Limited Activities Prior to Commencement of Operations Sample Clauses

Limited Activities Prior to Commencement of Operations. Notwith- standing anything else herein, the LLC is not authorized to, and shall not, commence insurance operations or any other business or operations other than Pre-Commencement Activities until and unless the Manager shall have executed and delivered to the LLC the Commencement of Operations Certificate substantially in the form set forth in Exhibit D. "Pre-Commencement Activities" means those activities reasonably necessary in connection with raising capital, obtaining regulatory and tax determinations, permits, licenses and approvals, and otherwise preparing for Commencement of Operations provided that execution of any contract or instrument that could result in liability to the LLC (other than loss of filing or application fees or the like) shall expressly provide that it shall not become effective until Commencement of Operations.
Sample 1
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Related to Limited Activities Prior to Commencement of Operations

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • NOW, THEREFORE the parties hereto agree as follows:

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

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