LEGALITY DEFINITION Sample Clauses

LEGALITY DEFINITION. Introduction
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LEGALITY DEFINITION. The legality definition states the aspects of a VPA partner country’s
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LEGALITY DEFINITION. The Legality Definition (LD) sets out the core requirements of legislation applicable to timber in Viet Nam as presented in Annex II to this Agreement. The LD is based on existing laws and legislation in place and has been developed through consultation with government, private‑sector and civil‑society stakeholders in Viet Nam. After ratification of this Agreement, Viet Nam shall notify the Union of any changes pertaining to verifiers or legal references in the LD through the JIC, and the JIC shall examine the extent of the changes and the impacts on the LD at least every second year during implementation of this Agreement as specified in Annex IX. Viet Nam shall make public all relevant legislation referred to in the LD and any amendments thereto, as specified in Annex VIII. 3.1 Structure and content of the Legality Definition The LD is divided into two parts: one for Organisations and one for Households, in order to cater for: (i) differences in the regulations that apply to these two target groups; (ii) differences in the size of investment and the scope and arrangement of their activities; and (iii) assuring compatibility of the LD for these two groups and making the VNTLAS clear, specific and implementable. The differences between the LD for Organisations and the LD for Households are specified further in the introduction to Annex II. Each part of the LD consists of seven principles, with each principle divided into criteria, indicators and verifiers: – Principle I: Harvesting of domestic timber complies with regulations on land use rights, forest use rights, management, environment and society; – Principle II: Compliance with regulations on handling confiscated timber; – Principle III: Compliance with regulations on importing timber; – Principle IV: Compliance with regulations on timber transportation and trade; – Principle V: Compliance with regulations on timber processing; – Principle VI: Compliance with regulations on customs procedures for export; – Principle VII (Organisations): Compliance with regulations on tax and employees; – Principle VII (Households): Compliance with taxation regulations. To comply with the LD, Organisations and Households shall comply with all the applicable indicators under the seven principles enforced by the Verification Authority and verification entities as defined under Section 2.2.3 and Table 1. The compliance of the indicators is assessed on the basis of the applicable corresponding verifiers. For an indicator to...
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LEGALITY DEFINITION. The legality definition states the aspects of a VPA partner country’s law for which the timber legality assurance system evaluates evidence of compliance. The ad hoc Multi-stakeholder Working Group on the Legality Definition has made good progress in developing and field-testing the Thai legality definition.
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LEGALITY DEFINITION. The legality definition clearly states the aspects of Indonesian law for which the timber legality assurance system will systematically seek evidence of compliance. Indonesia has different legality definitions for different kinds of rights and permits for forest use.
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Related to LEGALITY DEFINITION

  • Key Definitions As used herein, the following terms shall have the following respective meanings:

  • Amendments to the Equity Definitions (A) Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative” and replacing them with the words “an”; and adding the phrase “or Warrants” at the end of the sentence. (B) Section 11.2(c) of the Equity Definitions is hereby amended by (x) replacing the words “a diluting or concentrative” with “an”, (y) adding the phrase “or Warrants” after the words “the relevant Shares” in the same sentence and (z) deleting the phrase “(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing it with the phrase “(and, for the avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares).” (C) Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative” and replacing them with the word “a material”; and adding the phrase “or Warrants” at the end of the sentence. (D) Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at Dealer’s option, the occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.” (E) Section 12.9(b)(iv) of the Equity Definitions is hereby amended by:

  • Amendments to Equity Definitions (i) Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) the occurrence of any of the events specified in Section 5(a)(vii)(1) through (9) of the ISDA Master Agreement with respect to that Issuer.” (ii) Section 12.9(b)(i) of the Equity Definitions is hereby amended by (1) replacing “either party may elect” with “Dealer may elect” and (2) replacing “notice to the other party” with “notice to Counterparty” in the first sentence of such section.

  • Seniority Definition Seniority is the Layoff Service Date which is the date the employee began state service (except as a temporary appointee) as adjusted for break(s)-in-service. (See Letter of Agreement 70.00-09-179 in Appendix A).

  • Other Adjustments Pursuant to the Equity Definitions Notwithstanding anything to the contrary in this Confirmation, solely for the purpose of adjusting the Cap Price, the terms “Potential Adjustment Event,” “Merger Event,” and “Tender Offer” shall each have the meanings assigned to such term in the Equity Definitions (as amended by Section 10(i)(i)), and upon the occurrence of a Merger Date, the occurrence of a Tender Offer Date, or declaration by Counterparty of the terms of any Potential Adjustment Event, respectively, as such terms are defined in the Equity Definitions, the Calculation Agent shall determine in a commercially reasonable manner whether such occurrence or declaration, as applicable, has had a material economic effect on the Transactions and, if so, may, in its commercially reasonable discretion, adjust the Cap Price to preserve the fair value of the Options to Dealer; provided that in no event shall the Cap Price be less than the Strike Price; provided further that any adjustment to the Cap Price made pursuant to this Section 10(x) shall be made without duplication of any other adjustment hereunder (including, for the avoidance of doubt, adjustment made pursuant to the provisions opposite the captions “Method of Adjustment,” “Consequences of Merger Events / Tender Offers” and “Consequence of Announcement Events” in Section 3 above).

  • Disability Defined For the purposes of this Agreement, the Executive shall be deemed to have terminated his employment by reason of “Disability”, if the Board shall determine that the physical or mental condition of the Executive prevents him from the normal performance of his duties as determined by the Board.

  • Seniority Defined Seniority is defined as the total length of service in the bargaining unit as an employee, regardless of occupational change. Seniority shall be used as one of the factors in determining preference or priority for promotion, transfers, demotions, terminations and layoff caused by force reductions and recall. Seniority shall operate on a bargaining unit wide basis.

  • Vacancy Defined A vacancy shall be defined as a newly created position, or a present position that is not filled and that the Board intends to fill.

  • Tax Definitions The following terms, as used herein, have the following meanings:

  • Amended Definition The following definition in Section 1.1 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows:

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