Irrevocable Grant Sample Clauses
An Irrevocable Grant clause establishes that a right, license, or permission given under the agreement cannot be withdrawn or revoked by the granting party. In practice, this means that once the grant is made—such as the right to use intellectual property, access certain resources, or perform specific actions—the recipient retains that right for the duration specified, regardless of changes in circumstance or the grantor’s preferences. This clause provides certainty and security to the recipient, ensuring that their ability to exercise the granted rights cannot be unilaterally rescinded, thereby reducing risk and promoting reliance on the agreement.
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Irrevocable Grant. The power of attorney granted under this Section 3.14 is coupled with an interest and is irrevocable and will survive the death, dissolution, legal incompetency, bankruptcy, and withdrawal from the Company of any Member or the transfer of its interest in the Company.
Irrevocable Grant. The foregoing grant of authority is a power of attorney coupled with an interest and such appointment shall be irrevocable until this Security Agreement is terminated and the security interests created hereby are released. Grantor hereby ratifies all that such attorneys may lawfully do or cause to be done by virtue and in accordance with the terms hereof.
Irrevocable Grant. The grant of authority provided for herein (i) is coupled with an interest and shall be irrevocable and survive the death, incompetency, bankruptcy or liquidation of any of the Sellers, and (ii) shall survive the Closing, and any action taken by the Shareholders’ Committee pursuant to the authority granted in this Agreement or under the Escrow Agreement shall be effective and absolutely binding on each Seller notwithstanding any contrary action of or direction from such holder.
Irrevocable Grant. In no event will the rights granted in this SECTION 2 be subject to termination, revocation or any further limitation, in whole or in part, for any reason, and all such rights shall remain perpetual, unlimited, and irrevocable under all circumstances.
Irrevocable Grant. The power of attorney granted under this Section -----------------
Irrevocable Grant. The Powers and additional faculties granted under this Agreement shall be irrevocable pursuant to Article 2596 (two thousand five hundred ninety six) of the Federal Civil Code and its correlatives articles in the Civil Codes for the federated entities of the United Mexican States and the Federal District, since it constitutes a condition to the effective date of the Chapter 11 Plan.
Irrevocable Grant. The Company Holders, by approving this Agreement, further agree that such agency and proxy are coupled with an interest, are therefore irrevocable without the consent of the Stockholder Representative, and shall survive the death, incapacity, bankruptcy, dissolution or liquidation of any Company Holder. All decisions and actions by the Stockholder Representative shall be binding upon all Company Holders, and no Company Holder shall have the right to object, dissent, protest or otherwise contest the same. Parent may conclusively rely, without independent verification or investigation, upon any such decision or action of the Stockholder Representative as being the binding decision or action of every Company Holder, and Parent shall not be liable to any Company Holder or any other Persons for any actions taken or omitted from being taken by them or by Parent in accordance with or reliance upon any such decision or action of the Stockholder Representative. The Stockholder Representative shall have no duties or obligations to the Company Holders hereunder, including any fiduciary duties, except those set forth herein, and such duties and obligations shall be determined solely by the express provisions of this Agreement. The power of attorney granted by each Company Holder to the Stockholder Representative pursuant to this Section 10.16 is coupled with an interest and is irrevocable and shall not terminate or otherwise be affected by the death, disability, incompetence, bankruptcy or insolvency of any Company Holder.
Irrevocable Grant. The Securityholders, by approving this Agreement, further agree that such agencies, proxies and powers of attorney are coupled with an interest, are therefore irrevocable without the consent of the Securityholder Representatives, and shall survive the death, incapacity, bankruptcy, dissolution or liquidation of any Securityholder. All decisions and actions by the Securityholder Representatives within the scope of their authority hereunder shall be binding upon all Securityholders, and no Securityholder shall have the right to object, dissent, protest or otherwise contest the same. TranS1 may conclusively rely, without independent verification or investigation, upon any such joint decision or joint action of the Securityholder Representatives as being the binding decision or action of every Securityholder, and TranS1 shall not be liable to any Securityholder or any other Persons for any actions taken or omitted from being taken by them or by TranS1 in accordance with or reliance upon any such joint decision or joint action of the Securityholder Representatives. The Securityholder Representatives shall have no duties or obligations to the Securityholders hereunder, including any fiduciary duties, except those set forth herein, and such duties and obligations shall be determined solely by the express provisions of this Agreement.
Irrevocable Grant. The power of attorney granted by this Deed is in favour of the Chargee, and any Receiver appointed under this Deed and their delegates. The Chargor hereby acknowledges that it is granted irrevocably and for value as part of the Security constituted by this Deed to secure the Secured Obligations and the Chargor ratifies and confirms, and agrees to ratify and confirm, any deed, assurance, agreement, instrument, act or thing which the Chargee or their delegates may execute or do pursuant thereto.