CLAUSE TWELVE definition

CLAUSE TWELVE. The parties do hereby expressly acknowledge that there is no relationship among them other than that of independent contracting parties; thus, none of the parties may assume powers of representation or agency for the other party. Accordingly, none of the parties may, directly or indirectly, carry on businesses or enter into agreements with third parties on behalf of the other, or assume obligations on their own account. CLAUSE THIRTEEN: Plus binds itself to observe all production standards established by Safe. CLAUSE FOURTEEN: Safe shall be entitled to supervise, periodically and regularly, the manufacturing process of Plus, and the latter shall award Safe free access to the place where said manufacturing takes place, as often as required. In any event, Safe shall ensure that it shall not cause interruptions and/or disturbances in the productive and/or commercial activities of Plus. During the term of this agreement, Plus shall maintain, on behalf of the joint venture, separate bank accounts and complete and accurate books and records (including, but not limited to, invoices, correspondence, banking and financial records covering all transactions relating to the manufacture and marketing of the Product and business of the joint venture). All funds receive and held by Plus on behalf of the joint venture shall be deemed trust funds. In addition, Plus shall furnish Safe with quarterly financial statements for the joint venture, including without limitation, detailed profit and loss statements. Safe and its duly authorized representatives shall have the right, upon at least five business days notice to examine and copy at Plus offices during business hours all the said books and records and all other documents and materials in the possession or under the control of Plus and its parents, subsidiaries, affiliates and related entities relating to or connected with the subject matter of this agreement.
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CLAUSE TWELVE. EFFECT This document has a maximum duration of 30 (thirty) years, pursuant to the provisions of Article 394 of the General Law of
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CLAUSE TWELVE. This Agreement will terminate on December 12, 2002 and may be extended by the parties.
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Examples of CLAUSE TWELVE in a sentence

  • GRANTING CLAUSE TWELVE [MINERALS, ETC.] TOGETHER WITH, all oil and gas and other mineral rights, if any, in or pertaining to the Land and all royalty, leasehold and other rights of Trustor pertaining thereto.

  • GRANTING CLAUSE TWELVE All rights which Mortgagor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.

  • GRANTING CLAUSE TWELVE [MINERALS, ETC.] TOGETHER WITH all oil and gas and other mineral rights, if any, in or pertaining to the Land and all royalty, leasehold and other rights of Trustor pertaining thereto.

  • Once the additional capital is approved by LAGOVEN, the PARTIES will agree to adjust the rate according to CLAUSE TWELVE - RATE AND ADJUSTMENTS.

  • CLAUSE TWELVE - Any disputes will be resolved by the jurisdiction where the fact takes place and, if necessary, judged by the principles of Public International Law.

  • GRANTING CLAUSE TWELVE All rights which Trustor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, reasonable attorneys' fees and disbursements) relating to the Real Property or any part thereof.

  • GRANTING CLAUSE TWELVE TOGETHER WITH, absolutely and presently, all rents, issues, profits, cash collateral, royalties, income and other benefits, including, without limitation, benefits accruing from all present and future oil, gas and mineral leases and agreements derived from the Premises (collectively, the "Rents"), subject to the ----- right, power and authority hereinafter given to Mortgagor as a licensee to collect and apply such Rents prior to the occurrence of a default hereunder.

  • GRANTING CLAUSE TWELVE All rights which Grantor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.

  • CLAUSE TWELVE – REPRESENTATIONS – BORROWER represents that the execution hereof and the performance of its obligations hereunder is not a breach or default of any other agreement, understanding or any other instrument of which BORROWER is a party or by which BORROWER is bound.

  • Loan No. 6518370 GRANTING CLAUSE TWELVE All rights which Mortgagor now has or may hereafter acquire to be indemnified and/or held harmless from any liability, loss, damage, cost or expense (including, without limitation, attorneys' fees and disbursements) relating to the Real Property or any part thereof.


