NATURE AND TERM Clause Samples
The "Nature and Term" clause defines the fundamental characteristics of the agreement and specifies its duration. It typically outlines whether the agreement is exclusive or non-exclusive, the start date, and the period for which the agreement will remain in effect, including any provisions for renewal or extension. By clearly establishing the type and length of the contractual relationship, this clause ensures both parties understand the scope and timeframe of their obligations, thereby reducing uncertainty and potential disputes over the agreement's validity or expiration.
NATURE AND TERM. OF GRANT 1 1.1 Grant of Franchise. 1
NATURE AND TERM. (a) The obligations and liability of CompuCredit under this Agreement shall be independent, absolute, primary and direct, irrevocable and unconditional, regardless of any non-perfection of any collateral security for the Obligations; any lack of validity or enforceability of the Loan Agreement or any Note or any of the Obligations; the voluntary or involuntary liquidation, dissolution, sale or other disposition of all, or substantially all of the assets, marshalling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition with creditors or readjustment of, or other similar proceedings affecting Borrower, CompuCredit or any guarantor of any or all of the Obligations or any of the assets of any of them, or any contest of the validity of this Agreement in any such proceeding; or any law, regulation or decree now or hereafter in effect in any jurisdiction which might in any manner affect any of such terms or provisions or any of the rights of Agent and Lenders with respect thereto or which might cause or permit Borrower or any guarantor of the Obligations to invoke any defense to, or any alteration in the time, amount or manner of payment of any or all of the Obligations or performance of this Agreement.
(b) The adjudication of bankruptcy of CompuCredit shall not revoke this Agreement.
(c) This Agreement shall remain in full force and effect until the Obligations and any and all other amounts payable hereunder shall have been paid in full and no further loans or advances are available under the Loan Agreement and the period during which any payment by Borrower or CompuCredit is or may be subject to rescission, avoidance or refund under the Bankruptcy Code (or any similar state statute) shall have expired.
NATURE AND TERM. The National Legislative Commission appointed by --------------- the National Constitutional Assembly shall exercise in a provisional status until the effective installation of the National Assembly, all jurisdictional and competent authority attributed by the Decree governing the Method of Transfer of Public Power, published in the National Journal of the Republic of Venezuela number 36,859 dated December 29, 1999 by the Decree governing Expansion of the Jurisdictional Authority of the National Legislative Commission published in the Official Journal of the Republic of Venezuela No. 36,884 dated February 3, 2000, and by this Regulation.