Moral Obligation Sample Clauses

Moral Obligation. The parties recognize that a non-competition provision would be desirable and equitable in this Agreement, but that one cannot be included because of applicable law. The parties further recognize that, notwithstanding the foregoing and legal unenforceability of such a provision, Officer should and does have a moral and ethical obligation to Employer, its shareholders and its employees not to compete with Employer within one (1) year after any resignation from his position.
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Moral Obligation. The Municipalities shall pursue all necessary steps to secure the State of Wisconsin “moral obligation” extended to the TIF Revenue Bonds for 40% of the total public borrowing.
Moral Obligation. If the defendant is morally obligated to do the thing he promised, there is a ground for enforcing the promise. A moral obligation is sufficient consideration to support a subsequent promise to pay where the promisor has received a material benefit, although there was no original duty or liability resting on the promisor.
Moral Obligation i. A moral obligation is not enforceable as a legal right. A promise is not enforceable as a contract merely because the promisor has some moral duty to perform it. Unless a bargained- for detriment has been exchanged for the contract, contract law provides no legal basis for enforcement that rests purely on the ground that it is morally right that the promisor should perform. ii. However, courts do sometimes recognize a binding legal promise under circumstances they describe as “moral obligation.” Applies only in narrow circumstances.
Moral Obligation. The County’s obligations to pay the cost of performing its obligations under this Refunding Support Agreement, including its obligations to pay all Basic Payments and Additional Payments, shall be a moral obligation of the County, subject to annual appropriation by the Board of Supervisors.. The County Administrator or other officer charged with the responsibility for preparing the County’s Annual Budget shall include in the budget for each Fiscal Year as a single appropriation the amount of all Basic Payments and estimated Additional Payments coming due during such Fiscal Year. Throughout the term of this Refunding Support Agreement, the County Administrator or other officer charged with the responsibility for preparing the County’s Annual Budget shall deliver to the Bank and the Authority within 30 days after the adoption of the Annual Budget for each Fiscal Year, but not later than the beginning of each Fiscal Year, a certificate stating whether an amount equal to the Basic Payments and Additional Payments which will come due during such Fiscal Year has been appropriated by the Board of Supervisors in such budget. If any adopted Annual Budget does not include an appropriation of funds sufficient to pay both Basic Payments and estimated Additional Payments coming due for the relevant Fiscal Year, the Board of Supervisors shall take a roll call vote immediately after adoption of such Annual Budget acknowledging the impact of its failure to appropriate such funds. If, by the beginning of the Fiscal Year, the Board of Supervisors has not appropriated funds for the payment of both Basic Payments and estimated Additional Payments coming due for the then current Fiscal Year, the County Administrator or other officer charged with the responsibility for preparing the County’s Annual Budget shall give written notice to the Board of Supervisors of the consequences of such failure to appropriate, and request the Board of Supervisors to consider a supplemental appropriation for such purposes. If at any time the Basic Payments as determined pursuant to Section 4.1(a)(2) are insufficient to make thirty-three and one third percent (33 1/3%) of the payments of principal and interest due on the Refunding Bond in a timely manner, the Authority (or the Bank as assignee of the Authority) shall notify the County Administrator (or other officer charged with the responsibility for preparing the County’s Annual Budget) of the amount of such insufficiency, and the County Adminis...

Related to Moral Obligation

  • General Obligation Except as permitted by Clause 14.2, all Confidential Information shall be held confidential during and after the continuance of this contract and shall not be divulged in any way to any third party without the prior written approval of the other party.

  • General Obligations 1. Each Party shall apply its measures relating to the provisions of this Chapter in accordance with Article 116 (General Principles) and, in particular, shall expeditiously apply those measures so as to avoid unduly impairing or delaying trade in goods or services or conduct of investment activities under this Agreement. 2. Nothing in this Chapter shall be construed to prevent a Party from applying measures to regulate the entry of natural persons into, or their temporary stay in, its territory, including those measures necessary to protect the integrity of, and to ensure the orderly movement of natural persons across, its borders, provided that such measures are not applied in such a manner as to unduly impair or delay trade in goods or services or conduct of investment activities under this Agreement.

