ELEVENTH CLAUSE definition
ELEVENTH CLAUSE. All correspondence referred to in this instrument will be made via facsimile or letter with proof of receipt addressed to: SELLERS: ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, n(0) 207, 8(0) andar CEP 01423-000, Sao Paulo, Brasil Fax: ▇▇ (▇▇) ▇▇▇-▇▇▇▇ PURCHASER: ▇▇. ▇▇▇▇▇▇▇ St, Laurent III ▇▇▇ ▇, ▇/▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇/▇▇ ▇▇▇ 45650-000, Ilheus, Bahia, Brasil Fax: ▇▇ (▇▇) ▇▇▇-▇▇▇▇ FIRST PARAGRAPH - The correspondence will be considered as received with the proof of the fax transmission or proof of receipt. TWELFTH CLAUSE - In the event that there should occur any fact which might prevent the execution of the transfer of STOCKS and/or SHARES ENTITLED BY THE SELLERS to the PURCHASER, they are obligated to communicate this fact, within 30 (thirty) days as of the DATE OF SETTLEMENT, to the SELLER, indicating, in writing, to what entity, person or business, the STOCKS and/or SHARES ENTITLED BY THE SELLER should be transferred, which the SELLERS expressly agree to. THIRTEENTH CLAUSE - The present instrument is signed and is irrevocable and irretractable, obligating the parties, their heirs and successors. FOURTEENTH CLAUSE - Any dispute, controversy or demand arising from this contract will be resolved by a Arbitration Court, in the City of Sao Paulo, which should follow the Rules of Conciliation and Arbitration of the International Chamber of Commerce ("Rules of Conciliation and Arbitration of the International Chamber of Commerce - ICC").
ELEVENTH CLAUSE. INDEMNITY: The EXECUTING ENTITY undertakes to indemnify, defend and hold PROMIGAS, its directors, partners, employees, successors and assignees (hereinafter the "Indemnified Party"), harmless and free from liability, for, including without limitation, any claim, demand, requirement of any person or authority, loss, lawsuit, administrative or judicial proceeding, seizure, payment, judgment, settlement, penalties, fines, enforcement of policies, expense (including, but not limited to legal fees and other legal costs), prejudice, damage, including consequential damages and loss of profits, indirect or consequential damages, moral damages, physiological damages, punitive damages, which have been, or are alleged to have been, directly or indirectly caused or contributed, in whole or in part, to any action or omission, slight, very slight or serious fault, fraud, of an active or passive nature, or caused by or on account of the performance of the obligations hereof or breach of the obligations undertaken hereunder, by the EXECUTING ENTITY or its agents, subordinates, employees, subcontractors or persons who are employed or under the responsibility of the EXECUTING ENTITY. TWELFTH CLAUSE: ANTI-BRIBERY AND ANTI-CORRUPTION COMMITMENT. COMMITMENT TO ETHICS. BUSINESS TRACEABILITY. CONFLICTS OF INTEREST. COMPLIANCE WITH THE PROVISIONS OF BUSINESS ETHICS OF PROMIGAS IN ACCORDANCE WITH THE PROVISIONS OF THE LAW AND THE STANDARDS OF THE LAW “FOREIGN CORRUPT PRACTICES ACT (FCPA)”, AND FULFILLMENT OF RULES ON PREVENTION OF MONEY LAUNDERING AND TERRORISM FINANCING (ML/FT) AND INFORMATION SECURITY.
ELEVENTH CLAUSE. OBLIGATIONS BY THE SOCIAL WELFARE. SOCIAL WELFARE undertakes to:
Examples of ELEVENTH CLAUSE in a sentence
ELEVENTH CLAUSE: VALIDITY The present Academic Agreement Interinstitutional Framework will enter into force as of the date of its subscription by legal representatives of both institutions and will have a duration of five (5) years, and may be renewed by means of a similar document according to convenience and previous evaluation of the parties.
Any materia l deviatio n t o th e standard s shal l be cause fo r immediat e terminatio n o f thi s Agreement by th e Offic e as provide d i n th e ELEVENTH CLAUSE.
In the case of no resolution of the no fulfillment in that period, the reliable part could ask the intervention of the Arbitration Judge in the terms of the ELEVENTH CLAUSE or ask for the resolution of the contract.
More Definitions of ELEVENTH CLAUSE
ELEVENTH CLAUSE. ADMINISTRATIVE CADUCITY: As for the caducity and its effects the present contract will be submitted to the provisions of Article 18, law 80 of 1993. Likewise, is causal of caducity to incur by the CONTRACTOR in any of the conducts indicated in Articles 2 and 3 of Decree 1875, 1992, Article 82, law 104, 1993 and in the events in which a representative by the CONTRACTOR may hide or collaborate in the payment for the release of an official or employee of the company who is kidnapped or when the CONTRACTOR pays amounts of money to extortioners. In the case of declaration of caducity of the contract, it will be done through resolution by the Administrative and Financial Direction of the National Police, in which the causes of it are explained. Such decision will be notified in the same way previously indicated for the fine and against it will proceed the reinstatement recourse, and the CONTRACTOR shall support it within the five (5) days following the notification. Once In firm the resolution that decrees the administrative caducity, this contract will become definitely terminated and the CONTRACTOR will not be entitled to claim any indemnification.
ELEVENTH CLAUSE. No partner can give or transfer any of his shares to the other partner or to third parties which are associated to the present partners, without the previous written authorization of the partner representing the majority of stockholders' equity, and that partner will have the priority to purchase the shares, in the same conditions and in proportion to participation in the stockholders' equity. The right of priority will be in effect for 30 (thirty) days. 1ST SUB-CLAUSE: Entry of new partners which are not part of the economic grouping to which belong the present partners, will only be permitted by consent of the partners representing the totality of stockholders' equity.