RIGHTS OR OBLIGATIONS Sample Clauses

RIGHTS OR OBLIGATIONS. Except as prohibited by law, the Pledgor waives any right which it may have to claim or recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages. The Pledgor (a) certifies that neither the Agent or any Bank nor any representative, agent or attorney of the Agent or any Bank has represented, expressly or otherwise, that the Agent or any Bank would not, in the event of litigation, seek to enforce the foregoing waivers and (b) acknowledges that, in entering into the Credit Agreement and the other Loan Documents to which the Agent is a party, the Agent and the Banks are relying upon, among other things, the waivers and certifications contained in this (S)18.

RIGHTS OR OBLIGATIONS. (a) References to a right, privilege or obligation of a Project Entity that is not a Party should be construed as conferring the right or privilege on the Participants or their Affiliates, or imposing upon the Parties the obligation to perform or cause the Project Entity to perform, that obligation. (b) References to a right, privilege, or obligation of a Producer Capacity Holder that is not a Party should be construed as conferring the right or privilege on the Producer Capacity Holder’s Producer or imposing upon the Producer Capacity Holder’s Producer the obligation to perform, or cause the Producer Capacity Holder to perform, that obligation. (c) References to a right, privilege, or obligation of a State Capacity Holder that is not a Party should be construed as conferring the right or privilege on the State, or imposing upon the State the obligation to perform, or cause the State Capacity Holder to perform that obligation.

RIGHTS OR OBLIGATIONS. If a triggering event occurs, is the buy-sell automatic or at someone’s option? If the latter, whose option is it? The answer could be different based on different triggering events. - Example 1: if a partner reaches an age of attainment, but everyone agrees that the partner should have the right to remain (and the partner wants to remain and continues to be productive), then they could unanimously agree to postpone the buy-sell, and that could be an annually renewable option. - Example 2: if a partner dies, does the partnership have an obligation to purchase the deceased partner’s interest from his estate/heirs? If the surviving spouse wants to continue to maintain the income stream, do they have an obligation to sell? Generally, the answer to both would be yes, but it’s always worth asking the question. - Example 3: if a partner leaves to go to a direct competitor, the operating agreement (or a separate employment agreement) might have non-compete language. In theory the two components could be structured to cancel each other out upon agreement by the departing partner and the partnership. In other words, the departing partner could ignore the non- compete by surrendering their partnership interests. There are numerous hypothetical scenarios that could arise in the context of events that might trigger a buy-sell arrangement, but these are among the more commonly recurring examples.

RIGHTS OR OBLIGATIONS. You may not transfer any of Your rights or obligations under this Agreement.

RIGHTS OR OBLIGATIONS. Either party may not assign its rights or obligations under this Agreement without the prior written consent of the other party. This Agreement may not be modified or amended (and no rights hereunder may be waived) except through a written instrument signed by the party to be bound. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and shall be governed by and construed in accordance with the laws of the State of NORTH CAROLINA, without giving effect to conflict of law rules. Customer acknowledges and agrees that this Agreement is not intended to be and shall not be construed to be a franchise or business opportunity.