Stay Provisions Clause Samples

Stay provisions are contractual clauses that temporarily halt or suspend certain rights or obligations under an agreement, typically in response to specific events such as bankruptcy or insolvency proceedings. In practice, these provisions may prevent a party from enforcing remedies, such as terminating the contract or seizing collateral, while a stay is in effect. The core function of stay provisions is to provide a period of stability and prevent precipitous actions during sensitive situations, thereby protecting the interests of all parties and allowing for orderly resolution of issues.
Stay Provisions. Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between or among the parties to this Agreement, each of the parties to this Agreement acknowledges and accepts that if a transaction relating to or under this Agreement qualifies as a Covered Agreement and relates to a Regulated Entity, and only to the extent that any relevant party is not an Excluded Counterparty: (a) the provisions regarding: (i) the suspension of any payment or delivery obligation in accordance with articles 33a and 69 BRRD as implemented by the applicable national law; (ii) the restriction of enforcement of any security interest in accordance with article 70 BRRD as implemented by the applicable national law; and/or (iii) the suspension of any termination rights and other contractual rights under the transaction in accordance with article 71 BRRD as implemented by the applicable national law, may be applied to the transaction; (b) the provisions regarding the exclusion of certain contractual terms in early intervention and resolution in accordance with article 68 BRRD as implemented by the applicable national law will apply, and (c) each of the parties accepts and agrees to be bound by the effect of a temporary suspension of payment or delivery obligations, termination rights and other contractual rights or a temporary restriction of enforcement of any security interest, in each case resulting from the exercise of measures pursuant to articles 33a, 69, 70 and 71 BRRD as implemented by the applicable national law with respect to the transaction, and accepts and agrees that they are bound by the provisions regarding the exclusion of certain contractual terms in early intervention and resolution in accordance with article 68 BRRD as implemented by the applicable national law. (d) The following defined terms shall apply to this Section 9.23:
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Related to Stay Provisions

  • Pay Provisions An employee who serves on a health and safety committee shall receive their regular rate of pay for attending meetings of the Committee held during working hours or for investigating safety matters at any time.

  • Injury Pay Provisions An employee who is injured on the job during working hours and is required to leave for treatment or is sent home for such injury, shall receive payment for the remainder of his/her shift, without deduction from sick leave.

  • SUNDRY PROVISIONS Section 4.1 Subject and subordinate always to the prior rights of the First Mortgagee under the First Mortgage and to the prior rights of the Second Mortgagee under the Second Mortgage, all of the covenants, promises, stipulations and agreements of the Shipowner in this Deed of Covenants contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assigns. In the event of any assignment of the Mortgage or this Deed of Covenants by the Mortgagee in accordance with the applicable provisions of the Third Lien Indenture, any other Third Lien Note Documents and the Third Lien Intercreditor Agreement, as applicable, the term “Mortgagee” as used in this Deed of Covenants shall be deemed to mean any such successor or permitted assignee. Section 4.2 Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. Section 4.3 (a) In the event that any provision of this Deed of Covenants shall be deemed invalid or unenforceable by reason of any present or future Legal Requirements or any decision of any court of competent jurisdiction, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Deed of Covenants in any jurisdiction or nation shall not render such provision invalid or unenforceable under the Legal Requirements of any other jurisdiction or nation.

  • Statutory Provisions Any statutory or regulatory reference in this Agreement shall include a reference to any successor to such statute or regulation and/or revision thereof.

  • Penalty Provisions Failure to comply with the regulatory requirements is a violation of state law that may result in penalties up to ten thousand dollars ($10,000.00 USD) for strict liability violations, for each day in which the violation occurs. (Cal. Code Regs., tit. 13, § 2299.2; Cal. Code Regs., tit. 17, § 93118.2; Health & Saf. Code §§ 39674, 39675, 42400 et seq., 42402 et seq., and 42410.)