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Subsequent Obligations Sample Clauses

Subsequent ObligationsUpon termination of this contract due to any cause, and at any time, the Parties have the obligation to comply satisfactorily with their legal obligations committed to among themselves, and with third parties, and those committed to herein.
Subsequent Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Bank to extend any Loans or make or incur subsequent Obligations is subject to the satisfaction, on the date of making or incurring each such Obligation, of the following conditions prior to any such extension of credit or making or incurring any such Obligations: (a) All of the representations, warranties and acknowledgments of the Company contained in this Agreement and the Related Documents shall be true and accurate as if made on such date, and each request by the Company for credit shall constitute an affirmation by the Company that such representations, warranties and acknowledgements are then true and accurate, other than those which, by their terms, specifically are made as of a certain date prior thereto and other than as expressly permitted by this Agreement or as otherwise consented to in writing by the Bank; (b) There shall not exist on such date any Default and no Default shall occur as the result of the making or incurring of such Obligation (except the Existing Defaults); (c) The aggregate principal amount of all Revolving Loans outstanding, together with the amount of any Revolving Loan requested shall not exceed the Revolving Loan Commitment; (d) The Bank shall have received executed loan requests for all Revolving Loans previously requested by the Company and the matters certified therein and herein shall have been true, correct and complete on the date thereof and shall continue to be true and correct on the date of the requested Revolving Loans or other Obligations; and (e) Each of the Related Documents shall remain in full force and effect and all security, mortgage and pledge agreements shall continue to secure the Obligations; and (f) The Bank has received weekly or monthly certifications in the form set forth at Schedule 4.2(f) hereof. (g) A financial advisor of recognized professional standing and ability is currently retained by the Company, or in the event of such advisor's (i) resignation, or (ii) discharge, then, within 20 days thereof, a new financial advisor with similar capabilities and recognized professional standing and ability shall be retained by the Company (the "Advisor").
Subsequent Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Lenders to make or incur subsequent Obligations is subject to the satisfaction, on the date of making or incurring each such Obligation, of the following conditions: (a) Receipt by the Agent of a Loan Request executed by the Company; (b) All of the representations, warranties and acknowledgments of the Company and each Subsidiary contained in this Agreement and the Related Documents shall be true and accurate as if made on such date, and each request by the Company for credit shall constitute an affirmation by the Company that such representations, warranties and acknowledgements are then true and accurate; (c) There shall not exist on such date any Default and no Default shall occur as the result of the making or incurring of such Obligation; (d) The aggregate principal amount of all Revolving Loans and Term Loans outstanding together with the amount of any Revolving Loan requested shall not exceed the Revolving Loan Commitment; and (e) Each of the Related Documents shall remain in full force and effect and continue to secure the Obligations.
Subsequent Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Lender to make or incur subsequent Obligations is subject to the satisfaction, on the date of making or incurring each such Obligation, of the following conditions: (a) All of representations and warranties of the Company contained in this Agreement and the Related Documents shall be true and accurate in all Material respects as if made on such date, except to the extent that, such representations and warranties that specifically relate to an earlier date, in which case they shall be true and accurate in all Material respects as of such earlier date, and except that the representations and warranties contained in Section 3.2 shall be deemed to refer to the most recent financial statements furnished pursuant to Section 5.3; (b) There shall not exist on such date any Default and no Default shall occur as the result of the making or incurring of such Obligation; (c) The aggregate principal amount of all Revolving Loans outstanding together with the amount of any Revolving Loan requested shall not exceed the Revolving Loan Commitment; and (d) Each of the Related Documents shall remain in full force and effect.
Subsequent Obligations. (1) Where a Termination Notice has been served in the circumstances set out in Article 16.2(3)(b) or Article 16.2
Subsequent ObligationsUpon termination of this Contract on any grounds and at any moment, the Parties are obligated to comply in a satisfactory manner with their mutual legal obligations as well as with the obligations towards third parties and contracted herein. This shall include assuming responsibility for losses and damages arising after the Contract has been unilaterally terminated, and there will be indemnifications and compensations of a legal nature for reasons attributable to THE CONTRACTOR. 30.1. THE CONTRACTOR shall pay special attention to protection of the environment and to compliance with the applicable regulations in these matters. It shall likewise adopt and carry out specific contingency plans to attend to emergencies and repair damages, in the most efficient and timely manner. 30.2. THE CONTRACTOR shall inform THE AXX semiannually on the environmental aspects of the Operations that are being conducted, on the application of preventive plans and contingency plans, and on the status of any steps taken before the competent environmental authorities in the matter of permits, authorizations, concessions or licenses, as the case may be. In those phases of the Contract involving activities whose performance is subject to the granting of environmental licenses, permits, concessions or authorizations, THE CONTRACTOR shall commence, before the competent authorities and within ninety (90) Calendar Days following the start of the relevant phase, all steps required for such purpose. Non-observance by THE CONTRACTOR of the period established in this subsection, or its lack of diligence in the relevant procedures, shall prevent it from invoking before THE AXX delays in obtaining the licenses, permits, concessions or authorizations as grounds to request an extension or suspension of the obligations related to the relevant phase. 30.3. When any activity or Exploration Operation requires environmental permits, authorizations, concessions or licenses, THE CONTRACTOR shall abstain from carrying them out unless and until it obtains said permits, authorizations, concessions or licenses. 30.4. Without the approval of the environmental impact studies and the issuance of the corresponding environmental licenses or other requirements, THE CONTRACTOR may not commence Exploitation. 30.5. The non-performance of any of the obligations referred to in subsections 30.1, 30.2, 30.3 and 30.4 is grounds for termination due to breach of the terms of Clause 29 (subsection 29.2, sub-item (g)).
