IMPLIED COVENANTS definition

IMPLIED COVENANTS. Neither payment of bonuses, rental royalties or compliance with any other covenant or condition of this Lease shall relieve Lessee from any other obligation expressed in this Lease or implied by the law unless this Lease expressly so relieves the Lessee.
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IMPLIED COVENANTS as used in this Agreement means any covenants (including any releases), representations or warranties in or arising as a result of the execution and delivery of the deeds contemplated in Section 8.3(a) of this Agreement, including without limitation, as a result of any statutory provisions which may be applicable thereto.
Sample 1

Examples of IMPLIED COVENANTS in a sentence

  • TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HERETO EACH MUTUALLY AND IRREVOCABLY WAIVE ALL IMPLIED COVENANTS INCLUDING THE IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING.

  • IT IS THE INTENTION AND DESIRE OF THE PARTIES THAT THE EXPRESS PROVISIONS OF THIS AGREEMENT NOT BE SUBJECT TO VARIATION BY IMPLIED COVENANTS OF ANY KIND.

  • THIS LEASE COVERS IN FULL EACH AND EVERY AGREEMENT OF EVERY KIND OR NATURE WHATSOEVER BETWEEN THE PARTIES AND THEIR RESPECTIVE AGENTS AND REPRESENTATIVES HERETO CONCERNING THIS LEASE, AND ALL PRELIMINARY NEGOTIATIONS AND AGREEMENTS OF WHATSOEVER KIND OR NATURE ARE MERGED HEREIN, AND THERE ARE NO ORAL AGREEMENTS OR IMPLIED COVENANTS.

  • THERE ARE NO EXPRESS OR IMPLIED COVENANTS OR WARRANTIES, ORAL OR WRITTEN, BETWEEN RCI AND MEMBER EXCEPT AS EXPRESSLY STATED IN THE NETWORK DOCUMENTS.

  • IT IS THE INTENTION AND DESIRE OF THE PARTIES THAT THE EXPRESSED PROVISIONS OF THIS AGREEMENT NOT BE SUBJECT TO VARIATION BY IMPLIED COVENANTS OF ANY KIND.

  • Like other clauses providing protection to the mineral owner, unless you specifically request a Pugh clause, you cannot be guaranteed the mineral developer will include it in its proposed lease.E. OTHER CONSIDERATIONS: FORCE MAJEURE, WARRANTY OFTITLE, IMPLIED COVENANTS, SHUT-IN ROYALTY, ETC.There are numerous other provisions that should be considered when negotiating an oil and gas lease with the mineral developer.

  • IT IS THE DESIRE AND INTENTION OF THE PARTIES THAT THE EXPRESS PROVISIONS OF THIS AGREEMENT NOT BE SUBJECT TO VARIATION BY IMPLIED COVENANTS OF ANY KIND.

  • IT IS THE INTENTION AND DESIRE OF THE PARTIES THAT THIS AGREEMENT NOT BE SUBJECT TO IMPLIED COVENANTS OF ANY KIND.

  • THIRD SCHEDULE IMPLIED COVENANTS BY TRANSFEREE PART I Covenants Implied in a Lease for Valuable Consideration Payment of Rent: To pay the reserved rent at the times and in the manner specified in the lease.

  • KEENIMPLIED COVENANTS ON THE PART OF THE LANDLORD/LESSORQuiet enjoyment i.e. not to disrupt tenant from enjoyment of the propertyNon-derogation from grant/titleProperty must be fit for human habitationCompliance with relevant laws guiding recovery of premises (notices) i.e. no room for self-help IMPLIED COVENANTS ON THE PART OF THE TENANT Payment of rent Payment of rates and taxes-NEPA/PHCNCovenant not to commit wasteKeep and deliver the premises in a tenantable condition-WARREN V.

Related to IMPLIED COVENANTS

  • Suspended Covenants has the meaning assigned to such term in Section 4.19.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Permitted Non-Recourse Guarantees means customary completion or budget guarantees or indemnities (including by means of separate indemnification agreements and carve-out guarantees) provided under Non-Recourse Debt in the ordinary course of business by the Company or any Subsidiary of the Company in financing transactions that are directly or indirectly secured by real estate assets or other real estate-related assets (including equity interests) of a Subsidiary of the Company (or entity in which the Company is the general partner or managing member), in each case that is the borrower in such financing, but is non-recourse to the Company or any of the Company’s other Subsidiaries, except for customary completion or budget guarantees or indemnities (including by means of separate indemnification agreements or carve-out guarantees) as are consistent with customary industry practice (such as environmental indemnities and recourse triggers based on violation of transfer restrictions and other customary exceptions to nonrecourse liability).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Covenants means the covenants set forth in Section 4 of this Agreement.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Contractual Obligations means, as to any Person, any provision of any security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its Property is bound.

  • Contractual Requirement shall have the meaning provided in Section 8.3.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Event of Noncompliance has the meaning set forth in the Certificate of Designation.

  • Breach of trust means a breach of any duty imposed on a trustee by this Act or by the terms of the trust;

  • Environmental Indemnity means that certain Environmental Indemnity Agreement, dated as of the date hereof, executed by Borrower and Guarantor in connection with the Loan for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Repeating Representations means each of the representations set out in Clause 19.1.1 (Status) to Clause 19.1.6 (Governing law and enforcement), Clause 19.1.10 (No default) to Clause 19.1.19 (Pari passu ranking) and Clause 19.1.25 (Sanctions).

  • Occasion of Tax Non-Compliance means: any tax return of the Supplier submitted to a Relevant Tax Authority on or after 1 October 2012 which is found on or after 1 April 2013 to be incorrect as a result of: a Relevant Tax Authority successfully challenging the Supplier under the General Anti-Abuse Rule or the Halifax Abuse Principle or under any tax rules or legislation in any jurisdiction that have an effect equivalent or similar to the General Anti-Abuse Rule or the Halifax Abuse Principle; the failure of an avoidance scheme which the Supplier was involved in, and which was, or should have been, notified to a Relevant Tax Authority under DOTAS or any equivalent or similar regime in any jurisdiction; and/or any tax return of the Supplier submitted to a Relevant Tax Authority on or after 1 October 2012 which gives rise, on or after 1 April 2013, to a criminal conviction in any jurisdiction for tax related offences which is not spent at the Call Off Commencement Date or to a civil penalty for fraud or evasion;

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Dealing Restrictions means restrictions imposed by statute, order, regulation or Government directive, or by the Model Code or any code adopted by the Company based on the Model Code and for this purpose the Model Code means the Model Code on dealings in securities set out in Listing Rule 9, annex 1 (of the London Stock Exchange), as varied from time to time;

  • Events of Default has the meaning specified in Section 6.01.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).