Whitewash Procedures Sample Clauses

The Whitewash Procedures clause outlines the steps a company must follow to obtain shareholder approval for certain transactions that might otherwise be considered unlawful financial assistance, such as a company helping finance the purchase of its own shares. Typically, this involves the directors making a statutory declaration of solvency and the shareholders passing a special resolution, ensuring that the company remains financially stable after the transaction. The core function of this clause is to provide a legal pathway for companies to engage in transactions that would otherwise be prohibited, thereby facilitating legitimate business activities while protecting creditors and shareholders.
Whitewash Procedures. The Administrative Agent shall be satisfied that each element of the whitewash procedures with respect to TG has been completed;
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Whitewash Procedures. Within thirty (30) days following the Closing Date, the Company shall provide to the Lender evidence to the satisfaction of the Lender that the procedure contemplated by sections 47A-48 of the Companies Ordinance (Cap. 32 of the Laws of Hong Kong) has been completed in relation to any relevant Loan Document.
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Whitewash Procedures. 6.1 Evidence that the requirements of Chapter VI of the Companies A▇▇ ▇▇▇▇ have been complied with in relation to Talisman Expro Limited. 6.2 A letter from Ernst & Young, auditors to Talisman Expro Limited, addressed to the Mandated Lead Arrangers, regarding the net assets of Talisman Expro Limited.
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Whitewash Procedures. The Administrative Agent shall have confirmed that whitewash procedures with respect to TG are not required.
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Whitewash Procedures. Ensure that (i) Amity undertakes and completes the Whitewash Procedures, and the Whitewash Completion Date occurs, in each case no later than thirty (30) days after the Closing Date; (ii) on the Whitewash Completion Date, the Collateral Agent receives a certified copy of the board and shareholder resolutions that were passed (which shall be substantially in the form approved by the Collateral Agent on or before the date of this Agreement) and the notices that were given in connection with the Whitewash Procedures and (iii) the Collateral Agent receives evidence to its reasonably satisfaction that the required shareholder resolutions have been lodged with the Australian Securities and Investments Commission;
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Whitewash Procedures. The form of all board resolutions, shareholder resolutions and other documents required in connection with the Whitewash Procedures shall have been agreed to and finalized between the Collateral Agent, the Lenders and Amity, and the Collateral Agent and the Lenders shall be reasonably satisfied that the Obligors will cause Amity to perform the actions set forth in Section 7.17.
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Whitewash Procedures. The Lenders party hereto agree to waive the requirement previously contained in Section 7.17(b) of the Credit Agreement that Amity undertake and complete the Whitewash Procedures, and the Whitewash Completion Date occur, in each case no later than thirty (30) days after the Closing Date, and any Default or Event of Default that may have arisen directly from such failure to do so.
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Whitewash Procedures. Section 7.17(b) of the Credit Agreement shall be amended by deleting the words “in each case no later than thirty (30) days after the Closing Date” in clause (i) thereof, and replacing them with the words “no later than July 31, 2011”.
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Related to Whitewash Procedures

  • Safety Procedures The Contractor shall: (a) comply with all applicable safety regulations according to Attachment H; (b) take care for the safety of all persons entitled to be on the Site; (c) use reasonable efforts to keep the Site and Works clear of unnecessary obstruction so as to avoid danger to these persons; (d) provide fencing, lighting, guarding and watching of the Works until completion and taking over under clause 10 [Employer's Taking Over]; and (e) provide any Temporary Works (including roadways, footways, guards and fences) which may be necessary, because of the execution of the Works, for the use and protection of the public and of owners and occupiers of adjacent land.

  • New Procedures New procedures as to who shall provide certain of these services in Section 1 may be established in writing from time to time by agreement between the Fund and the Transfer Agent. The Transfer Agent may at times perform only a portion of these services and the Fund or its agent may perform these services on the Fund's behalf;

  • Quality Control Procedures The Seller shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program shall include evaluating and monitoring the overall quality of the Seller's loan production and the servicing activities of the Seller. The program is to ensure that the Mortgage Loans are originated and serviced in accordance with Accepted Servicing Standards and the Underwriting Guidelines; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.

  • Operational Procedures In order to minimize operational problems, it will be necessary for a flow of information to be supplied in a secure manner by Subadviser to the Trust’s service providers, including: The Bank of New York Mellon (the “Custodian”), Virtus Fund Services, LLC (the “Fund Administrator”), BNY Mellon Investment Servicing (US) Inc., (the “Accounting Agent”), any Prime Broker to the Series, and all other Counterparties/Brokers as required. The Subadviser must furnish the Trust’s service providers with required daily information as to executed trades in a format and time-frame agreed to by the Subadviser, Custodian, Fund Administrator, Accounting Agent and Prime Broker/Counterparties and designated persons of the Trust. Trade information sent to the Custodian, Fund Administrator, Accounting Agent and Prime Broker/Counterparties must include all necessary data within the required timeframes to allow such parties to perform their obligations to the Designated Series. The Accounting Agent specifically requires a daily trade blotter with a summary of all trades, in addition to trade feeds, including, if no trades are executed, a report to that effect. Daily information as to executed trades for same-day settlement and future trades must be sent to the Accounting Agent no later than 5:00 p.m. (Eastern Time) on the day of the trade each day the Trust is open for business. All other executed trades must be delivered to the Accounting Agent on trade date +1 by 11:00 a.m. (Eastern Time) to ensure that they are part of the Designated Series’ NAV calculation. (Subadviser will be responsible for reimbursement to the Trust for any loss caused by the Subadviser’s failure to comply with the requirements of this Schedule A.) On fiscal quarter ends and calendar quarter ends, all trades must be delivered to the Accounting Agent by 4:30 p.m. (Eastern Time) for inclusion in the financial statements of the Designated Series. The data to be sent to the Accounting Agent and/or Fund Administrator will be as agreed by the Subadviser, Fund Administrator, Accounting Agent and designated persons of the Trust and shall include (without limitation) the following:

  • Medical Procedures 21.01 The Board shall distribute a copy of its Operating Procedures for administration of prescribed medication to pupils in schools and Procedures for health support services to each Teacher. 21.02 In accordance with Operating Procedure Special Education Services 8, a Teacher may refuse without prejudice a request to administer medications except in life-threatening situations.