Organization and Interest of Parties Sample Clauses

Organization and Interest of Parties. IMEX and QES agree to enter into a joint venture (the “JV”), with IMEX to function as general operator in charge of the day to operations of the JV. The name of the corporation shall be “Carib Green Industries” or such other name the Management Committee properly decides from time to time. The Interests in the Joint Venture shall be as follows: IMEX 40 % QES 60 %
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Organization and Interest of Parties. The Governing Group has used the respective number of housing units which each Member administers pursuant to the legislation as a means of determining their respective proportionate share of ownership of the Software, more specifically based on the Service Manager Annual Information Return (“XXXXX”) 2011 data. The Governing Group has utilized the same proportional measure for determining their respective financial responsibility for the costs associated with the development of the Software and to establish each Member’s maximum financial contribution. The respective ownership interest of each Member of the Governing Group is set out below: Member All Units XXXXX 2011 % Ownership “Interest" Member Maximum Financial Contribution 1 Halton 4,203 6.1% $ 91,521 2 Hamilton 12,948 18.8% $ 281,944 3 Windsor 8,566 12.4% $ 186,526 4 Waterloo 7,615 11.1% $ 165,817 5 York 6,210 9.0% $ 135,223 6 Chatham-Kent 1,592 2.3% $ 34,666 7 London 7,861 11.4% $ 171,174 8 Ottawa 19,891 28.9% $ 433,129 68,886 100% $ 1,500,000
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Organization and Interest of Parties. GI and QES agree to incorporate a joint venture corporation (the “Joint Venture corporation”), which corporation shall is authorized to issue 50,000 common shares or such number of shares as the parties may agree upon. The name of the corporation shall be QES India PVT. LTD or such other name the Management Committee may deem proper from time to time. Common Shares of the Joint Venture Corporation shall be issued in equal numbers to each of the Parties for their respective contributions as set out in Paragraphs 3.1, 3.2 and 4.1 so that the resulting Interest of the Joint Venture Corporation shall be as follows: GI 51 % of issued Common shares QES 49 % of issued Common shares
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Related to Organization and Interest of Parties

  • Deemed Payment of Principal and Interest; Settlement of Accrued Interest Notwithstanding Conversion If a Holder converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and, except as provided in Section 5.02(D), the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date. As a result, except as provided in Section 5.02(D), any accrued and unpaid interest on a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, subject to Section 5.02(D), if the Conversion Consideration for a Note consists of both cash and shares of Common Stock, then accrued and unpaid interest that is deemed to be paid therewith will be deemed to be paid first out of such cash.

  • Collection of Indebtedness and Suits for Enforcement by Indenture Trustee (a) If (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five (5) Business Days, or (ii) default is made in the payment of the principal of any Note when the same becomes due and payable, the Issuer shall, upon demand of the Indenture Trustee, pay to the Indenture Trustee, for the benefit of the Holders of the Notes, the amount then due and payable on the Notes for principal and interest, with interest upon the overdue principal at the applicable Note Rate and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest at the applicable Note Rate and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel and other amounts due and owing to the Indenture Trustee pursuant to Section 6.7.

  • Payment of Principal and Interest The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

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