Originator Obligations. New Century Mortgage Corporation agrees with each Underwriter, for the sole and exclusive benefit of such Underwriter and each person who controls an Underwriter within the meaning of either the Act or the Exchange Act and not for the benefit of any assignee thereof or any other person or persons dealing with such Underwriter, to indemnify and hold harmless each Underwriter and each person who controls an Underwriter within the meaning of either the Act or the Exchange Act against any failure by the Company to perform any of its obligations under this Agreement. New Century Mortgage Corporation agrees that there are no conditions precedent to the obligations of New Century Mortgage Corporation hereunder other than written demand to the Company to perform its obligations under this Agreement.
Originator Obligations. [_____________] agrees with each Underwriter, for the sole and exclusive benefit of such Underwriter and each person who controls an Underwriter within the meaning of either the Act or the Exchange Act and not for the benefit of any assignee thereof or any other person or persons dealing with such Underwriter, to indemnify and hold harmless each Underwriter and each person who controls an Underwriter within the meaning of either the Act or the Exchange Act against any failure by the Company to perform any of its obligations under this Agreement. [_____________________] agrees that there are no conditions precedent to the obligations of [_____________________] hereunder other than written demand to the Company to perform its obligations under this Agreement.
Originator Obligations. 2.1 The Originator has issued the asset backed multi-chain token known as TCu29.
2.2 The Token is backed by physical copper held at the mine owned by the Originator known as The Zellweger & Xxxxxx Xxxxx; or the warehouses and vaults utilised by the Originator to hold refined copper.
2.3 The Originator is obligated as follows:
2.3.1 To restrict the issue and supply of TCu29 tokens to less than the number of pounds (weight) of copper available to them to ensure that each token is backed by one pound of refined copper.
2.3.2 To operate and fund the operation of the mines, by their own means or by third- party funding, currently owned or those that may be owned in the future, to continue the production of refined copper; and to ensure the necessary insurance contracts are in place to protect the business and the Token Holders.
2.3.3 To build and maintain liquidity in the market to ensure the maintenance of value of the token in accordance with the advice received from the technical advisers.
2.3.4 To ensure that the facility is available that the Originator will accept one TCu29 Token in exchange for one pound of refined copper. This facility will be available from June 2026, but pre-orders will be accepted from 1st June 2024 subject to clause 3 below.
Originator Obligations
