Qualification phase Sample Clauses

Qualification phase. For clarity, during the Qualification Phase each Party shall bear its own Costs under this Agreement, except that (a) the Costs for tender-specific raw materials incurred during or in relation to the Qualification Phase, and (b) the Costs for the qualification of suppliers in accordance with the Scope of Work and the Pandemic Preparedness Plan up to a maximum amount of two million three hundred thousand Euros (EUR 2,300,000) (“Shared Qualification Costs”) shall be shared equally between GSK and CureVac in accordance with this Section 6.
Sample 1
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Qualification phase. 3.3.1 POWERCHIP shall, in accordance with the SCHEDULE and in accordance with PURCHASE ORDERS submitted by RSP to POWERCHIP pursuant to Article 4, manufacture such quantity of SAMPLES and/or RISK PRODUCTION PRODUCTS and provide RSP with such SAMPLES.
Sample 1
Qualification phase. In the second phase, banks qualify for entry into the banking union and for a European banking license. Both, individual banks and national supervisors can apply for admittance of a bank into the European banking union. In order to prevent delayed applications, a fixed deadline after which only banks with a European banking license remain on the market will be specified. Qualification for a European banking license involves a complete re-assessment of the value of banks’ assets – including claims vis-à-vis the government – through external experts. Also, banks obtaining a European banking license must meet the full regulatory requirements of Basel III as well as a Leverage Ratio of at least 5% of total on- and off- balance sheet activities (German Council of Economic Experts, 2012b). European authorities can admit a bank into the banking union after the qualification and screening phase has successfully been completed. Hence, banks would enter the banking union successively. Until banks have obtained a European banking license, liability and control would remain at the national level. In order to prevent European authorities to be swamped by applications of possibly thousands of banks, banks would be classified into different groups according to, for example, their size. In a first wave, only the largest banks such as those currently monitored by the European Banking Authority would have to qualify for entry into the banking union. The second wave of application with qualification and screening would consist of mid-sized banks and the final third wave of small banks. For each of the respective banks, group-specific deadlines for application for a European banking license would be specified. The criterion according to which banks are classified should refer to a point in time in the past in order to prevent manipulation. Given the continuing instabilities on financial markets, restructuring and, in particular, the winding down of large financial institutions is unlikely to occur. Authorities might fear that such an event could trigger contagion effects. This implies though that larger and potentially systemically important financial institutions in distress have incentives to xxxxxx for resurrection. In order to minimize the risk emanating from such behavior, European authorities already established in the first phase should, in parallel to national authorities, co- supervise even those financial institutions for which the group-specific deadlines have not ...
Sample 1

Related to Qualification phase

  • Existence, Qualification, Etc Except as otherwise expressly permitted under Section 8.7, do or cause to be done all things necessary to preserve and keep in full force and effect its existence and all material rights and franchises, and maintain its license or qualification to do business as a foreign corporation and good standing in each jurisdiction in which its ownership or lease of property or the nature of its business makes such license or qualification necessary;

  • Qualification; Compliance 19 (d) Liabilities . . . . . . . . . . . . . . . . . . . . 19 (e) Welfare Plans . . . . . . . . . . . . . . . . . . . 20 (f) Documents made Available . . . . . . . . . . . . . 20 (g) Payments Resulting from Merger . . . . . . . . . . 20 (h) Labor Agreements . . . . . . . . . . . . . . . . . 21 Section 4.11

  • Qualification and Good Standing Each Loan Party is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had and will not have a Material Adverse Effect.

  • Existence; Qualification The Borrowers will at all times preserve and keep in full force and effect their existence as a limited partnership, limited liability company, or corporation, as the case may be, and all rights and franchises material to its business, including their qualification to do business in each state where it is required by law to so qualify. Without limitation of the foregoing, each Borrower and, to the extent required by applicable law, General Partner and Member, shall at all times be qualified to do business in each of the states where the Properties are located.

  • Tax Qualification Each Employee Benefit Plan intended to be qualified under Section 401(a) of the Code has been determined to be so qualified by the Internal Revenue Service and nothing has occurred since the date of the last such determination which resulted or is likely to result in the revocation of such determination.

  • Qualification and Taxation as a REIT The Company will use its best efforts to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2011, and the Company will use its best efforts to continue to qualify for taxation as a REIT under the Code unless the Board of Directors of the Company determines that it is no longer in the best interests of the Company and its shareholders to be so qualified.

  • Qualification Rights Masterworks will have the right to request that the Company qualify on Form 1-A, or a comparable form, the resale of any Class A shares beneficially owned by Masterworks or any entity administered by Masterworks. There are no limitations or restrictions on the size or frequency of such qualification requests, other than pursuant to applicable law, provided, that all costs associated with any such qualification shall be the responsibility of Masterworks.

  • Due Qualification and Good Standing The Borrower is in good standing in the State of Delaware. The Borrower is duly qualified to do business and, to the extent applicable, is in good standing in each other jurisdiction in which the nature of its business, assets and properties, including the performance of its obligations under this Agreement, the other Facility Documents to which it is a party and its Constituent Documents, requires such qualification, except where the failure to be so qualified or in good standing could not reasonably be expected to have a Material Adverse Effect.

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