XXXX'X STATUS. The Subscriber and XXXX are independent contractors without authority to bind the other by contract or otherwise, and nothing in this Participation Agreement is intended to or will be taken to constitute an employer/employee relationship, agency arrangement, partnership or joint venture between the Subscriber and XXXX or any of XXXX'x personnel.
XXXX'X STATUS. Xxxx shall at all times (i) remain a publicly traded company listed on the New York Stock Exchange, and (ii) maintain its status as a self-directed and self-administered real estate investment trust under the Internal Revenue Code.
XXXX'X STATUS. The Company represents that it is not a “shell” issuer and has never been a “shell” issuer, or that if it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company has reported Form 10 type information indicating that it is no longer a “shell” issuer.
XXXX'X STATUS. The Subscriber and PEXA are independent contractors without authority to bind the other by contract or otherwise, and nothing in this Participation Agreement is intended to or will be taken to constitute an employer/employee relationship, agency arrangement, partnership or joint venture between the Subscriber and PEXA or any of XXXX'x personnel.
XXXX'X STATUS. (a) Borrower is a corporation, duly organized and existing and in good standing under the laws of Delaware, and is qualified or licensed to do business (and is in good standing as a foreign corporation, if applicable) in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower; and (b) no member of the Borrowing Group (as defined below) is a Sanctioned Target (as defined below) of economic or financial sanctions, sectoral sanctions, secondary sanctions, trade embargoes or restrictions and anti-terrorism laws imposed, administered or enforced from time to time by the United States of America, the United Nations Security Council, the European Union, the United Kingdom, any other governmental authority with jurisdiction over Borrower or any member of the Borrowing Group (collectively, “Sanctions”). As used herein, “Borrowing Group” means: (i) Borrower, (ii) any direct or indirect parent of Borrower, (iii) any affiliate or subsidiary of Borrower, (iv) any Third Party Obligor (as defined below), and (v) any officer, director or agent acting on behalf of any of the parties referred to in items (i) through and including (iv) with respect to the obligations hereunder, this Agreement or any of the other Loan Documents. “Sanctioned Target” means any target of Sanctions, including (i) persons on any list of targets identified or designated pursuant to any Sanctions, (ii) persons, countries, or territories that are the target of any territorial or country-based Sanctions program, (iii) persons that are a target of Sanctions due to their ownership or control by any Sanctioned Target(s), or (iv) persons otherwise a target of Sanctions, including vessels and aircraft, that are designated under any Sanctions program.
XXXX'X STATUS. In accordance with the Trade Union and Labour Relations (Consolidation) Xxx 0000, part IV, Chapter I, Paragraph 179, the parties agree that the following aspects of this agreement are intended to be legally enforceable parts of the contract between the Company and its Employees:
XXXX'X STATUS. 1. An employee whose position is funded greater than 0.5 FTE by sources other than general fund or tuition shall be considered to be on “grant status.” However, if the majority of the funding for a position comes from individual tuition payments from students, an employee will not be designated “grant status” even if not included in the general fund.
2. During the year prior to expiration of a grant that the College wants to extend, or during the year prior to entering into any new grant-funded program, the College may propose number of work days for any persons to be employed under the grant who qualify for unit membership. The salary rate will be the faculty member’s salary on the current salary schedule, but the College and Association will bargain under ORS 243.698 over actual number of days worked.
3. Grant status employees shall have all the rights and obligations of a bargaining unit member except those limitations expressly imposed by the terms of this Agreement.
4. An employee in “grant status” is not eligible to attain “regular status”. However, an employee who has attained regular status prior to accepting an assignment designated as “grant status” shall retain his/her regular status and shall continue to accrue seniority.
5. For employment status purposes, it is understood that a self support position funded by monies greater than 50% from outside sources/agencies (not from tuition reimbursement)
XXXX'X STATUS. All first-tier Subsidiaries of the Company will be formed and remain corporations for U.S. tax purposes or the Managers shall cause such Subsidiaries to be classified and treated as corporations for U.S. tax purposes, in each case from their inception and for all times thereafter.
XXXX'X STATUS. Borrower and each of its Subsidiaries, and each Subsidiary of a Subsidiary, is a corporation, partnership or limited liability company, duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation, organization or formation, and is qualified or licensed to do business (and is in good standing as a foreign entity, if applicable) in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed would have a Material Adverse Effect. All of the Subsidiaries of Borrower in existence as of the Closing Date are listed on Schedule 5.1 hereto.
XXXX'X STATUS. Borrower is a corporation, organized and existing and in good standing under the laws of the State of Delaware, and is qualified or licensed to do business (and is in good standing as a foreign corporation, if applicable) in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower. Borrower has represented, and Lender does hereby approve, the reincorporation of Borrower as a corporation under the laws of the State of Washington upon satisfaction of the following conditions: (a) notice of the intended reincorporation; (b) receipt, review and approval of an assignment and assumption agreement whereby the new legal entity assumes all of the obligations of Borrower under the Loan Documents, as determined in the discretion of Borrower; and (c) if requested by Lender, an opinion of counsel to Borrower, as reincorporated, as to the continuing enforceability of the Loan Document obligations.
