Second Paragraph. The PROMISING TRANSFEROR has all necessary corporate power and authority and has taken all corporate action necessary to enter into this Agreement, to consummate the transactions contemplated on its part hereby and to perform its obligations hereunder. The execution, delivery and performance of this Agreement and the consummation of the transactions described herein by the PROMISING TRANSFEROR have been duly authorized by all requisite corporate action. This Agreement has been duly executed and delivered by the PROMISING TRANSFEROR and, assuming the due execution and delivery thereof by the PROMISING TRANSFEREE, is a valid and binding obligation of the PROMISING TRANSFEROR, enforceable against it in accordance with its terms.
Second Paragraph. In case the Due Date does not occur on a Working Day in the county of Sao Paulo or Vitoria, the payment must be made on the first subsequent Working Day. Third Paragraph- The invoice, with corresponding due dates, shall be presented by Seller to Purchaser at least 5 (five) Working Days before the first due date. Fourth Paragraph- the sums of the invoices shall be deposited in the checking account indicated by Seller. 7th Clause- The Price mentioned in 5th Clause above, updated according to the Third Paragraph of it, shall be readjusted during the whole Period of Supply, every 12 (twelve) months (or at the smallest periodicity allowed by the Applicable Legislation, as long as this smallest periodicity be equally applicable to the readjustment of fees of Escelsa, as foreseen in the contract of concession of distribution of Escelsa) based on the accumulated variation of the IGPM in that period, which shall correspond to the index obtained by the division of the indexes of IGPM of the month preceding the readjustment and of the month before the last readjustment. 8th Clause- In case, related to any invoice, there are undisputed sums and related sums which Purchaser may have questioned the respective certainty and liquidity, Purchaser, independent of the questioning presented in print to Seller, before the Due Date, must, in the respective Due Date, make the payment of the unquestionable parcel, risking, with the objection, to portray its default. Having solved the matter related to the questioned parcel within at most 10 (ten) Working Days, Purchaser must, within 5 (five) Working Days from the date in which the composition between the Parties shall take place, make the payment of the remaining parcel of the value of the referred parcel, plus interest, in the terms of 9th Clause below. The interest shall be calculated pro rata die between the Due Date of the respective invoice and the date of the effective payment, being understood and accepted that the interest rate above mentioned shall only be applicable to the remaining values, object of controversy, in the hypothesis of the questioning by Purchaser being erroneous. 9th Clause- In case, for any reason, Purchaser does not pay the invoice or part of the sum of the invoice issued by Seller on the Due Date or, in case of the non-payment of part of the invoice, within the period established in 8th Clause above, whichever the case, Purchaser shall be subject to the payment of the due sum, plus a fine of 2% (two p...
Second Paragraph. The PROMISING TRANSFEROR shall use its best efforts so as to obtain the previous administrative authorization(s) required in connection with the execution of the definitive transfer agreement, cooperating, in a diligent and active manner, in all bureaucratic proceedings which may be necessary or convenient to accomplish such end. The PROMISING TRANSFEROR also agrees, if necessary, to look for alternative solutions to make such transfer possible, provided such alternative solutions are not excessively burdensome.
Examples of Second Paragraph in a sentence
The generic product modeling language is in essence a parametrised data-structure.
Second Paragraph The Creditor Institution shall have the option of delivering to Net ServiÇos the notices, communications and/or notifications addressed to any Net Group Company, and in the same way, any Net Group Company shall have the option of delivering to the Collateral Agent any notice, communication and/or notification addressed to the Creditor Institution related to the Pledge Agreements mentioned in item (4) of the Preamble to this Instrument.
Proceedings of the Senate Relating to the Classification of United States Senators under the Second Paragraph of the Third Section of the First Article of the Constitution of the United States: Taken from the Journals of the Senate.
Second Paragraph – Within the limit of the authorized capital and in accordance with a plan approved by the General Shareholders’ Meeting, the Company may grant stock options to the members of its management bodies or employees, or to individuals providing services to the Company.
Second Paragraph – The shares shall be recorded in book-entry systems and be kept in deposit accounts on behalf of their holders with the authorized financial institution designated by the Company, without issuance of share certificates.
More Definitions of Second Paragraph
Second Paragraph. For purposes of the exercise of the option by the PROMISING TRANSFEREE, as provided in the First Paragraph above, it is incumbent upon it to present to the PROMISING TRANSFEROR the text of the definitive transfer agreement or agreements, depending on whether it opts for the joint transfer of the Permissions, or for their transfer individually or in groups.
