SECTION 112 OF THE COMPANIES ACT Sample Clauses

SECTION 112 OF THE COMPANIES ACT. 22.1 It is recorded that the Seller and the Purchaser are aware of the provisions of Section 112 of the Companies Act 71 of 2008 (as amended) (“Section 112”), namely that if the Seller is a company and if the Property constitutes either all or the greater part of the assets or the undertaking of the Seller, then the directors of the Seller shall not have the power, save by a special resolution of the shareholders of the Seller, to dispose of the Property.
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SECTION 112 OF THE COMPANIES ACT. 32.1 It is recorded that the disposal of the PROPERTY by the SELLER in terms of this CONTRACT constitutes a disposes of the whole or greater part of the assets of the SELLER which disposal requires the sanction of a Special Resolution of the SELLER in terms of Section 112 of the Companies Act, 71 of 2008 (as amended).
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SECTION 112 OF THE COMPANIES ACT. 15.1 It is recorded that the SELLER and the PURCHASER are aware of the provisions of Section 112 of the Companies Act 71 of 2008 (as amended) (“Section 112”), namely that if the SELLER is a company and if the PROPERTY constitutes either all or the greater part of the assets or the HEAD OFFICE 000 Xxxxxxxxx Xxxx, Menlo Park, Pretoria, Gauteng P.O Box 11246, Menlo Park, Gauteng, 0161 Tel: 000 000 0000 Email: xxxx@xxxxx.xx.xx Website: xxx.xxxxx.xx.xx Root-X Africa Auctioneers CC Reg Nr 2007/180369/23 CONTRACT undertaking of the SELLER, then the directors of the SELLER shall not have the power, save by a special resolution of the shareholders of the SELLER, to dispose of the PROPERTY.
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Related to SECTION 112 OF THE COMPANIES ACT

  • FUTURE LEGISLATION AND THE COLLECTIVE AGREEMENT 5.01 If any law now in force or enacted during the term of this Agreement renders null and void any provision of this Agreement, the remaining provisions shall remain in effect for the term of the Agreement. The parties shall thereupon seek to negotiate substitute provisions which are in conformity with the applicable law.

  • Interlocal Cooperation Act In satisfaction of the requirements of the Cooperation Act in connection with this Agreement, the Parties agree as follows:

  • SECTION 109 OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974 The Contractor shall comply with the provisions of Section 109 of the Housing and Community Development Act of 1974. No person in the United States shall on the grounds of race, color, national origin, or sex be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity funded in whole or in part with funds made available under this title. Section 109 further provides that discrimination on the basis of age under the Age Discrimination Act of 1975 or with respect to an otherwise qualified handicapped individual as provided in Section 504 of the Rehabilitation Act of 1973, as amended, is prohibited.

  • Compliance with Federal Law, Regulations, and Executive Orders This is an acknowledgement that FEMA financial assistance will be used to fund the contract only. The contractor will comply will all applicable federal law, regulations, executive orders, FEMA policies, procedures, and directives.

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