Capital Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Credit Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered; provided that the Borrower shall not be required to compensate such Lender or the L/C Issuer, as the case may be, pursuant to this paragraph for any amounts incurred more than 180 days prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of such Lender’s or the L/C Issuer’s intention to claim compensation therefor; provided, further, that if the circumstances giving rise to such claim have a retroactive effect, then such 180 day period shall be extended to include the period of such retroactive effect.
Diligence Requirements. Surface shall use commercially reasonable efforts, or shall cause one or more of its Affiliates and Sublicensees to use commercially reasonable efforts, to
Tax Requirements. The Participant is hereby advised to consult immediately with his or her own tax advisor regarding the tax consequences of this Agreement, including, without limitation, any possible tax consequences of this Agreement in connection with Section 409A of the Code. The Company, or if applicable, any Subsidiary (for purposes of this Section 29, the term “Company” shall be deemed to include any applicable Subsidiary) has the authority and the right to deduct or withhold, or require the Participant to remit to the employer, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation) required by law to be withheld with respect to any taxable event arising as a result of the vesting or conversion of the RSUs. Unless otherwise determined by the Committee at the time the Award is granted or thereafter, the Company shall satisfy any such withholding requirement by withholding the number of Awarded Shares having a Fair Market Value on the date of withholding equal to the amount required to be withheld for tax purposes.
Filing Requirements. From the date of this Agreement until the Notes are no longer outstanding, the Company will timely and voluntarily comply with all reporting requirements that are applicable to an issuer with a class of shares registered pursuant to [Section 12(g)] of the 1934 Act, whether or not the Company is then subject to such reporting requirements, and comply with all requirements related to any registration statement filed pursuant to this Agreement. The Company will use reasonable efforts not to take any action or file any document (whether or not permitted by the 1933 Act or the 1934 Act or the rules thereunder) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under said acts until the Notes are no longer outstanding. The Company will maintain the quotation or listing of its Common Stock on the OTCBB, OTCQB, and OTC Pink, NYSE, or NASDAQ Stock Market (whichever of the foregoing is at the time the principal trading exchange or market for the Common Stock (the “Principal Market”), and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Principal Market, as applicable. The Company will provide Purchaser with copies of all notices it receives notifying the Company of the threatened and actual delisting of the Common Stock from any Principal Market. As of the date of this Agreement and the Closing Date, the OTC Pink, is the Principal Market. Until the Note is no longer outstanding, the Company will continue the listing or quotation of the Common Stock on a Principal Market and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Principal Market.
General Requirements. Tenant shall not assign, transfer or otherwise encumber (collectively, assign) this Lease or all or any of Tenants rights hereunder or interest herein, or sublet or permit anyone to use or occupy (collectively, sublet) the Premises or any part thereof, without obtaining the prior written consent of Landlord, which consent may be withheld or granted in Landlords sole and absolute discretion (subject to the remainder of this Article VII). Notwithstanding any of the foregoing to the contrary, provided no Event of Default has occurred and is continuing, and subject to Landlords rights and Tenants obligations pursuant to [Sections 7.3, 7.4 and 7.5]5]5] below, Landlord shall not unreasonably withhold, condition or delay its consent to any proposed subletting of the entire or any portion of the Premises or assignment of the Lease in its entirety. For purposes of the immediately preceding sentence, it shall be reasonable for Landlord to withhold its consent if, for example: # the proposed subtenant or assignee is engaged in a business, or the Premises will be used in a manner (other than general office use), that is inconsistent with the first class image of the Building, or would cause Landlord to be in violation of any covenant or restriction granted by Landlord on an arms-length basis contained in another lease or other agreement at the Building with an unaffiliated third party, except no such restriction shall prevent the use of the Premises for general office use with lawful accessory uses; or # Landlord is not reasonably satisfied with the financial condition of the proposed subtenant or assignee, with due regard for the financial obligations of the proposed subtenant or assignee being undertaken pursuant to the proposed assignment or sublease, and the fact that Tenant will remain liable for all financial and other obligations under this Lease; or # the proposed use of the Premises is not in compliance with Article VI or is not compatible with the other uses within, and the terms of other leases with respect to, the Building; or # the initial Tenant does not remain fully liable as a primary obligor for the payment of all Rent and other charges payable by Tenant under this Lease and for the performance of all other obligations of Tenant under this Lease; or # the proposed subtenant or assignee is a governmental or quasi-governmental agency; or # where their consent is required, the holders of Mortgages encumbering the Building or the Commercial/Garage Unit shall fail to consent (Landlord hereby agreeing to use commercially reasonable efforts to obtain such consent if Landlord otherwise approves such transaction); or # the proposed subtenant or assignee