  • Your General Obligations 6.1 Full information You must give us any information we reasonably require for the purposes of this contract. The information must be correct, and you must not mislead or deceive us in relation to any information provided to us. 6.2 Updating information You must tell us promptly if information you have provided to us changes, including if your billing address changes or if your use of energy changes (for example, if you start running a business at the premises).

  • Several Obligations No Lender shall be responsible for the failure of any other Lender to make a Loan or to perform any other obligation to be made or performed by such other Lender hereunder, and the failure of any Lender to make a Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Lender to make any Loan or to perform any other obligation to be made or performed by such other Lender.

  • Several Obligations; Nonreliance; Violation of Law The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. Each Lender hereby represents that it is not relying on or looking to any margin stock (as defined in Regulation U of the Board) for the repayment of the Borrowings provided for herein. Anything contained in this Agreement to the contrary notwithstanding, neither the Issuing Bank nor any Lender shall be obligated to extend credit to the Borrowers in violation of any Requirement of Law.

  • General Obligations of the Parties A. Recognition of Higher Education Partner, Promotion, Marketing, and Advertising 1) When reporting and publicizing high school students’ completion of dual credit courses, degrees, or certificates, Xxxxxxx ISD will recognize Collin College as their higher education partner awarding college credit. Both Parties agree not to use the other Party’s name, logo, or likeness in any press release, marketing materials, or other public announcements without receiving prior written approval from an authorized designee. B. Understanding of the Parties 1) Both parties understand the safety and security risks inherent with minors and agree that certain risks may be unforeseeable. Further, the Parties agree that the public safety departments from both Collin College and Xxxxxxx ISD will collaborate to develop and/or review safety and security standards and/or guidelines, including emergency response. 2) In accordance with FERPA, Collin College and Xxxxxxx ISD will protect students’ privacy and guard against the unauthorized release of identifying student information and records, and comply with all applicable requirements of FERPA.

  • Several Obligations; No Liability Notwithstanding that certain of the Loan Documents now or hereafter may have been or will be executed only by or in favor of Agent in its capacity as such, and not by or in favor of the Lenders, any and all obligations on the part of Agent (if any) to make any credit available hereunder shall constitute the several (and not joint) obligations of the respective Lenders on a ratable basis, according to their respective Commitments, to make an amount of such credit not to exceed, in principal amount, at any one time outstanding, the amount of their respective Commitments. Nothing contained herein shall confer upon any Lender any interest in, or subject any Lender to any liability for, or in respect of, the business, assets, profits, losses, or liabilities of any other Lender. Each Lender shall be solely responsible for notifying its Participants of any matters relating to the Loan Documents to the extent any such notice may be required, and no Lender shall have any obligation, duty, or liability to any Participant of any other Lender. Except as provided in Section 15.7, no member of the Lender Group shall have any liability for the acts of any other member of the Lender Group. No Lender shall be responsible to any Borrower or any other Person for any failure by any other Lender (or Bank Product Provider) to fulfill its obligations to make credit available hereunder, nor to advance for such Lender (or Bank Product Provider) or on its behalf, nor to take any other action on behalf of such Lender (or Bank Product Provider) hereunder or in connection with the financing contemplated herein.

  • Borrowings; Several Obligations Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

  • Joint and Several Obligation The obligations of the Guarantors under this Guaranty are joint and several obligations of each Guarantor and may be freely enforced against each Guarantor, for the full amount of the Guaranteed Obligations, without regard to whether enforcement is sought or available against any other Guarantor.

  • Joint and Several Obligations Except as otherwise stated herein, the obligations of NYISO, Developer and Connecting Transmission Owner are several, and are neither joint nor joint and several.

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