More Definitions of CLAUSE TWELVE

CLAUSE TWELVE. CONCESSIONAIRE shall be bound to and cause its employees to abide by the approved rates and the Timetable (HOTRAN) approved, and all provisions of laws, regulations, instructions, directives in force now or in the future in connection with or applicable to the services. SOLE PARAGRAPH - The rates to be charged are subject to the approval of DAC under the regulations in force now or in the future. In order to determine such rates, the costs, the economic feasibility of the operation, the competition conditions, and, if possible, the economic conditions of the region served by the airlines are to be considered. CLAUSE THIRTEEN - CONCESSIONAIRE shall be subject to fines and other administrative measures provided for in the Brazilian Code of Aeronautics. CLAUSE FOURTEEN - This agreement shall be terminated by legal forfeiture resulting from the order of the Aeronautics Commander, regardless of legal notice, in the following events:
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CLAUSE TWELVE. NOTIFICATIONS — For the purposes and effects of the provisions of the article 58, item IV of Law no. 8245/91, it is expressly authorized that the notice, the judicial/extrajudicial notification or summon of the SUBLANDLORD, SUBTENANT or of any part related to this agreement, may be performed by mail with receipt notice, telegram or facsimile.
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CLAUSE TWELVE. Mutual benefit: The parties expressly state that this agreement is the result of negotiations and mutual concessions between them, which are to their mutual benefit.
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CLAUSE TWELVE. Upon termination of the lease, LESSEE shall return the premises fully vacant of persons and things, in perfect maintenance and preservation conditions, regardless of any notice or notification, under penalty of being submitted to the fines herein imposed and other applicable legal provisions. First Paragraph: Delivery of the premises will occur upon delivery of the keys by LESSEE to LESSOR after inspection thereon. Clause Thirteen: This lease agreement shall be terminated in the event that reconstruction of the building is required as a result of fire or any accident, however, if LESSEE is to be blamed for such fire or accident, then it shall remain responsible even if the leased premises return to their previous condition. Paragraph One: In the event of expropriation of the leased premises by any competent public authority, this lease agreement shall be terminated and the parties hereof shall be released from any obligations established in this agreement, exception made to any rights resulting therefrom up to the time when expropriation takes place.
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Related to CLAUSE TWELVE

  • Article means an article of this Agreement unless another document is specifically referenced.

  • Clause means a clause of this Agreement;

  • Additional Defeasible Provision means a covenant or other provision that is (a) made part of this Indenture pursuant to an indenture supplemental hereto, a Board Resolution or an Officer’s Certificate delivered pursuant to Section 3.1, and (b) pursuant to the terms set forth in such supplemental indenture, Board Resolution or Officer’s Certificate, made subject to the provisions of Article Thirteen.

  • Article 55 BRRD means Article 55 of Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms.

  • Forced or indentured child labor means all work or service-

  • Legal Defeasance has the meaning set forth in Section 9.02.

  • Paragraph 3 The use of new instructional materials and classroom presentations that may involve controversial issues should be planned by the individual teacher and discussed with the department chairman and the building principal before they are initiated in the classroom.

  • Section 3 means Section 3 of the Housing and Urban Development Act of 1968.

  • Covenant Defeasance has the meaning specified in Section 1303.

  • transaction charge means any amount charged to a client by a registered firm in respect of a purchase or sale of a security and includes any federal, provincial or territorial sales taxes paid on that amount;

  • Defeasance has the meaning specified in Section 13.2.

  • Additional Junior Indebtedness means, without duplication and other than the Debentures, any indebtedness, liabilities or obligations of the Company, or any Subsidiary of the Company, under debt securities (or guarantees in respect of debt securities) initially issued after the date of this Indenture to any trust, or a trustee of a trust, partnership or other entity affiliated with the Company that is, directly or indirectly, a finance subsidiary (as such term is defined in Rule 3a-5 under the Investment Company Act of 1940) or other financing vehicle of the Company or any Subsidiary of the Company in connection with the issuance by that entity of preferred securities or other securities that are eligible to qualify for Tier 1 capital treatment (or its then equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve, as then in effect and applicable to the Company (or, if the Company is not a bank holding company, such guidelines applied to the Company as if the Company were subject to such guidelines); provided, however, that the inability of the Company to treat all or any portion of the Additional Junior Indebtedness as Tier 1 capital shall not disqualify it as Additional Junior Indebtedness if such inability results from the Company having cumulative preferred stock, minority interests in consolidated subsidiaries, or any other class of security or interest which the Federal Reserve now or may hereafter accord Tier 1 capital treatment (including the Debentures) in excess of the amount which may qualify for treatment as Tier 1 capital under applicable capital adequacy guidelines.

  • Japanese Yen means the lawful currency of Japan.

  • Early Termination Charge means, with respect to any 2019-B Lease that is terminated prior to its Maturity Date, an amount equal to the lesser of (a) the present value (discounted at the implicit rate of such 2019-B Lease) of all remaining Monthly Payments and (b) the excess, if any, of the adjusted 2019-B Lease balance over the related 2019-B Vehicle’s fair market wholesale value in accordance with accepted practices in the automobile industry (or by written agreement between the Servicer, on behalf of the Titling Trust, and the Lessee).

  • Junior Indebtedness means any indebtedness of any Mortgagor that is secured by a lien that is junior in right of payment to the lien of the Mortgage securing the related Mortgage Note.