is either # an existing tenant of the Building (or any parent, subsidiary or affiliate thereof), or # for a period of seventy-five (75) days following the submission of a written proposal for the lease of space (and thereafter if a mutual agreement such as a letter of intent is executed within such period), any other person or entity with which Landlord has been negotiating for the rental of space in the Building, provided that in either such case Landlord shall have other space available in the Building which could reasonably be expected to meet such person or entitys space needs and time constraints. For the avoidance of doubt, the foregoing list of conditions is not intended to be an exhaustive list of the conditions under which Landlord may disapprove a proposed subletting or assignment hereunder, and rather it is a list of conditions that must all be satisfied in order for Landlord to be obligated not to unreasonably withhold, condition or delay its consent. No assignment or right of occupancy hereunder may be effectuated by operation of law or otherwise without the prior written consent of Landlord. Any attempted assignment, transfer, or other encumbrance of this Lease or all or any of Tenants rights hereunder or interest herein, any sublet or permission to use or occupy the Premises or any part thereof not in accordance with this Article VII, shall be void and of no force or effect. Any assignment or subletting, Landlords consent thereto, the listing or posting of any name other than Tenants, or Landlords collection or acceptance of rent from any assignee or subtenant shall not be construed either as waiving or releasing Tenant from any of its liabilities or obligations under this Lease as a principal and not as a guarantor or surety, or as relieving Tenant or any assignee or subtenant from the obligation of obtaining Landlords prior written consent to any subsequent assignment or subletting, where such consent is required hereunder. As security for this Lease, Tenant hereby assigns to Landlord the rent due from any assignee or subtenant of Tenant (but Landlord hereby grants Tenant a license to collect any such rent until an Event of Default). During any period that an Event of Default has occurred and remains uncured, Tenant hereby authorizes each such assignee or subtenant to pay said rent directly to Landlord upon receipt of written notice from Landlord, with a copy thereof to Tenant, specifying same. Landlords collection of such rent shall not be construed as an acceptance of such assignee or subtenant as a tenant. Any rent so paid by an assignee or subtenant to Landlord shall be credited to Tenants obligations under this Lease. Any mortgage, pledge, hypothecation or encumbrance (collectively mortgage) of this Lease or Tenants leasehold interest shall be considered an assignment of this Lease and subject to Landlords prior written consent to the extent provided in this Article VII. Tenant shall pay to Landlord all reasonable, out-of-pocket, third party expenses (including reasonable attorneys fees and accounting costs) incurred by Landlord in connection with Tenants request for Landlord to give its consent to any assignment, subletting, or mortgage, and Landlords receipt of such sum shall be a condition to Landlord providing such consent. Any sublease, assignment or mortgage shall, at Landlords option, be effected on forms reasonably approved by Landlord (such approval not to be unreasonably conditioned or delayed). Tenant shall deliver to Landlord a fully-executed copy of each agreement evidencing a sublease, assignment or mortgage, and Landlords consent thereto (where such consent is required by the terms of this Lease), on Landlords standard form consent document (subject to reasonable negotiation), within ten (10) business days after execution thereof.
No Products shall be delivered or transferred except upon receipt by OHL of complete written instructions, including, if applicable, full compliance with Section 23 of this Agreement. Written instructions shall include, but are not limited to, communication by Fax, EDI, Email or similar communication; provided, however that OHL shall have no liability when relying on the information contained in the communication received. Notwithstanding the foregoing, when no negotiable receipt is outstanding, Products may be delivered upon instruction by telephone in accordance with a prior written authorization, but OHL shall not be responsible for loss or error occasioned thereby.
Reporting Requirements. Furnish to the Agent for distribution to each Lender:
The Loan Parties will, at the expense of [[Organization A:Organization]], make, execute, endorse, acknowledge, authorize, file and/or deliver to the [[Organization B:Organization]] from time to time such vouchers, invoices, schedules, confirmatory collateral assignments, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, real property surveys, reports, assignments, and other documents, assurances or instruments and take such further steps relating to the Collateral covered by this Agreement or any of the Other Documents as the [[Organization B:Organization]] may reasonably require.
The Borrowers will grant to the Administrative Agent, for the benefit of the Secured Parties, security interests in such of its assets and properties as are not covered by the Collateral Documents in order that the Borrowers be in compliance with the Collateral Requirement. Such security interests shall # be granted pursuant to documentation reasonably satisfactory in form and substance to the Administrative Agent and # constitute valid and enforceable perfected security interests superior to and prior to the rights of all third Persons, and subject to no other Liens, except Liens permitted by Section 7.1. Such additional collateral documents and the other instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Administrative Agent required to be granted pursuant to such additional Collateral Documents and all taxes, fees and other charges payable in connection therewith shall have been paid in full.
Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.