Fair Knowledge and Understanding definition

Fair Knowledge and Understanding means the degree of knowledge which a controlling shareholder of a Chilean public Corporation has with respect to the business of said open Corporation, in accordance with the law.
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Examples of Fair Knowledge and Understanding in a sentence

  • The Sellers, to their Fair Knowledge and Understanding, do not have knowledge of non-compliance with legal, regulatory or administrative resolutions which could give rise to a Relevant Detrimental Effect.

  • As to the Fair Knowledge and Understanding of the Sellers, no personal property alluded to is subject to Encumbrances, expect for those duly reflected in notes to the Balance.

  • As to the Fair Knowledge and Understanding of the Sellers, no pending judicial proceeding before any tribunal, arbitrator or Governmental Authority exists which could give rise, either jointly or individually, to a Relevant Detrimental Effect, or in any way significantly damage the Company's ability to conduct its business, except for the antecedents reflected in the notes to the Balance.

  • The public information presented by the Company before the SVS and Subtel reasonably reflects the economic, financial, legal and operational situation of the Company and its Affiliates, and on the date on which it was presented and to the Fair Knowledge and Understanding of the Sellers, no relevant information has been omitted that should have been included in said presentations.

  • The Sellers declare that to their Fair Knowledge and Understanding, the tax loss of Chilesat S.A. at December 31, 2002 was reviewed without major objections by the Internal Tax Service during the 2003 year.

  • The Company and its Affiliates are holders of the concessions of telecommunications and their modifications set forth individually in Annex No. 4.12 of this Stock Purchase, which are sufficient in the Fair Knowledge and Understanding of the Sellers to conduct their business in a form substantially similar to that which they have been doing through this date.