Payment of Authority's Expenses Sample Clauses

Payment of Authority's Expenses. The Company will, under the provisions of this Agreement, pay the Authority's standard administration fees and the reasonable expenses incurred by the Authority in connection with the issuance of the Bonds and the performance by the Authority of its functions and duties under this Agreement and the Indenture including but not limited to (i) a monthly service charge of Four Hundred Dollars ($400), payable on the first day of each month commencing June 1, 1992; (ii) in the event the Company prepays all of a portion of the purchase price due hereunder, a prepayment penalty in an amount equal to 1/2 of 1% of the amount prepaid; and (iii) any and all other expenses incurred in connection with the authorization, issuance, sale and delivery of any such Bonds or incurred by the Authority in connection with any litigation which may at any time be instituted involving this Agreement, the Bonds, the Indenture or any of the other documents contemplated thereby, or incurred in connection with the supervision or inspection of the Agreement, or otherwise in connection with this Agreement, the Indenture, the Bonds, or any of the other documents, instruments or agreements in connection therewith. Notwithstanding anything contained in this Section 5.4 to the contrary, the Company shall not be required to pay a prepayment penalty as provided in paragraph (ii) above, if (i) the Bonds are refunded by bonds issued by the Authority or a successor thereof, or (ii) the Bonds are called for redemption under Section 6.01(b) or 6.01(e), of the Indenture.
Sample 1
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Related to Payment of Authority's Expenses

  • Limit of Authority Unless otherwise expressly limited by the resolution of appointment or by subsequent action by the Fund, the appointment of DST as Transfer Agent will be construed to cover the full amount of authorized stock of the class or classes for which DST is appointed as the same will, from time to time, be constituted, and any subsequent increases in such authorized amount. In case of such increase the Fund will file with DST:

  • Scope of Authority NW hereby authorizes Distributor on a non-exclusive agency basis, and Distributor accepts such authority, subject to the registration requirements of the 1933 Act and the 1940 Act, the provisions of the 1934 Act and conditions herein, to be the distributor and principal underwriter for the sale of the Contracts to the public in each state and other jurisdiction in which the Contracts may lawfully be sold during the term of this Agreement. Distributor shall actively discharge its duties and responsibilities under this Agreement on a continuous basis while the Registration Statements for the Contracts remain effective. Distributor shall use its best efforts to promote and market the Contracts actively subject to compliance with applicable laws, rules and regulations, including NASD Rules. However, Distributor shall not be obligated to sell any Contracts. NW and Distributor agree that Distributor may distribute variable insurance products and other investment products for other companies, subject to the terms and conditions of its Membership Agreement with FINRA.

  • Evidence of Authority The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate or other instrument or paper believed by it to be genuine and to have been properly executed by or on behalf of the Fund. The Custodian may receive and accept a certified copy of a vote of the Board of Directors of the Fund as conclusive evidence (a) of the authority of any person to act in accordance with such vote or (b) of any determination or of any action by the Board of Directors pursuant to the Articles of Incorporation as described in such vote, and such vote may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary.

  • Termination of Authority Immediately upon the Executive terminating or being terminated from his employment with the Company for any reason, notwithstanding anything else appearing in this Agreement or otherwise, the Executive will stop serving the functions of his terminated or expired position(s) and shall be without any of the authority or responsibility for such position(s).

  • Grant of Authority In the event of the occurrence of an Insolvency Event, and in order to enable Senior Creditor to enforce its rights hereunder in any of the aforesaid actions or proceedings, Senior Creditor is hereby irrevocably authorized and empowered, in Senior Creditor’s discretion, as follows:

  • Limitation of Authority No person is authorized to make any representations concerning the Funds or the Shares except those contained in the Prospectus of each Fund and in such printed information as the Distributor may subsequently prepare. No person is authorized to distribute any sales material relating to any Fund without the prior written approval of the Distributor.

  • LIMITATIONS OF AUTHORITY SECTION 2. Neither Broker-Dealer nor any Registered Representative will have authority to accept risks of any kind; to make, alter or discharge Contracts; to waive forfeitures or exclusions; to alter or amend any papers received from either Insurance Company; to deliver any life insurance Contract or any document, agreement or endorsement changing the amount of insurance coverage if Broker-Dealer or the soliciting Registered Representative knows or has reason to believe that the insured is uninsurable; or to accept any payment unless the payment meets the minimum payment requirement for the Contract established by the Insurance Company.

  • Lack of Authority No Member, other than the Manager or a duly appointed Officer, in each case in its capacity as such, has the authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on them by Law and this Agreement.

  • Warranty of Authority Each of the individuals signing this Agreement on behalf of a party hereto warrants and represents that such individual is duly authorized and empowered to enter into this Agreement and bind such party hereto.

  • Proof of Authority Buyer shall provide such proof of authority and authorization to enter into this Agreement and the transactions contemplated hereby, and such proof of the power and authority of the individual(s) executing or delivering any documents or certificates on behalf of Buyer as may be reasonably required by Title Company.

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