laws, specifically the provisions of the HIPAA Rules and the HITECH Act applicable to business associates, including: 2.1 Use and Disclosure of PHI. Except as otherwise permitted by this Agreement, the HIPAA Rules, or applicable law, Business Associate shall not make any uses or disclosures of PHI except as necessary to provide services to, or on behalf of, Covered Entity as described in the Underlying Agreement, and shall not use or disclose PHI that would violate the HIPAA Rules or HITECH Act if used or disclosed by Covered Entity; provided, however, Business Associate may use and disclose PHI as necessary for the proper management and administration of Business Associate, or to carry out its legal responsibilities, consistent with Covered Entity’s minimum necessary policies and procedures. Business Associate may not use or disclose PHI which it creates, receives, maintains or transmits for or on behalf of the Covered Entity for any purpose except as otherwise provided by the Agreement and this BAA. Business Associate agrees to review and understand any state privacy and security laws to the extent that such laws are not preempted by HIPAA, as may be amended from time to time. Business Associate acknowledges that it shall comply specifically with the HIPAA Security Rule, and, to the extent that Business Associate is to carry out one or more of Covered Entity’s obligations under the Privacy Rule, it shall comply with the requirements of the Privacy Rule which apply to Covered Entity in the performance of such obligation(s). Business Associate shall in such cases: 2.1.1 provide information to members of its workforce using or disclosing PHI regarding the confidentiality requirements in the HIPAA Rules and this Agreement; 2.1.2 obtain reasonable assurances, in writing from the person or entity to whom the PHI is disclosed that: (i) the PHI will be held in confidence and further used and disclosed only as required by law or for the purpose for which it was disclosed to the person or entity; and (ii) the person or entity will notify Business Associate of any instances of which it is aware in which confidentiality of the PHI has been breached; and 2.1.3 agree to notify the Privacy Officer of Covered Entity of any instances of which it is aware in which the PHI is used or disclosed for a purpose that is not otherwise provided for in this Agreement or for a purpose not expressly permitted by the HIPAA Rules or HITECH Act. 2.2 Marketing; Sale of PHI. Business Associate may not use or disclose PHI for marketing purposes. Marketing includes any communication which would encourage the recipient to use or purchase a product or service. Business Associate may not use or disclose PHI where it has directly or indirectly received remuneration, financial or otherwise, from or on behalf of the recipient of the PHI in exchange for the PHI. “Sale” is not limited to circumstances where a transfer of ownership occurs, and would include access, license or lease agreements.

  • CORPORATE INTEGRITY OBLIGATIONS Indivior shall establish and maintain a Compliance Program that includes the following elements:

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