Limited Resource – No Further Recovery Sample Clauses

Limited Resource – No Further Recovery. If the sole recourse under the Security Interest granted to the Trustee in the Secured Assets has been exhausted and there is a deficiency remaining due in respect of the Debentures, the Corporation will seek an opinion from a lawyer, accountant or other appropriately qualified professional acceptable to the Trustee, addressed to both the Corporation and the Trustee, as to whether further recovery under the Security Interest is likely. If such opinion is to the effect that further recovery thereunder is unlikely, the Corporation will within 21 Business Days of its receiving such opinion provide the Trustee with an Officers’ Certificate as to the amount of the deficiency which will result to each of the Debentureholders for which they will have no recourse by reason of the provisions of Section 5.1 of this Indenture. The Corporation shall cause the Trustee to, within 30 days following its receipt of a copy of the opinion and the Officers’ Certificate referred to in the immediately preceding paragraph, send to each Holder a copy of such opinion together with a statement as to the amount of the deficiency as specified in such Officers’ Certificate that will result to such Holder. In such event and conditional upon the Trustee giving such notification, the Trustee may thereafter resign its trusts hereunder by giving notice in writing to the Corporation and the Debentureholders at least 21 Business Days before the resignation is to become effective and the Trustee shall be discharged from all further duties and liabilities hereunder upon the effective date of such resignation. If the Trustee resigns pursuant to this Section 5.16, no replacement or substitute trustee shall be appointed.
Sample 1
AutoNDA by SimpleDocs

Related to Limited Resource – No Further Recovery

  • Independent Contractor; No Partnership; No Agency; No Utility Services 15.1 Company and Developer shall be independent contractors. This Agreement shall not be interpreted or construed to create an association, joint venture, agency relationship, or partnership between the Parties or to impose any partnership obligation or partnership liability upon any Party. No Party shall have any right, power or authority to enter into any agreement or undertaking for, or act on behalf of, or to act as or be an agent or representative of, or to otherwise bind, the other Party. This Agreement is not an agreement to provide or take utility services of any kind, including, without limitation, interconnection or other electric transmission services.

  • RELEASE OF GENERAL INFORMATION TO THE PUBLIC AND MEDIA NASA or Partner may, consistent with Federal law and this Agreement, release general information regarding its own participation in this Agreement as desired. Pursuant to Section 841(d) of the NASA Transition Authorization Act of 2017, Public Law 115-10 (the "NTAA"), NASA is obligated to publicly disclose copies of all agreements conducted pursuant to NASA's 51 U.S.C. §20113(e) authority in a searchable format on the NASA website within 60 days after the agreement is signed by the Parties. The Parties acknowledge that a copy of this Agreement will be disclosed, without redactions, in accordance with the NTAA.

  • Allocation and use of scarce resources Any procedures for the allocation and use of scarce resources, including frequencies, numbers and rights of way, will be carried out in an objective, timely, transparent and non-discriminatory manner. The current state of allocated frequency bands will be made publicly available, but detailed identification of frequencies allocated for specific government uses is not required.

  • Special Aggregation Rule Applicable to Relationship Managers For purposes of determining the aggregate balance or value of accounts held by a person to determine whether an account is a High Value Account, a Reporting Financial Institution shall also be required, in the case of any accounts that a relationship manager knows or has reason to know are directly or indirectly owned, controlled, or established (other than in a fiduciary capacity) by the same person, to aggregate all such accounts.

  • Proposing Integration Activities in the Planning Submission No integration activity described in section 6.3 may be proposed in a CAPS unless the LHIN has consented, in writing, to its inclusion pursuant to the process set out in section 6.3(b).

  • Cost Responsibility for Network Upgrades 9 5.1 Applicability 9 5.2 Network Upgrades 9

  • PERFORMING AGENCY RESPONSIBILITY FOR SYSTEM AGENCY’S TERMINATION COSTS If the System Agency terminates the Contract for cause, the Performing Agency shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Performing Agency. These costs include, but are not limited to, the costs of procuring a substitute vendor and the cost of any claim or litigation attributable to Performing Agency’s failure to perform any Work in accordance with the terms of the Contract.

  • NOTICE TO EMPLOYEES REGARDING THE SAFELY SURRENDERED BABY LAW The Contractor shall notify and provide to its employees, and shall require each Subcontractor to notify and provide to its employees, a fact sheet regarding the Safely Surrendered Baby Law, its implementation in Los Angeles County, and where and how to safely surrender a baby. The fact sheet is set forth in Exhibit I of this Contract and is also available on the Internet at xxx.xxxxxxxxxx.xxx for printing purposes.

  • Allocation of Resources So that the mutually agreed­upon objectives of the agreement can be adequately met, resources from the School Board and the DJJ will be allocated based on the previously identified roles and responsibilities of each agency. XXX agrees to the following:

  • Cost Responsibility for Interconnection Facilities and Distribution Upgrades 4.1 Interconnection Facilities 4.2 Distribution Upgrades

Time is Money Join Law Insider Premium to draft better contracts faster.