Permitted dealings Sample Clauses
The 'Permitted dealings' clause defines the specific actions or transactions that a party is allowed to undertake with respect to certain rights, assets, or information under the agreement. Typically, this clause outlines what uses, transfers, sublicensing, or disclosures are allowed without breaching the contract, such as allowing a licensee to use intellectual property for internal business purposes or to share information with approved subcontractors. Its core practical function is to clearly delineate the boundaries of acceptable conduct, thereby reducing ambiguity and minimizing the risk of unauthorized use or disputes between the parties.
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Permitted dealings. Clause 5.2 (Collateral) does not apply to Permitted Security or any other act explicitly permitted under the Subscription Agreement until the occurrence of an Event of Default.
Permitted dealings. The Grantor may do any of the following in the ordinary course of the Grantor’s ordinary business unless it is prohibited from doing so by another provision in a Transaction Document:
(a) create or allow another interest in, or dispose or part with possession of, any Collateral which is a Revolving Asset; or
(b) withdraw or transfer money from an account with a bank or other financial institution.
Permitted dealings. Subject to subclause 13.3 and 13.4, the Manager, any Approved Person and any Connected Person of the Manager may contract with or enter into any financial or other transaction with any Investor or with any Portfolio Entity without being under any obligation to account to the Company for any commission or other payment received in connection therewith except where such contract or transaction would give rise to a conflict with the Manager's duties under this Agreement.
Permitted dealings. Notwithstanding clause 11.2 a Shareholder may, subject to the written consent of the other Shareholders, which consent shall not be unreasonably withheld, and subject to compliance with clause 13, transfer all its Shares to:
(i) a Related Body Corporate of the Shareholder; or
(ii) a company or trust controlled by a person or one or more persons referred to in (i) above.
Permitted dealings. (i) Despite any other provision of the Transaction Documents an Obligor may, without the consent of the Lender:
(A) commute, or agree to the commutation of, any Insurance Policy as part of a court approved scheme of arrangement for the relevant insurer;
(B) commute, or agree to the commutation of, any Insurance Policy where the amount of the liability of the relevant insurer under the relevant Insurance Policy that is commuted does not exceed $10 million, provided that the total amount of all liabilities so commuted under subparagraph (A) or this subparagraph (B), together with the total amount of all claims settled or compromised under subparagraph (C), in each case in any Financial Year, does not exceed the lesser of (1) $50 million and (2) 50% of the Undrawn Commitment at the time of the relevant commutation, or agreement to do so; and
(C) settle or compromise any claim under an Insurance Policy in the ordinary course of its business where the amount of the relevant claim that is settled or compromised does not exceed $10 million provided that the total amount of all claims so settled or compromised together with all liabilities commuted under subparagraph (A) or subparagraph (B), in each case in any Financial Year, does not exceed lesser of (1) $50 million and (2) 50% of the Undrawn Commitment at the time of the relevant settlement or compromise or agreement to do so.
(ii) The Borrower shall provide written notice to the Lender of any commutation, settlement or compromise made, or agreed to be made, in respect of any Insurance Policy as soon as practicable after it is made, or it is agreed to be made.
Permitted dealings. (a) Subject to the Facility Documents, clause 3.3 and clause 3.5, each Grantor may:
(i) create or allow another interest in, or dispose or part with possession of any Collateral which is a Revolving Asset; or
(ii) withdraw or transfer money from an account with a bank or other financial institution, in the ordinary course of its ordinary business.
(b) In the event that a Grantor sells or transfers absolutely any Collateral where permitted by this Deed or any other Facility Documents, the security interest created by this Deed over such Collateral will be released automatically at the time of completion of such sale or transfer, and the Secured Party shall enter into any specific release documents reasonably requested by the relevant Grantor.
Permitted dealings. Notwithstanding any other provision of this Schedule 15, the Seller agrees that the Buyer may grant a mortgage, charge or otherwise encumber its right, title and interest in, and arising under, this Schedule 15 to a bona fide financier.
Permitted dealings. Under no circumstances will CUSTODIAN recommend any person, contract or transaction in which CUSTODIAN, the CUSTODIAN’s Representative, or any of their affiliates or associates or to the best of their knowledge and belief any client of any of the above has any interest, without full written disclosure of the nature and extent of such interest and certification that such interest has had no effect upon CUSTODIAN's recommendations.
Permitted dealings. The Trustee may do any of the following in the ordinary course of the Trustee’s ordinary business and in accordance with the Transaction Documents:
(a) create or allow another interest in, or dispose or part with possession of, any Collateral which is a Revolving Asset; or
(b) withdraw or transfer money from an account with a bank or other financial institution.
Permitted dealings. Clause 5.2 (Secured Assets) does not apply to any act explicitly permitted under the Credit Agreement and the other Loan Documents.