  • Clauses means this Addendum, incorporating the Addendum EU SCCs;

  • Guarantor Senior Indebtedness means all indebtedness, obligations or liabilities of the Guarantor, whether outstanding at the date of effectiveness of the Fifth Supplemental Indenture to the Indenture or thereafter incurred, assumed, guaranteed or otherwise created (including, without limitation, interest accruing on or after a bankruptcy or other similar event, whether or not an allowed claim therein), in respect of (A) indebtedness of the Guarantor for money borrowed, (B) indebtedness evidenced by securities, debentures, bonds, notes or other similar instruments issued by the Guarantor, (C) all capital lease obligations of the Guarantor, (D) all obligations of the Guarantor issued or assumed as the deferred purchase price of property, all conditional sale obligations of the Guarantor and all obligations of such obligor under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business), (E) all obligations of the Guarantor for reimbursement on any letter of credit, banker's acceptance, security purchase facility or similar credit transaction, (F) all obligations of the type referred to in clauses (A) through (E) of other Persons for the payment of which the Guarantor is responsible or liable as obligor, guarantor or otherwise, and (G) all obligations of the type referred to in clauses (A) through (F) of other Persons secured by any lien on any property or asset of the Guarantor (whether or not such obligation is assumed by such obligor), except for any such indebtedness, obligations or liabilities the terms of which expressly provide that such indebtedness, obligation or liability is equal or subordinated in right of payment to the Guarantor's guarantee with respect to the Subject Securities, as the case may be. For greater certainty, "Guarantor Senior Indebtedness" includes all indebtedness, obligations or liabilities between or among the Guarantor and its Affiliates, except for such indebtedness, obligations or liabilities the terms of which expressly provide that such indebtedness, obligation or liability is equal or subordinated in right of payment to the Guarantor's guarantee with respect to the Subject Securities, as the case may be.

  • Threshold Event Cure shall have the meaning assigned to such term in Section 5(g).

  • Termination Charge means a charge levied when an unamortized balance remains and the Jurisdiction requests termination of Street Lighting Service. The charge is determined by costs of equipment, installation, removal, disposal, Capital Recovery Period, and Utility Financing Cost minus payments made to date for the specific fixtures.

  • RUNNING CHARGE PER KILOMETER means the rates payable against each KM run. and shall be deemed to include all the expenditures of the Transport Supplier viz., cost of fuel, tyre/tube, battery & consumables like lubricants etc. and other maintenance expenditures including accessories involved including GST element as applicable towards movement of the vehicle(s)/equipment.

  • EU Standard Contractual Clauses means: (i) the standard contractual clauses adopted by the European Commission on 4th June 2021 or (ii) such other standard contractual clauses that are approved by the European Commission for Controller to Processor transfers of Personal Data to a third country which has not received an EU Adequacy Decision (and are subsequently incorporated into the DPA). GDPR means the EU General Data Protection Regulation being Regulation (EU) 2016/679.

  • Maximum daily discharge limitation means the highest allowable “daily discharge.”

  • Section 2 Nonresident BIDDER" means a BIDDERS whose principal place of business is not in this state, but excludes a contractor whose ultimate parent company or majority owner has its principal place of business in this state.

  • Engineer-In-Charge (EIC means the Engineer officer authorised to direct, supervise and be In-charge of the works for the purpose of this contract who shall supervise and be in charge of the work.

  • Paragraph means a portion of this Consent Decree identified by an Arabic numeral.

  • Senior Indebtedness means, with respect to the Company, (i) the principal, premium, if any, and interest in respect of (A) indebtedness of the Company for money borrowed and (B) indebtedness evidenced by securities, debentures, notes, bonds or other similar instruments issued by the Company; (ii) all capital lease obligations of the Company; (iii) all obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations of the Company and all obligations of the Company under any title retention agreement; (iv) all obligations of the Company for the reimbursement of any letter of credit, any banker's acceptance, any security purchase facility, any repurchase agreement or similar arrangement, any interest rate swap, any other hedging arrangement, any obligation under options or any similar credit or other transaction; (v) all obligations of the type referred to in clauses (i) through (iv) above of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; and (vi) all obligations of the type referred to in clauses (i) through (v) above of other Persons secured by any lien on any property or asset of the Company (whether or not such obligation is assumed by the Company), whether incurred on or prior to the date of this Indenture or thereafter incurred. Notwithstanding the foregoing, "Senior Indebtedness" shall not include (1) any Additional Junior Indebtedness, (2) Debentures issued pursuant to this Indenture and guarantees in respect of such Debentures, (3) trade accounts payable of the Company arising in the ordinary course of business (such trade accounts payable being pari passu in right of payment to the Debentures), or (4) obligations with respect to which (a) in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that such obligations are pari passu, junior or otherwise not superior in right of payment to the Debentures and (b) the Company, prior to the issuance thereof, has notified (and, if then required under the applicable guidelines of the regulating entity, has received approval from) the Federal Reserve (if the Company is a bank holding company) or the OTS (if the Company is a savings and loan holding company). Senior Indebtedness shall continue to be Senior Indebtedness and be entitled to the subordination provisions irrespective of any amendment, modification or waiver of any term of such Senior Indebtedness.