Non-Speculation. This Agreement and each Transaction has been and will be, entered into not for the purpose of speculation but solely in connection with the financing activities of Party B, including, without limitation, increasing the predictability of cash flow, including earnings on invested funds, and otherwise improving Party B’s ability to manage its funds and revenues.
Non-Speculation. Each of Party A and Party B are entering into the Transactions under this Agreement for the purposes of managing its borrowings and investments, hedging its underlying assets and liabilities or in connection with a line of business, and not for the purpose of speculation.
Non-Speculation. This Agreement has been, and each Transaction hereunder will be (and, if applicable, has been), entered into for purposes of managing its borrowings or investments, hedging its underlying assets or liabilities or in connection with its line of business (including financial intermediation services) or the financing of its business and not for purposes of speculation.”
Non-Speculation. This Agreement and each Transaction has been and will be, entered into not for the purpose of speculation but solely in connection with the business activities of Party B.
Non-Speculation. This Agreement has been, and each Transaction hereunder will be (and, if applicable, has been), entered into for purposes of managing its borrowings or investments and not for purposes of speculation.”
(iv) Section 3 of this Agreement is hereby amended by adding the following subsection “(f)” thereto:
Non-Speculation. This Agreement has been, and each Transaction hereunder will be (and, if applicable, has been), entered into for purposes of managing its borrowings or investments and not for purposes of speculation." The amendments provided herein shall not be applicable to the representation of or by Party A made in or deemed repeated pursuant to Section 3 of the Agreement.
Non-Speculation. This Agreement has been, and each Transaction hereunder will be (and, if applicable, has been), on the part of CDWR, entered into for purposes of managing its natural gas price exposure and not for purposes of speculation or other purposes not specifically authorized by law.
d) Section 13(a), Governing Law, is amended to read: This Agreement will be governed by and construed in accordance with the laws of the State of California.
e) Section 13(b)(i), Jurisdiction, is amended to read: submits to the exclusive jurisdiction of the courts of the State of California.
f) Section 13(d), Waiver of Immunities, is amended to read: [Counterparty] irrevocably waives, to the extent permitted by applicable law, with respect to itself and its revenues and assets (irrespective of their use or intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit, (ii) jurisdiction of any court, (iii) relief by way of injunction or order for specific performance or recovery of property; (iv) attachment of its assets (whether before or after judgment) and (v) execution or enforcement of any judgment to which it or its revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the extent permitted by applicable law, that it will not claim any such immunity in any Proceedings. California law authorizes suits based on contract against the State or its agencies (including, without limitation CDWR), and, to the extent permitted by law, CDWR agrees that it will not assert any immunity it may have as a state agency against such lawsuits filed in state court.
g) Limited Recourse: the Schedule shall include the following provision: Limited Recourse. The obligation of CDWR to make payments hereunder shall be limited solely to the Department of Water Resources Electric Power Fund established by Section 80200 of the California Water Code (the "Fund") and shall be payable from the revenues of the Fund subject to any priorities and limitations established with respect to the Fund's operating expenses in any indenture providing for the issuance of bonds issued by CDWR under Section 80130 et seq. of the California Water Code or any agreement entered into by CDWR with the California Public Utilities Commission pursuant to Section 80110 of the California Water Code. Notwithstanding anything to the contrary herein, no liens or pledges or assignments of the Fund are granted hereunder. Any liability of...
Non-Speculation. Party B represents and warrants to Party A that this Agreement has been, and each Transaction hereunder will be, entered into for purposes of managing of its borrowings or investments or in connection with a line of business and not for the purpose of speculation;
Non-Speculation. This Agreement has been, and each Transaction has been and will be entered into not for purpose of speculation but solely in connection with the financing activities of Party B, including without limitation converting interest on all or a portion of certain of Party B’s debt from a fixed rate to a floating rate, or from a floating rate to a fixed rate, or from one floating rate to a different floating rate, reducing the cost of borrowing on its outstanding debt by optimizing the relative amounts of fixed and floating rate obligations or the risk of variations in its debt service costs, and by increasing the predictability of cash flow from earnings on invested funds and thereby improving Party B’s ability to manage its funds and revenues.
Non-Speculation. The Purchaser represents to the Vendor and upon which representation the Vendor has relied in accepting the Purchaser’s offer that he is purchasing the Property for his own personal use and not for short term speculative purposes. Prior to the Closing Date, the Purchaser covenants and agrees not to post any signs for sale or let the Property for sale, or advise others that the Property is or may be available for sale, offer for sale or sell, the Property or to enter into any agreement, conditional or otherwise, to sell the Property, or any interest therein, nor to assign this Agreement or any interest therein, or the benefit thereof, either directly or indirectly, to any person without the prior written consent of the Vendor, which consent may be arbitrarily withheld or delayed. Any offering for sale, assignment or attempted assignment of this Agreement shall constitute a fundamental breach of contract (hereinafter in this Agreement referred to as a “FBOC) which shall at the Vendor’s sole option, entitle the Vendor to terminate this Agreement and the Vendor shall be entitled to retain the deposit monies as liquidated damages and not as a penalty and the Purchaser shall have no further right to or interest in the Property.
