Xxxxxxxx Clause. The Lender shall not be obliged to xxxxxxxx in your favour or in favour of any other person.
Xxxxxxxx Clause. In the event of the passage or enactment of any law, order, rule or regulation subsequent to the date hereof in any manner changing or modifying the laws now in force governing the taxation of mortgages or security agreements or debts secured by mortgages or security agreements or the manner of collecting taxes so as to affect adversely the Director, the Director may, at the Director's option, declare an Event of Default hereunder unless promptly upon such passage or enactment the Company assumes, in a manner satisfactory to the Director, the obligation to pay any taxes or other financial burdens imposed upon the Director.
Xxxxxxxx Clause. In the event of the enactment of or change in (including a change in interpretation of) any Applicable Law (i) deducting or allowing any Loan Party or any of its Subsidiaries to deduct from the value of any Mortgaged Property for the purpose of taxation any Lien thereon, (ii) subjecting any Lender to any tax in respect of, or changing the basis of taxation in respect of, the Mortgages, or the manner of collection of such taxes (other than Taxes on net income, franchise taxes and doing business taxes), or (iii) for the taxation of mortgages or debts secured by mortgages or in the means of collection of any such tax, in each such case, so as to affect any Lender or the Notes or the Mortgages or any other Loan Document, and the result is to increase the taxes imposed upon or the cost to any Lender of maintaining the Loans, or to reduce the amount of any payments receivable under the Notes, the Mortgages or any other Loan Document, or to invalidate the Lien created by any Security Document, then, in any such event, Borrower shall, within twenty Business Days of receipt of a request therefor, accompanied by documentation verifying the nature, amount and due date, pay to such Lender additional amounts to compensate for such increased costs or reduced amounts; provided, however, that if any Lender makes such a request, or if the Lien created by any Security Document may be invalidated, then Borrower shall have the right, and, in the case of such invalidation, shall have the obligation, to prepay the Loans in accordance with the provisions of this Agreement and the Notes; provided further, however, that if any such payment or reimbursement shall be unlawful or would constitute usury or render the Loans wholly or partially usurious under Applicable Law, then the Agent may, in its sole discretion, declare the Loans so affected immediately due and payable (without premium or penalty) and/or require Borrower to pay or reimburse the Lenders for payment of the lawful and non-usurious portion thereof not less than 180 days after notice of such declaration.
Xxxxxxxx Clause. The word “mortgagee” includes trustee and lienholder.
a. If a mortgagee is named in this policy, any loss payable under Coverage A – Xxxxxxxx will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
b. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
(1) Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware. This notice includes notifying us of foreclosure or if a foreclosure has been initiated, and providing copies of all foreclosure pleadings when they are filed;
(2) Pays any premium due under this policy on demand if you have neglected to pay the premium; and
(3) Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Appraisal, Suit Against Us and Loss Payment apply to the mortgagee.
c. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least 10 days before the date cancellation or nonrenewal takes effect.
d. If we pay the mortgagee for any loss and deny payment to you:
(1) We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
(2) At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
e. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee’s claim.
Xxxxxxxx Clause. In the event of the enactment of or change in (including a change in interpretation of) any applicable law (1) deducting or allowing Mortgagor to deduct from the value of the Premises for the purpose of taxation any lien or security interest thereon, or
Xxxxxxxx Clause. In the event of the passage or enactment of any law, order, rule or regulation subsequent to the date hereof in any manner changing or modifying the laws now in force governing the taxation of mortgages or security agreements or debts secured by mortgages or security agreements or the manner of collecting taxes so as to affect adversely the (name of local jurisdiction), the (name of local jurisdiction) may, at the (name of local jurisdiction)'s option, declare an Event of Default hereunder unless promptly upon such passage or enactment the Company assumes, in a manner satisfactory to the (name of local jurisdiction), the obligation to pay any taxes or other financial burdens imposed upon the (name of local jurisdiction).
Xxxxxxxx Clause. Subject always to the provisions of the policy:
Xxxxxxxx Clause. Section 1. The Council Representative shall furnish or appoint a xxxxxxx for a job or a shop when the Council Representative deems it necessary. The Council Representative will discuss with the contractor who he intends to furnish or appoint for a job or shop. It is compulsory that the xxxxxxx shall work and that he/she shall be qualified to perform the work to which he/she is assigned and that he or she shall not be discriminated against or discharged for the performance of his or her duties as xxxxxxx. The xxxxxxx shall be allowed to see that proper care and attention has been given to any
Section 2. The Council Representative shall have the immediate right to furnish or appoint a xxxxxxx whenever work covered by this Agreement is being performed. In all circumstances, no matter whether the first xxxxxxxxx xxxxxxx is employed by a general contractor or by a subcontractor, the second xxxxxxxxx employed on the job site shall be the xxxxxxx. The xxxxxxx may be assigned to a xxxxxxxxx subcontractor on the project with the prior approval of the Council Representative, which shall not be unreasonably withheld, so long as the general contractor does not employ carpenters on its payroll except for a xxxxxxxxx xxxxxxx. However, the general contractor shall have the ultimate responsibility to make certain that a xxxxxxx is present when required by this Article, including all overtime. Said xxxxxxx shall be the only xxxxxxx on the project and be a working xxxxxxx. The xxxxxxx shall be notified twenty-four (24) hours before he/ she is to be laid-off, except when he/ she is the last xxxxxxxxx on the job with the exception of the xxxxxxxxx xxxxxxx when the xxxxxxx is performing punch list work only.
Section 3. In the event of a total temporary layoff, the xxxxxxx will be the first xxxxxxxxx to be recalled. The NERCC Council Representative shall be notified to recall the xxxxxxx so that in case the xxxxxxx is unavailable to return to the job or shop, the NERCC Council Representative will replace him or her.
Section 4. The xxxxxxx shall be permitted time to investigate any xxxxxxxxx grievance on his or her job during working hours with no loss of pay.
Section 5. Employers or their representatives shall refer all new Carpenters to the Shop Xxxxxxx before going to work.
Section 6. The Shop Xxxxxxx may report immediately to the Local Union Representative any violation of this agreement.
Section 7. It is compulsory that the xxxxxxx shall work while xxxxxxxxx work is being d...
Xxxxxxxx Clause. 8.01 The Employer agrees to the appointment of a Union Xxxxxxx by the Union Business Representative for the shop. The Local will notify the employer in writing to confirm the appointment of the person who will act as Xxxxxxx. The Xxxxxxx shall be one of the two members of the shop committee. In the event of a layoff, the Xxxxxxx shall have seniority. Provided the Xxxxxxx is capable of performing the work of one of the classifications remaining, he or she shall be retained in employment in preference to other employees. If willing to work overtime, the Xxxxxxx will have preference on all overtime work he is qualified to perform. The Xxxxxxx will act as the Representative for the Union on all Committees on which there are Bargaining Unit employees.
Xxxxxxxx Clause. Each Obligor shall perform its obligations under each Finance Document to which it is a party notwithstanding any failure by the Seller to fulfil its obligations under any commercial arrangement entered into with an Obligor or otherwise and no Obligor shall use any failure as an excise, defence, set-off or counterclaim in respect of its obligations under any Finance Document.
