Notwithstanding Subsection Clause Samples
A "Notwithstanding Subsection" clause establishes that the provision it introduces will take precedence over specific subsections of the agreement, even if those subsections would otherwise conflict. In practice, this clause is used to carve out exceptions or override certain rules set out earlier in the contract, ensuring that the new provision applies regardless of what those subsections state. Its core function is to resolve potential conflicts within the contract by clearly indicating which terms should prevail, thereby ensuring clarity and reducing ambiguity in the interpretation of the agreement.
Notwithstanding Subsection. 12.1, the Federation shall be entitled to apply to a court of law respecting the exercise of any extraordinary recourse, seizure before judgment or other recourse based on the fraud or deceitful manoeuvres of the Merchant, respecting the exercise of a property right by the Federation or respecting the recovery of any amount owing to the Federation by the Merchant, including the amount identified in Subsection 6.1.
Notwithstanding Subsection. (a), a party may assign its rights and interests under this Agreement to an entity that is its Affiliate as of the date of such assignment; provided that such assignment does not relieve the assigning party of any of its responsibilities or obligations hereunder and the assignee agrees to be bound by all obligations of the assigning party hereunder, including the obligations set forth in this Section 16.6.
Notwithstanding Subsection. 02 (b), the assignment of work and the rejection of a new employee on probation is not arbitrable.
Notwithstanding Subsection. 2.10(a), while any Event of Default exists or after acceleration, the Company shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the amount of all outstanding Obligations, at a rate per annum which is determined by adding 2% per annum to the applicable interest rate otherwise then in effect for such Loans; PROVIDED, HOWEVER, that on and after the expiration of any Interest Period applicable to any Offshore Rate Loan outstanding on the date of occurrence of such Event of Default or acceleration, the principal amount of such Loan shall, during the continuation of such Event of Default or after acceleration, bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin plus 2%.
Notwithstanding Subsection. 2.08(1), the Borrower shall from time to time as required by the Lenders provide to the Lenders an appropriate number of Drafts drawn by the Borrower upon each BA Lender and either payable to the Clearing House (if such BA Lender is a Member) or payable to the Borrower and endorsed in blank by the Borrower (if such BA Lender is not a Member), and an appropriate number of executed BA Equivalent Notes in favour of each Non BA Lender. The dates, maturity dates and principal amounts of all Drafts and BA Equivalent Notes delivered by the Borrower shall be left blank, to be completed by the Lenders as required hereby. All such Drafts and BA Equivalent Notes shall be held by each Lender subject to the same degree of care as if they were such Lender's own property. Each Lender will, upon written request by the Borrower, promptly advise the Borrower of the number and designations, if any, of the Drafts and BA Equivalent Notes then held by it. No Lender shall be liable for its failure to accept a Draft or purchase a BA Equivalent Note as required hereby if the cause of such failure is, in whole or in part, due to the failure of the Borrower to provide appropriate Drafts or BA Equivalent Notes to the Agent on a timely basis.
Notwithstanding Subsection. 19.12.1, the Agent shall be entitled, in its sole discretion, to require that the Borrowers (a) make the payments or repayments or maintain the deposits required to be made or maintained under Section 19.12.1; or (b) fully hedge, to the reasonable satisfaction of the Agent, the excess hereinafter referred to in this subsection 19.12.2 and assign the benefit of all hedging contracts to the Agent in any case where the sum of (i) the equivalent amount in US Dollars of Loans in Canadian Dollars and (ii) the Loans in US Dollars, exceeds the available amount of the Credit.