Permitted Charge on Assets Sample Clauses

Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.
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Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Senior Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. The Concessionaire is required to obtain written permission / approval / no objection from the Concessioning Authority Prior to creation of such second or further charge. Further, the Concessionaire shall be required to submit documents creating such second or further charge before such permission is written permission / approval / no objection is granted by the Concessioning Authority. Furthermore any such second or further charge created by the Concessionaire shall be subject to the first charge in favour of the Concessioning Authority. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Senior Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.
Sample 1Sample 2
Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement. It is made here utmost clear that the Concessionaire would not have any right on approach from Jetty head to Navigational Channel just because the same is to be dredged by the Concessionaire. Capital and maintenance dredging in approach from Jetty head to Navigational Channel is an Obligation of the Concessionaire. The Concessionaire shall be given access to it just for performing its Obligation. The Concessionaire shall also not restrict or levy any charge for using this approach to Concessioning Authority or any other person duly authorised by it.
Sample 1
Permitted Charge on Assets. (a) The Licensee shall be entitled to mortgage, hypothecate or otherwise charge all its right title and interest in the assets referred to in Article 6.1(b) in favour of Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents, without the consent of the Licensor, subject to prior intimation to the Licensor.
Sample 1

Related to Permitted Charge on Assets

  • Permitted Charges 15.2.1 Neither Party shall create or permit to subsist any encumbrance over all or any of its rights and benefits under this Agreement.

  • Permitted Investments At any time, any one or more of the following obligations and securities:

  • Income from Debt-Claims 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.

  • OPERATION OF PROPERTY DURING AGREEMENT PERIOD The Seller will continue to operate the Property and any business conducted on the Property in the manner operated prior to the Agreement and will take no action that would adversely impact the Property, tenants, lender, or business, if any. Any changes, such as renting vacant space, that materially affects the Property or the Buyer's intended use will be permitted only with the Buyer's consent.

  • Continuing Obligations The rights and obligations of the Parties that, by their nature, would continue beyond the expiration or termination of this Agreement, e.g., "Liability and Risk of Loss" and "Intellectual Property Rights"-related clauses shall survive such expiration or termination of this Agreement.

  • Permitted License Transfers As Licensee’s business operations may be altered, expanded or diminished, licenses granted hereunder may be transferred or combined for use at an alternative or consolidated site not originally specified in the license, including transfers between Agencies (“permitted license transfers”). Licensee(s) do not have to obtain the approval of Contractor for permitted license transfers, but must give thirty (30) days prior written notice to Contractor of such move(s) and certify in writing that the Product is not in use at the prior site. There shall be no additional license or other transfer fees due Contractor, provided that: i) the maximum capacity of the consolidated machine is equal to the combined individual license capacity of all licenses running at the consolidated or transferred site (e.g., named users, seats, or MIPS); or ii) if the maximum capacity of the consolidated machine is greater than the individual license capacity being transferred, a logical or physical partition or other means of restricting access will be maintained within the computer system so as to restrict use and access to the Product to that unit of licensed capacity solely dedicated to beneficial use for Licensee. In the event that the maximum capacity of the consolidated machine is greater than the combined individual license capacity of all licenses running at the consolidated or transferred site, and a logical or physical partition or other means of restricting use is not available, the fees due Contractor shall not exceed the fees otherwise payable for a single license for the upgrade capacity.

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Accounts Excluded from Financial Accounts The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

  • Unobligated and Unearned Funds and Allowable Costs In accordance with Section 215.971, Florida Statutes, the Grantee shall refund to the State of Florida any balance of unobligated funds which has been advanced or paid to the Grantee. In addition, funds paid in excess of the amount to which the recipient is entitled under the terms and conditions of the agreement must be refunded to the state agency. Further, the recipient may expend funds only for allowable costs resulting from obligations incurred during the specified agreement period. Expenditures of state financial assistance must be in compliance with the laws, rules, and regulations applicable to expenditures of State funds, including, but not limited to, the Reference Guide for State Expenditures.

  • Permitted Payments Hedging Liabilities

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