OCS Undertaking. To the extent that at any time hereinafter a Lender shall hold such number of securities of the Company such that it shall be legally required to sign an undertaking to the OCS, then such Lender shall sign such undertaking as may be required by the OCS at such time.
OCS Undertaking. Parent shall have executed the OCS Undertaking and delivered it to the OCS.
OCS Undertaking. Each Purchaser hereby agrees to execute an undertaking to the Israeli Office of the Chief Scientist in the form required by the Israeli Office of the Chief Scientist if such Purchaser shall hold 5% or more of the issued and outstanding Ordinary Shares.
OCS Undertaking. Parent shall have executed and filed with the Office of Chief Scientist an undertaking in the Office of Chief Scientist’s standard form.
OCS Undertaking. The Lenders shall have executed the document attached hereto as Exhibit K as required by the OCS.
OCS Undertaking. The Company shall have received a fully executed letter of undertaking from the Purchaser addressed to the OCS within the Israeli Ministry of Economy and Industry, substantially in the form attached hereto as Exhibit D.
OCS Undertaking. Xxxxx shall have executed and delivered the standard form of foreign shareholder undertaking to the Office of Chief Scientist in the Israel Ministry of Industry and Trade, in the form of Schedule 8.3(d) attached hereto.
OCS Undertaking. Each Shareholders acknowledges that he is aware that Fundtech has received funding for certain research and development projects from the government of the State of Israel through the Office of the Chief Scientist under the Encouragement of Research and Development in Industry Law 577-1984 (the "OCS Law") and the regulations thereunder, and that the OCS Law places strict constraints on the transfer of know-how and production rights. In particular, all such transfers of know-how and production rights are subject to the absolute discretion of the Research Committee of the Office of the Chief Scientist and require the prior written approval of such committee. Each Shareholder undertakes to observe strictly all the requirements of the OCS Law, as applied to Fundtech and as directed by the Research Committee, including those requirements stipulated under Section 19 of the OCS Law relating to the prohibition on the transfer of know-how and production rights.
OCS Undertaking. In the event that as result of the issuance of the Securities or following the Closing the Investor will hold 5% or more of the Company’s share capital the Investor shall execute and deliver to the Company upon its request an undertaking to the Office of the Chief Scientist of the Ministry of Economy of the State of Israel (the “OCS”) in the standard form required by the OCS.
OCS Undertaking. As of the date hereof and upon the issuance of the Shares, the Investor will not hold 5% or more of the Company's issued share capital or of the voting rights in the Company. In the event that, upon the issuance of the Shares the Investor holds 5% or more of the Company's issued share capital or of the voting rights in the Company, then, upon such issuance, the investor shall deliver to the Company an executed copy of an Undertaking towards the OCS substantially in the form attached hereto as Annex A or in any other form required by the OCS.
