Benefit of Article Sample Clauses

The 'Benefit of Article' clause defines who is entitled to receive the rights, privileges, or advantages provided by a specific article within a contract. Typically, this clause clarifies whether the benefits are limited to the parties directly involved in the agreement or if third parties may also claim them. For example, it may state that only the signatories to the contract can enforce its terms, thereby excluding external individuals or entities from deriving any benefit. The core function of this clause is to prevent unintended third-party claims and to ensure that only the intended parties can enforce or benefit from the contractual provisions.
Benefit of Article. The provisions of this Article 10 are solely for the benefit of the Administrative Agent and the Lenders. Except as otherwise expressly set forth in this Article 10, no Borrower shall have any rights under any of the provisions of this Article 10; it being understood that the provisions of this Article 10 are not in limitation of any right, remedy, power, duty, obligation or liability which the Administrative Agent would have to or against any Borrower.
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Benefit of Article. The provisions of this Article 10 are solely for the benefit of the Administrative Agent and the Lenders. Except as otherwise expressly set forth in this Article 10, no VSE Entity shall have any rights under any of the provisions of this Article 10; it being understood that the provisions of this Article 10 are not in limitation of any right, remedy, power, duty, obligation or liability which the Administrative Agent would have to or against any VSE Entity.
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Benefit of Article. 11. The agreements contained in this Article 11 are solely for the benefit of Agents and Banks, and are not for the benefit of, or to be relied upon by, Company, or any third party.
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Benefit of Article. The provisions contained in this Article are solely for the benefit of the Agent, the Issuing Bank, and the Banks and are not for the benefit of, nor may they be relied upon by, the Borrower, any Credit Party, or any third party.
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Benefit of Article. XI. The agreements contained in this Article XI are solely for the benefit of Agent and the Banks, and are not for the benefit of, or to be relied upon by, the Company, or any third party.
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Benefit of Article. The provisions of this Article 10 are solely for the benefit of the Administrative Agent and the Lenders. Except as otherwise expressly set forth in this Article 10, no ICF Entity shall have any rights under any of the provisions of this Article 10; it being understood that the provisions of this Article 10 are not in limitation of any right, remedy, power, duty, obligation or liability which the Administrative Agent would have to or against any ICF Entity.
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Benefit of Article. 60 ARTICLE 11
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Benefit of Article. The provisions of this Article X are solely for the benefit of the Lenders and the Agent. The Borrowers shall not have any rights under any of the provisions of this Article X; it being understood that the provisions of this Article X are not in limitation of any right, power, duty, obligation or liability which the Agent would have to or against the Borrowers or the Borrowers would have to or against the Agent other than in its capacity as Agent hereunder.
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Related to Benefit of Article

  • Applicability of Article Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for such Securities) in accordance with this Article.

  • Application of Article This Article is intended only as a basis of calculating overtime payments, and nothing in this Agreement shall be construed as a guarantee of hours of work per day, week, tour of duty, work period or year.

  • Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance If, pursuant to Section 3.1, provision is made for either or both of (a) Defeasance of the Securities of a series under Section 13.2 or (b) Covenant Defeasance of the Securities of a series under Section 13.3, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIII, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution or in any other manner specified as contemplated by Section 3.1, at any time, with respect to the Securities of such series, elect to have either Section 13.2 (if applicable) or Section 13.3 (if applicable) be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIII.

  • Titles of Articles, Sections and Subsections All titles or headings to articles, sections, subsections or other divisions of this Agreement and the other Loan Documents or the exhibits hereto and thereto are only for the convenience of the parties and shall not be construed to have any effect or meaning with respect to the other content of such articles, sections, subsections or other divisions, such other content being controlling as to the agreement between the parties hereto.

  • Applicability of This Article Redemption of Securities of any series (whether by operation of a sinking fund or otherwise) as permitted or required by any form of Security issued pursuant to this Indenture shall be made in accordance with such form of Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any provision of this Article, the provision of such form of Security shall govern.