Subsequent Obligations. The obligations of the Bank to make any Loan is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Company set forth in this Agreement and the Related Documents shall be true and correct on and as of the date of such Loan, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date. (b) At the time of and immediately after giving effect to the Loan, no Default or Event of Default shall have occurred and be continuing. (c) The Bank shall have received a Loan Request and such other documentation and assurances as shall be reasonably required by it in connection herewith. (d) Such Loan shall not be prohibited by any applicable law, rule or regulation. Each request for a Loan shall be deemed to constitute a representation and warranty by the Company on the date thereof as to the matters specified in clauses (a) and (b) of this Section 4.2.
Subsequent Obligations. If this Contract is terminated for any cause, and at any time, the Parties are obliged to perform their legal obligations to each other, and to third parties, as contracted in this Contract. This includes the assumption of responsibility for loss and damage resulting from the unilateral termination and for causes acceptable to THE CONTRACTOR, where there are mandatory indemnities or compensation to pay. CLAUSE 29-ENVIRONMENT 29.1 THE CONTRACTOR will pay special attention to the protection of the environment, and to compliance with regulations on the matter. At the same time, THE CONTRACTOR will adopt and implement specific contingency plans to attend to emergencies, and repair damage in the most efficient and timely way possible. 29.2 THE CONTRACTOR will make a half-Yearly report to ANH on xxvironmental aspects of operations in progress, the application of preventive plans and contingency plans, and with regard to the state of activities or applications to the environment convert environmental authorities with regard to permits, authorizations, concessions or licenses, as the case may be. 29.3 If an activity or Exploration Operations requires permits, authorizations, concessions or environmental licenses, THE CONTRACTOR will not pursue that activity or operation until the permit, authorizations, concession or license is obtained. RIO VERDE SECTOR EXPLORATION AND EXPLOITATION CONTRACT 29.4 THE CONTRACTOR may not commence Exploitation without approval of the environmental impact study and the issue of related environmental licenses. 29.5 Failure to comply with any of the obligations in terms of subsection 29.3 and 29.4, is a cause of termination of breach, in terms of Subsection 28.2 (g).
Subsequent Obligations. If this Contract is terminated for any cause, and at any time, the Parties are obliged to perform their legal obligations to each other, and to third parties, as contracted in this Contract. This includes the assumption of responsibility CLAUSE 29-ENVIRONMENT 29.1 THE CONTRACTOR will pay special attention to the protection of the environment, and to compliance with regulations on the matter. Without prejudice to compliance with legal or military requirements, for this purpose THE CONTRACTOR will prepare and execute plans of a preventive nature, to guarantee the protection, conservation and restoration of renewable natural resources affected by Exploration Operations, Evaluation Operations and Exploitation Operations under this Contract. At the same time, THE CONTRACTOR will adopt and implement specific contingency plans to attend to emergencies, and repair damage in the most efficient and timely way possible. 29.2 THE CONTRACTOR will make a half-Yearly report to XXX on environmental aspects of operations in progress, the application of preventive plans and contingency plans, and with regard to the state of activities or applications to the environment convert environmental authorities with regard to permits, authorizations, concessions or licenses, as the case may be. 29.3 If an activity or Exploration Operations requires permits, authorizations, concessions or environmental licenses, THE CONTRACTOR will not pursue that activity or operation until the permit, authorizations, concession or license is obtained. 29.4 THE CONTRACTOR may not commence Exploitation without approval of the environmental impact study and the issue of related environmental licenses. 29.5 Failure to comply with any of the obligations is a cause of termination of breach, in terms of SubSection 28.2 (g). CLAUSE 30-ABANDONMENT
Subsequent Obligations. (1) Where a Termination Notice has been served in the circumstances set out in Article 16.2(3)(b) or Article 16.2(3)(c), the non-breaching Party shall have the option, but not the obligation, to sell its Percentage Interest in the Joint Venture to the breaching Party in accordance with the following procedures: (a) within 30 days of the issuance of the Termination Notice, the Board of Directors shall, by a majority vote appoint an internationally recognized accounting firm or other appraiser (an "APPRAISER") to determine the Book Value of the Joint Venture. Such Appraiser shall complete its assessment of the Book Value of the Joint Venture and notify the Parties thereof in writing within 60 days of their appointment. (b) upon completion of the determination of the Book Value of the Joint Venture, the non-breaching Party shall have the option to sell its share of the Registered Capital of the Joint Venture to the breaching Party at a price equal to: Book Value x 80% the non-breaching Party's share of the Registered Capital at the time of valuation (c) The purchasing Party shall have the right to designate a third party enterprise to purchase all or part of the non-breaching Party's Percentage Interest for the price (or portion thereof) set forth in Article 16.3(1)(b) hereof. (d) The Parties agree to take all such steps as may be required to effect the sale of the selling Party's Interest in the Joint Venture, including obtaining all necessary government approvals for the transfer of the Interest to the purchasing Party (or its designee) and causing their respective Board appointees to approve such transfer, and executing all documents necessary or advisable to effect such transfer. If such government approvals are not obtained within ninety (90) days after the signing of the interest transfer agreement between the selling Party and the purchasing Party (or its designee), the exercise of the option shall be null and void and the Joint Venture shall be liquidated, if so proposed by the non-breaching Party, in accordance with the provisions of Article