Application of Cypress Permit Clause Samples

Application of Cypress Permit. Notwithstanding anything else contained herein, Tenant covenants and agrees in favour of the Landlord that: (a) it shall assume, observe, perform and be bound by all of the terms, covenants, conditions, agreements and obligations of the Landlord, as assignee of the VANOC Agreement and as Permittee under the terms of the Cypress Permit, from time to time, including without limitation the payment of all permit fees under the Cypress Permit. (b) it shall not do or neglect to do any act or thing which would bring about any breach of any of the provisions of the Cypress Permit and/or the VANOC Agreement at any time; (c) it shall comply with the Permitted Encumbrances and all encumbrances in connection with the Cypress Premises and the Leased Property; (d) all services, utilities, repairs (structural or otherwise), replacements, rebuilding, maintenance, restorations, parking facilities, equipment, security services and access to and from the Cypress Premises and the Leased Property and any insurance coverage and any other obligations of the Province under the Cypress Permit, if any, deriving from the provisions of the Cypress Permit will in fact be provided by the Province pursuant to the Cypress Permit or VANOC pursuant to the VANOC Agreement and Landlord shall have no obligation during the Term or ever to provide any such services, utilities, repairs (structural or otherwise), replacements, rebuilding, maintenance, restorations, parking facilities, equipment, security services, insurance or access and/or to perform such other obligations to the Tenant. Tenant covenants and agrees to look solely to the Province or VANOC for the furnishing of such services, utilities, repairs (structural or otherwise), replacements, rebuilding, maintenance, restorations, parking facilities, equipment, security services, insurance, access and/or the performance of such other obligations that are to be provided by the Province under the Cypress Permit. If the Province or VANOC shall default in any of its material obligations to the Landlord with respect to the Cypress Premises and/or the Leased Property, the Landlord at Landlord’s option and expense may seek to enforce the Landlord’s rights, or the Tenant on behalf of Landlord and at the sole cost, risk and expense of Tenant, may attempt to enforce Landlord’s rights against the Province or VANOC. In the event that Tenant shall seek on behalf of Landlord to enforce the Permit or the VANOC Agreement, any settlement of such action sh...
View SourceView Similar (3)

Related to Application of Cypress Permit

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Secured Party as set forth in Section 7.06 of the Credit Agreement.

  • Application of Net Proceeds The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Application of other Rules If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to the present Agreement contain rules, whether general or specific, entitling investments by investors of the other Contracting Party to a treatment more favourable than is provided for by the present Agreement, such rules shall to the extent that they are more favourable prevail over the present Agreement.

  • Application of other Provisions If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to the present Agreement contain a regulation, whether general or specific, entitling investments by nationals of the other Contracting Party to a treatment more favourable than is provided for by the present Agreement, such regulation shall to the extent that it is more favourable prevail over the present Agreement.

  • Application of Collections All collections for the Collection Period shall be applied by the Servicer as follows: (a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method. (b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).