Second Paragraph. The PROMISING TRANSFEREE has all necessary corporate power and authority and has taken all corporate action necessary to enter into this Agreement, to consummate the transactions contemplated on its part hereby and to perform its obligations hereunder. The execution, delivery and performance or this Agreement and the consummation of the transactions described herein by the PROMISING TRANSFEREE have been duly authorized by all requisite corporate action. This Agreement has been duly executed and delivered by the PROMISING TRANSFEREE and, assuming the due execution and delivery thereof by the PROMISING TRANSFEROR, is a valid and binding obligation of the PROMISING TRANSFEREE, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratoriums or other similar laws now or hereafter in effect relating to creditors, rights generally and by general principles of equity (whether considered in an action at law or in equity) and the discretion of the court before which any proceeding therefor may be brought. Clause Seven: MUTUAL COVENANTS OF THE PARTIES First Paragraph: From the date hereof until the date upon which the definitive agreement(s) for the transfer of the Permissions are executed, the PROMISING TRANSFEROR shall:
Second Paragraph. The provisions in Clause 19 shall apply for any amounts being contested that may be later agreed on, or which may get defined as being the amounts due, except for the fine. Interest and adjustment for inflation shall be computed as of the due date of the parcel being contested and until the date of its settlement, excluding the day of settlement itself.
Second Paragraph. In case of any unjustified delay in the payment of invoices not objected on time by THE BUYER, in accordance with the provisions in the first paragraph of this article, THE BUYER shall recognize to THE SELLER, as interest payable in pesos, the highest interest rate authorized by the Superintendence of Finance during the default days effectively elapsed. In order to calculate the late interests, the amount of the overdue invoice(s) in dollars shall be first converted to Colombian pesos at the market representative exchange rate, on their date of issuance, as per certification of the Superintendence of Finance of Colombia. THE BUYER shall pay the invoices charging late interests thirty (30) calendar days after their reception by THE BUYER. Both THE BUYER and THE SELLER understand that the invoices issued as well as the Contract hereof shall be a writ of execution and THE BUYER and SELLER expressly wave any private or judicial requirements to file as default.
Second Paragraph. For purposes of this Clause, "Accumulated DI factor" shall mean, for any calculation date, the effective interest rate for the period from January 01, 2004 until the calculation date, published by the Securities Custody and Settlement Center -- CETIP.
Second Paragraph. The lessee cannot perform any modifications or alterations in the property, without the express consent of the lessor. EIGHTH CLAUSE: For the effect of insurance of the appliances, furniture, and utensils that belong to the property and are listed in the inventory (attached to the agreement), and that are an integral part to this agreement, on the occasion of receiving the keys of the property, the lessee will give to the lessor the value of ( ), to be deposited as collateral and/or pre-authorized charge in the same way used for payment, that will berefunded to the lessee and the end of the agreement, as well as all the bills and obligations of the lessee’s responsibility be paid in full. First Paragraph: If any irregularity is verified, the amount owed will be calculated and then deducted from the total to be refunded to the lessee at the end of the term and return of the keys. NINTH CLAUSE: The lessee declares full knowledge of the Rules and Regulations of the building, as well as to keep a standard of good behavior with the neighbors (like: avoiding excessive loud noises after 10pm, to make parties with a excessive number of guests, among others). The non compliance with such standards shall cause the immediate termination of this agreement, independent of any prior notice, and also a fine equal to 3 (three) times the daily rental rate and charges related to damages the lessor may incur. TENTH CLAUSE: The vacancy of the propriety by the lessee before the end of term defined in the lease, a period that is already paid for, will not cause any refunds of what has already been paid, with the exception of the deposit or the pre-authorized charge, deduced of any eventual charges established in the aforementioned clauses. ELEVENTH CLAUSE: The Jurisdiction of the city of Rio de Janeiro is chosen to settle any disputes that may arise from this lease agreement, renouncing all others. And, being in agreement of the aforementioned clauses and conditions, the undersigned agree to this Lease. Xxx xx Xxxxxxx , xx xx 00
Second Paragraph. The credit opened in the form of the present clause shall be placed in stages at the disposal of the CREDIT RECIPIENT in accordance with the necessities for carrying out the project, with the financial scheduling of BNDES and the availability of the resources coming from the Credit Opening Contract No. 91.2.