Preservation of Status Quo Sample Clauses

Preservation of Status Quo. Participation agreements often include a commitment that neither party will unilaterally make significant changes regarding finances, insurance or children. Examples of such agreements are provisions that neither party will unilaterally dispose of property, change beneficiaries on a life insurance policy, alter other insurance provisions, move the children or incur additional debts for which the other party may be responsible.
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Preservation of Status Quo. We agree that commencing immediately, neither party will borrow against, cancel, transfer, dispose of, or change the beneficiaries of any pension, retirement plan or insurance policy or permit any existing coverage to lapse, including life, health, automobile and/or disability held for the benefit of either party without the prior written consent of the other party. We agree that commencing immediately, neither party will change any provisions of any existing trust or will or execute a new trust or will without the prior written consent of the other party or an order of the court. We agree that commencing immediately, neither party will sell, transfer, encumber, conceal, assign, remove or in any way dispose of any property, real or personal, belonging to or acquired by either party, without the prior written consent of the other party, except in the usual course of business or investing, payment of reasonable attorneys fees and costs, or for the necessities of life. We agree that neither party will incur any further debts that would burden the credit of the other, including but not limited to further borrowing against any credit line secured by the marital residence, or unreasonably using credit cards or cash advances against credit or bank cards or will incur any liabilities for which the other may be responsible, other than in the ordinary course of business or for the necessities of life without the prior written consent of the other.
Sample 1
Preservation of Status Quo. We agree that we shall continue to maintain the financial status quo arrangements and continue to handle finances in the same manner as has been customary for this family for the past six months, including continuing the management of depositing of paychecks, use of assets, spending and payment of bills. We agree that commencing immediately, neither party will borrow against, cancel, transfer, dispose of, or change the beneficiaries of any pension, retirement plan, or insurance policy or permit any existing coverage to lapse, including life, health, automobile, homeowners, renters or disability held for the benefit of either party without the prior written consent of the other party. We agree that commencing immediately, neither party will change any provisions of any existing trust or will or execute a new trust or will without the prior written consent of the other party or an order of the court. We agree that commencing immediately, neither party will sell, transfer, encumber, conceal, assign, remove or in any way dispose of any property, real or personal, belonging to or acquired by either party, without the prior written consent of the other party, except in the usual course of business or investing, payment of Collaborative Team Member fees and costs, or for the reasonable necessities of life. We agree that neither party will incur any further debts that would burden the credit of the other, including but not limited to, further borrowing against any credit line secured by the marital residence, or unreasonably using credit cards or cash advances against credit or bank cards or will incur any liabilities for which the other may be responsible, other than in the ordinary course of business or for the necessities of life or the continuation of the Collaborative Process without the prior written consent of the other. We agree that if either of us has taken any of the above actions within the past six months, we will immediately disclose that fact to the other party and the team.
Sample 1
Preservation of Status Quo. Nothing in this Paragraph XI shall prevent any Party from initiating litigation for equitable relief or specific performance during the pendency of the dispute resolution process. Such litigation shall be strictly limited to such relief as is required to preserve the status quo pending the outcome of the dispute resolution process. Each Party hereby consents to the exclusive jurisdiction of the state and federal courts in New Castle County of the State of Delaware for such litigation proceedings.
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Preservation of Status Quo. If there are children, all parties agree that their interests shall be of paramount concern, and no changes will be made with respect to the residence of, access arrangements, or lifestyles of the children pending the outcome of the mediation, without the written consent of the other party. It is agreed that the parties will not, actively or passively, directly or indirectly, dissipate or dispose, or do any acts which will operate to the prejudice or detriment the interest, actual or potential, of the other party, of any asset pending the outcome of the mediation, without the written consent of all parties. It is agreed that, during the mediation process, neither party will transfer, encumber, conceal, or in any other way dispose of marital or disputed assets except in the regular course of business or for the necessities of life. Parties agree to be accountable to the other for any and all regular or necessary transactions. Legal Proceedings: It is agreed that, during the course of mediation, neither party will initiate, either directly or indirectly, any legal proceedings relating to the issues that are being mediated, unless the same is necessary to preserve his or her rights. It is further agreed that neither party will use mediation as a delay tactic against existing legal proceedings, and it is understood that some legal steps associated with currently scheduled proceedings may have to be taken during the course of mediation so that adjournments are not forced, to the detriment of one or more parties. Voluntary Process: While all parties intend to continue with mediation until a settlement is achieved, it is understood that mediation is a voluntary process and that any of the parties may withdraw from mediation at any time. It is agreed that any party wishing to withdraw from mediation will endeavor to discuss this decision in the presence of all parties.
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Preservation of Status Quo. By signing this agreement the parties are agreeing to be bound by the terms of ORS 107.093 during the pendency of their divorce. This means, amongst other things, that neither party will make any changes to any beneficiary designations or allow any policy of insurance to be changed or lapse without the written consent of the other party. A copy of ORS 107.093 is included on the mediator’s website. Violation of this paragraph shall be grounds for terminating the mediation. Client Client Date Date Payment Information Primary Card (Credit Card Only) Name on card: Billing address: State, City, Zip: Cared Number Expiration: Card Type: AMEX Visa Discover MasterCard Secondary Credit Card (Credit or Debit) Name on card: Billing address: State, City, Zip: Card Number Expiration: Card Type: AMEX Visa Discover MasterCard Card(s) will be charged for (circle all that apply): Consult Ongoing Other Signature:
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Preservation of Status Quo. During the Tolling Period, AYS will not file or otherwise initiate a lawsuit against Nestle or any of its subsidiaries, parents, or affiliates based on the Notice, unless any of the Parties terminate the status quo during the Tolling Period. Any Party may terminate the status quo at any time during the Tolling Period by providing written notice to the other Party or their respective legal counsel via overnight mail or e-mail at least thirty (30) days in advance of the proposed date of termination. Nothing in this Agreement shall be deemed to revive or reinstate any claims that were already time-barred prior to the commencement of the Tolling Period, however, pursuant to Paragraph 3, the period of time tolled hereunder shall be expressly “tolled” and not counted towards any limitations period related to the Prop 65 claims identified in the Notice that may be filed by AYS after the termination of the Tolling Period.
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Preservation of Status Quo 
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Related to Preservation of Status Quo

