OPERATION OF STEP-IN RIGHTS Sample Clauses

OPERATION OF STEP-IN RIGHTS. (a) During the Step-in Period the Agent will enjoy all rights of the Principal under the Management Contract and will be jointly and severally liable with the Principal for the performance of all the obligations of the Principal under the Management Contract which arise during the Step-in Period.
Sample 1
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OPERATION OF STEP-IN RIGHTS. During the Step-in Period the Substitute Entity shall enjoy all rights of the Borrower under the Management Agreement and shall be jointly and severally liable with the Borrower for the performance of all the obligations of the Borrower under the Management Agreement which arise during the Step-in Period and for payment of any sums which arise before the Step-in Period but, as between the Borrower and the Substitute Entity, the latter alone (to the exclusion of the Borrower) shall have the authority to deal with the Sponsor and exercise the powers and discretions available to the Borrower under the Management Agreement and the Borrower shall not be released, nor shall its liability be affected or impaired, as a result of the exercise by the Substitute Entity alone of any such authority, powers or discretions or by any other act or omission on the part of, or indulgence or release granted to, the Substitute Entity, whether or not with the knowledge or consent of the Borrower.
Sample 1
OPERATION OF STEP-IN RIGHTS. Instead of the Lender being the joint and several obligor under Section 4.1(b) the Lender may request that a Substitute Entity be appointed, and, provided that Sypps shall be satisfied as to the financial strength and technical competence of such proposed Substitute Entity Sypps shall accept such request in writing such acceptance not to be unreasonably withheld. During the Step-in Period the Lender or the Lender Assuming Party, as the case may be, shall enjoy all rights of SOMISY under the Deferred Terms Agreement and shall be jointly and severally liable with SOMISY for the performance of all the obligations of SOMISY under the Deferred Terms Agreement which arise during the Step-in Period and for payment of any sums which arise before the Step-in Period but, as between SOMISY and the Lender or the Lender Assuming Party, as the case may be, the latter alone (to the exclusion of SOMISY) shall have the authority to deal with Sypps and exercise the powers and discretions available to SOMISY under the Deferred Terms Agreement and SOMISY shall not be released, nor shall its liability be affected or impaired, as a result of the exercise by the Lender or the Lender Assuming Party, as the case may be, alone of any such authority, powers or discretions or by any other act or omission on the part of, or indulgence or release granted to, the Lender or the Lender Assuming Party, as the case may be, whether or not with the knowledge or consent of SOMISY.
Sample 1

Related to OPERATION OF STEP-IN RIGHTS

  • RESERVATION OF STOCK, ETC ISSUABLE ON EXERCISE OF WARRANT; FINANCIAL STATEMENTS. The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial and other information distributed or required to be distributed to the holders of the Company's Common Stock.

  • Aggregation of Stock All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

  • Acquisition of Stock by Third Party Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities;

  • Step-In Rights If Agios, as the Initial Enforcement Party, fails to initiate a suit or take such other appropriate action under Section 10.3(b) above within [**] days after becoming aware of the Competitive Infringement, then Celgene may, in its discretion, provide Agios with written notice of Celgene’s intent to initiate a suit or take other appropriate action to combat such Competitive Infringement. If Celgene, as the Initial Enforcement Party for the Agios Patent Rights and Agios Collaboration Patent Rights after the Agios Opt-Out Notice, fails to initiate a suit or take such other appropriate action under Section 10.3(b) above within [**] days after becoming aware of the Competitive Infringement, then Agios may, in its discretion, provide Celgene with written notice of Agios’ intent to initiate a suit or take other appropriate action to combat such Competitive Infringement. If the Party with such step-in rights under either of the two preceding sentences (“Step-In Enforcement Party”) provides such notice and the Initial Enforcement Party fails to initiate a suit or take such other appropriate action within [**] days after receipt of such notice from the Step-In Enforcement Party, then Step-In Enforcement Party shall have the right, but not the obligation, to initiate a suit or take other appropriate action that it believes is reasonably required to protect the applicable Agios Intellectual Property or Agios Collaboration Intellectual Property from Competitive Infringement. The Step-In Enforcement Party shall give the Initial Enforcement Party advance notice of the Step-In Enforcement Party’s intent to file any such suit or take any such action and the reasons therefor and shall provide the Initial Enforcement Party with an opportunity to make suggestions and comments regarding such suit or action. Thereafter, the Step-In Enforcement Party shall keep the Initial Enforcement Party promptly informed and shall from time to time consult with the Initial Enforcement Party regarding the status of any such suit or action and shall provide the Initial Enforcement Party with copies of all material documents (e.g., complaints, answers, counterclaims, material motions, orders of the court, memoranda of law and legal briefs, interrogatory responses, depositions, material pre-trial filings, expert reports, affidavits filed in court, transcripts of hearings and trial testimony, trial exhibits and notices of appeal) filed in, or otherwise relating to, such suit or action. For the avoidance of any doubt, this Section 10.3(d) shall not be applicable to any of the Celgene Collaboration Patent Rights, so Agios shall not have any right to be the Step-In Enforcement Party for Celgene Collaboration Patent Rights without the written agreement of Celgene.

  • Distribution of Stock Subject to Section 8, the Company shall cause the Participant to be the record owner of any shares of Stock to which the Participant becomes entitled to receive under this Agreement in accordance with the payment terms described in Section 3.

  • No Creation of a Partnership or Exclusive Purchase Right Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association, joint venture or other entity. No Note Holder shall have any obligation whatsoever to offer to any other Note Holder the opportunity to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if any Note Holder chooses to offer to any other Note Holder the opportunity to purchase a participation interest in any future mortgage loans originated by such Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and absolute discretion. No Note Holder shall have any obligation whatsoever to purchase from any other Note Holder a participation interest in any future loans originated by such Note Holder or its Affiliates.

  • Reservation of Stock The Company will at all times reserve and keep available, solely for issuance and delivery upon the exercise of this Warrant, such number of Warrant Shares and other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this Warrant.

  • Combination of Stock If the number of shares of Common Stock outstanding at any time after the date of the issuance of this Warrant shall have been decreased by a combination of the outstanding shares of Common Stock, then, immediately after the effective date of such combination, the number of shares of Common Stock to be delivered upon exercise of this Warrant will be decreased so that the Warrantholder thereafter will be entitled to receive the number of shares of Common Stock that such Warrantholder would have owned immediately following such action had this Warrant been exercised immediately prior thereto, and the Exercise Price will be adjusted as provided below in paragraph (g).

  • Designation of Start-up Day The Closing Date is hereby designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier REMIC within the meaning of Section 860G(a)(9) of the Code.

  • Acquisition of Shares The Borrower will not acquire any equity, share capital, assets or obligations of any corporation or other entity or permit its Shares to be held by any party other than the Shareholder.

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