CARDINAL OBLIGATION definition

CARDINAL OBLIGATION means, in accordance with § 9 clause 2 of the GTC SOFTWARE LEASING a material contractual obligation the fulfilment of which is a prerequisite for the proper performance of the CONTRACT or on the fulfilment of which the CUSTOMER regularly relies and may rely;
CARDINAL OBLIGATION means, in accordance with § 5 clause 2 of the GTC COMMER- CIAL GOODS a material contractual obligation, the fulfilment of which makes the proper per- formance of the CONTRACT possible in the first place or on the compliance of which the CUS- TOMER regularly relies and may rely;
CARDINAL OBLIGATION means an obligation whose fulfilment is a prerequisite for the proper execution of the contract and upon the adherence to which the contracting party relies and may rely;

Examples of CARDINAL OBLIGATION in a sentence

  • HID OR ITS SUPPLIERS SHALL ONLY BE LIABLE FOR THE VIOLATION OF AN OBLIGATION, THE PARTICULAR FULFILLMENT OF WHICH IS OF PARTICULAR SIGNIFICANCE FOR THE ACHIEVEMENT OF THE CONTRACTUAL PURPOSE (CARDINAL OBLIGATION).

  • THIS SHALL NOT APPLY TO DAMAGES CAUSED INTENTIONALLY OR DUE TO GROSS NEGLIGENCE BY MA LIGHTING, ITS REPRESENTATIVES OR ITS AGENTS OR DAMAGES RESULTING FROM A VIOLATION OF CARDINAL OBLIGATIONS OR MAJOR CONTRACTIONAL MAIN DUTIES RESULTING FROM ORDINARY NEGLIGENCE WHEREBY A CARDINAL OBLIGATION IN THIS TERMS IS AN ESSENTIAL CONTRACTUAL OBLIGATION WHOSE VIOLATION WOULD ENDANGER THE PURPOSE OF THE AGREEMENT.

  • Considering the importance of consistent, reliable, accurate and relevant land cover information required for GHG Inventories; most countries have made an effort to develop land cover maps.

  • A CARDINAL OBLIGATION SHALL MEAN A PRECISELY DELINEATED CONTRACTUAL OBLIGATION WHOSE FULFILMENT IS ESSENTIAL TO ACHIEVING THE PURPOSE OF THE CONTRACT HENCE WITHOUT ITS FULFILMENT THE ACHIEVEMENT OF THE CONTRACT’S PUPROSE WOULD BE ENDANGERED OR A CONTRACTUAL OBLIGATION WHOSE FULFILMENT PERMITS FOR THE PROPER EXECUTION OF THE CONTRACT AND ON WHOSE FULFILMENT THE CUSTOMER COULD REGULARTLY RELY.OBLIGATIONS THAT ARE NOT COMPRISED BY THAT DEFINION SHALL NOT BE CARDINAL OBLIGATIONS.

  • FOR VIOLATION OF A CARDINAL OBLIGATION LIABILITY IS FURTHER LIMITED TO THE FEES PAID AND/OR OWED (AS APPLICABLE) BY CUSTOMER FOR THE PLANS, PRODUCTS, OR SERVICES THAT ARE THE SUBJECT OF THE BREACH.

  • IN CASES OF NEGLIGENCE, THE PARTIES SHALL ONLY BE LIABLE FOR BREACH OF A MATERIAL CONTRACTUAL OBLIGATION (CARDINAL OBLIGATION), THE FULFILMENT OF WHICH IS ESSENTIAL FOR THE PROPER PERFORMANCE OF THE AGREEMENT AND ON THE OBSERRVANCE OF WHICH THE OTHER PARTY MAY REGULARLY RELY, AS WELL AS FOR DAMAGES RESULTING FROM INJURY TO LIFE, LIMB OR HEALTH.

  • HID OR ITS SUPPLIERS SHALL ONLY BE LIABLE FOR THE VIOLATION OF AN OBLIGATION, THE PARTICULAR FULFILMENT OF WHICH IS OF PARTICULAR SIGNIFICANCE FOR THE ACHIEVEMENT OF THE CONTRACTUAL PURPOSE (CARDINAL OBLIGATION).

Related to CARDINAL OBLIGATION

  • Additional Obligations as defined in the Base Intercreditor Agreement.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Principal Obligations means the aggregate outstanding principal amount of the Loans.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Additional Obligor means an Additional Borrower or an Additional Guarantor.

  • Municipal Obligation means municipal securities as described in the prospectus or other offering document for a Series.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Financial Obligation means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Parity Obligation means any instrument or other obligation issued or entered into by the Issuer that constitutes or qualifies as Additional Tier 1 Capital (or its equivalent) under applicable Capital Regulations or any instrument or other obligation issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank pari passu with the Capital Securities by operation of law or contract, which for the avoidance of doubt, excludes any Junior Obligations of the Issuer.

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Term Obligations shall have the meaning assigned that term in the Intercreditor Agreement.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.

  • Additional First Lien Obligations means any Indebtedness having Pari Passu Lien Priority relative to the Notes with respect to all or a portion of the Collateral whose Authorized Representative has executed a joinder to the First Lien Intercreditor Agreement.

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement, and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement. Notwithstanding the foregoing, for all purposes of the Credit Agreement Documents and any Other First Lien Agreements, any Guarantee of, or grant of a Lien to secure, any obligations in respect of a Hedging Agreement by a Pledgor shall not include any Excluded Swap Obligations.

  • Additional Senior Obligations means all indebtedness of the Company whether incurred on or prior to the date of this Indenture or thereafter incurred, for claims in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; provided, however, that Additional Senior Obligations does not include claims in respect of Senior Debt or Subordinated Debt or obligations which, by their terms, are expressly stated to be not superior in right of payment to the Debentures or to rank pari passu in right of payment with the Debentures. For purposes of this definition, "claim" shall have the meaning assigned thereto in Section 101(4) of the United States Bankruptcy Code of 1978, as amended.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • Legal financial obligation means a sum of money that is

  • Municipal Obligations means Municipal Bonds as described in the Offering Memorandum.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) which is subordinate or junior in right of payment to the Securities pursuant to a written agreement.