Release of Covenants. (a) If on any date following the Issue Date:
Release of Covenants. Hirel hereby agrees that the operations of its Mac-in-Stock division consist solely of the sale of personal computers and accessories manufactured by Apple Computer Company ("Apple"), and that it is not engaged in the manufacture, sale or distribution of personal computers in Latin America, other than those manufactured by Apple. Accordingly, Hirel hereby agrees that it does not have, and shall not have, any cause or causes of action against Xxxxxx, UIS or Xxxxxxxxxx by virtue of any covenants against competition that may have previously been executed by Xxxxxxxxxx with Hirel, or pursuant to the Consulting Agreement. Hirel further acknowledges and agrees that Xxxxxxxxxx does not have any "confidential information," as such term is defined under the Employment Agreement, that does or could relate to the UIS business, and accordingly Hirel agrees that it has no cause or causes of action that may be brought against Xxxxxx or Xxxxxxxxxx as a result of the services to be provided by 2M to Xxxxxx under the 2M Consulting Agreement.
Release of Covenants. If on any date following the Issue Date: (a) the Notes have been assigned an Investment Grade Rating by any two Rating Agencies; and (b) no Default or Event of Default shall have occurred and be continuing, then, beginning on that day and subject to the provisions of the following two paragraphs, the covenants specifically set forth in the following Sections will automatically, without any notice of any kind, be suspended (and the Company and the Restricted Subsidiaries will have no obligation or liability whatsoever with respect to such covenants): (1) Section 801(a)(iii) – Consolidation, Merger, Conveyance, Sale or Lease; 104 Section 1024. Anti-Money Laundering, Terrorism and Economic Sanctions (a) The Trustee, any paying agent, transfer agent or registrar (each, an “Agent”) may take and instruct any delegate to take any action which it in its sole discretion considers appropriate so as to comply with any applicable law, regulation, request of a public or regulatory authority or any internal group policy (including any Know Your Client and/or other compliance policy) which relates to the prevention of fraud, money laundering, terrorism or other criminal activities or the provision of financial and other services to sanctioned persons or entities. Such action may include but is not limited to the interception and investigation of transactions on the Company's or the Notes Guarantor’s accounts (particularly those involving the international transfer of funds) including the source of the intended recipient of funds paid into or out of the Company's or the Notes Guarantor’s accounts. Neither the Agents nor any delegate will be liable for any loss (whether direct or consequential and including, without limitation, loss of profit or interest) caused in whole or in part by any actions which are taken by the Agents or any delegate pursuant to this Section 1024. (b) Each of the Company and the Notes Guarantor covenants and represents that neither it nor any of its affiliates, subsidiaries, directors or officers are the target or subject of any sanctions enforced by the US Government, (including, without limitation, the Office of Foreign Assets Control of the US Department of the Treasury (OFAC) or the US Department of State), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively “Sanctions”); (c) Each of the Company and the Notes Guarantor covenants and represents that neither it nor a...
Release of Covenants. If on any date following the Issue Date: (a) the Notes have been assigned an Investment Grade Rating by any two Rating Agencies; and (b) no Default or Event of Default shall have occurred and be continuing, then, beginning on that day and subject to the provisions of the following two paragraphs, the covenants specifically set forth in the following Sections will automatically, without any notice of any kind, be suspended (and the Company and the Restricted Subsidiaries will have no obligation or liability whatsoever with respect to such covenants): (1) Section 801(a)(iii) – Consolidation, Merger, Conveyance, Sale or Lease; 104
Release of Covenants. Notwithstanding any other provision hereof, the Company's obligations and covenants under this Article IV shall be of no further force and effect upon the occurrence of any of the following: (A) the Debentures plus interest is either repaid or converted; (B) the Company has obtained financing of at least $5,000,000 from any third party on terms more favorable than the terms of this Agreement to acquire acreage and/or drill xxxxx directly or indirectly; or (C) the Company has met all of its obligations to make payments to acquire acreage, to drill xxxxx and pay cash calls for the drilling of xxxxx through September 1, 2004. Upon the satisfaction of one or more of the foregoing events, as certified in writing by the Company's Chief Executive Officer, the Agent agrees to execute such UCC-3 and other termination or release of lien documents as the Company shall request, within five Business Days of its receipt of the Company's request therefor.
Release of Covenants. Company and The JPM Company agree to automatically release Employee from the covenants set forth in paragraphs 6, 8, and 9 upon any material breach by JPM or Company under this agreement, which breach shall not have been cured by the Company or JPM within 30 days of the Company or JPM's receipt from the Employee of written notice specifying in reasonable detail the nature of Company's or JPM's breach; or Company or The JPM Company files for voluntary bankruptcy or reorganization; or upon involuntary bankruptcy petition against Company or JPM, unless dismissed within sixty (60) days of filing. 12.
Release of Covenants. Employee shall be released from the covenants contained in Sections 2, 5, and 6 upon the occurrence of any of the following events: (i) the Termination for Cause of Employee’s employment by the Company as defined in Section 1; (ii) a Change in Control as defined in Section 1; or (iii) any material breach by Company of its obligations to Employee arising under this Agreement or the Employment Agreement, including (a) any amendments or addenda related to either this Agreement or the Employment Agreement or (b) any future non-competition agreement or employment agreement, if said breach remains uncured for more than thirty (30) days after Employee gives Company written notice of breach specifying the nature of the breach.
Release of Covenants. 35 6.16. REPRESENTATIONS................................................... 35 6.17. CERTIFICATE AS TO AGREEMENT FOR LEASE............................. 35 7. INTERPRETATION .................................................................. 36 SCHEDULE 1 Part I The demised premises....................................... 37 Part II Matters to which the demised premises is subject...................................................... 37 SCHEDULE 2 Easements and Rights Granted...................................... 38 SCHEDULE 3 Exceptions and Reservations....................................... 39 SCHEDULE 4 Provisions for Rent Review........................................ 40 THIS LEASE made the day of 1996 BETWEEN:-
Release of Covenants. 6.15.1. Upon a lawful assignment of the whole of the demised premises by the Tenant in accordance with Clause 3.30 the Tenant shall thereafter be released from any future obligation to observe or perform the covenants on the Tenant's part contained in this Lease
Release of Covenants. Upon the repayment in full of the principal of the Bonds and payment in full of all interest thereon the Company, CTI and the Issuer will be released without any further act or formality from complying with the provisions of Conditions 3 and 4 and the provisions of Clauses 6.1 (The Bonds generally) and 6.2 (The Original Bonds).