  • Confirmation of Status The parties confirm that the Asset Representations Reviewer is not responsible for (a) reviewing the Receivables for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement, or (b) determining whether noncompliance with the representations or warranties constitutes a breach of the Transaction Documents.

  • Preservation of Existence The Collateral Custodian will preserve and maintain its existence, rights, franchises and privileges in the jurisdiction of its formation and qualify and remain qualified in good standing in each jurisdiction where failure to preserve and maintain such existence, rights, franchises, privileges and qualification could reasonably be expected to have a Material Adverse Effect.

  • Maintenance of Status The Borrower will maintain its separate corporate existence and remain in good standing under the laws of the Xxxxxxxx Islands.

  • Preservation of Existence, Etc (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect.

  • Preservation of Company Existence The Servicer will preserve and maintain its corporate existence, rights, franchises and privileges in the jurisdiction of its incorporation, and qualify and remain qualified in good standing as a corporation in each jurisdiction where the failure to preserve and maintain such existence, rights, franchises, privileges and qualification could reasonably be expected to have a Material Adverse Effect.

  • Designation of Start-up Day The Closing Date is hereby designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier REMIC within the meaning of Section 860G(a)(9) of the Code.

  • Preservation of Existence and Similar Matters Except as otherwise permitted under Section 9.4., the Borrower shall, and shall cause each other Loan Party and each other Subsidiary to, preserve and maintain its respective existence, rights, franchises, licenses and privileges in the jurisdiction of its incorporation or formation and qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification and authorization and where the failure to be so authorized and qualified could reasonably be expected to have a Material Adverse Effect.

  • Preservation of Existence; Compliance with Law Seller shall:

  • Preservation of Organization The Sellers shall use their best efforts to preserve the business organization of the Company (including Subsidiaries) intact and to persuade all employees of the Company or Subsidiaries to remain in its employment after the Closing; provided that nothing herein contained shall be deemed to constitute an obligation of the Sellers, Purchaser or the Company to continue the employment of any such employee. The Sellers shall also use their best efforts to retain, preserve and maintain the business relations of the Company or the Subsidiaries with its suppliers, customers and others having business relationships with it.

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