Clause 19 Sample Clauses

Clause 19. 6.1 shall not apply to: (a) any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed either (a) within 10 (ten) days of commencement or, if earlier, the date on which it is advertised or (b) within such other period as agreed to in writing by the Lender on or before the lapse of the 10 (ten) day period referred to in (a) provided, for the avoidance of doubt, the Lender is not obliged to agree to any such extended period; (b) any step or procedure contemplated by paragraph (b) of the definition of Permitted Transaction in the Senior Facilities Agreement; or (c) any enforcement of any Security over any assets of the Borrower or any member of the Borrower Group as contemplated by clause 19.6.1(d) above, if the relevant Obligor or any member of the Borrower Group, as applicable, takes steps to oppose such legal proceedings within the time frames allowed by the Rules of Court and before any final order is granted and provides evidence to the reasonable satisfaction of the Lender that its opposition of such enforcement proceedings has merit.

Clause 19. 7.1 shall not apply if the fair value of the relevant asset or assets is, in relation to Opco, ZAR5,000,000 (Indexed) or less, or in relation to Holdco or the Borrower, ZAR1,000,000 (Indexed) or less.

Clause 19. 2 shall not apply to any press release, public announcement or other communication with the news media made by the Purchaser which is consistent with the Announcement and the terms of this Agreement and does not contain any further information relating to the Company Group to that which has been previously announced or made public in accordance with the terms of this Agreement.

Clause 19. 4.1 does not apply to the service of any proceedings or other documents in any legal action or, where applicable, any arbitration or other method of dispute resolution.

Clause 19. 5 Cross default of the Loan Agreement shall be amended and restated in its entirety to read:

Clause 19. 14.4 shall not apply if and to the extent that the amount of the indemnity, compensation or reimbursement payment has already been adjusted to take account of the Taxation that will or would be charged on receipt or relief that is or will be available in respect of the matter giving rise to the payment.

Clause 19. The Ship Management Agreement shall be governed by Norwegian Law and the parties accept Haugesund City Court as proper legal venue for for the settlement of any controversy or dispute that may araise in connection with, or as a result of this contract that cannot be resolved by mutual agreement between the parties hereto. This Addendum No. 1 (this “Addendum”) to the Ship Management Agreement (the “Agreement”), dated June 27, 2011, between ▇▇▇▇▇▇▇ Shuttle Tankers 15 AS, a Norwegian private limited liability company (the “Owners”), and ▇▇▇▇▇▇▇ OAS Shipping AS, a Norwegian private limited liability company (the “Prior Managers”), is made as of June 30, 2014, between the Owners, the Prior Managers and KNOT Management AS, a Norwegian private limited liability company (the “Managers”).

Clause 19. 1 applies regardless of whether the Vehicle is driven by the Driver employed by the Company without limitation or any other driver.

Clause 19. The Ship Management Agreement shall be governed by Norwegian Law and the parties accept Haugesund City Court as proper legal venue for for the settlement of any controversy or dispute that may araise in connection with, or as a result of this contract that cannot be resolved by mutual agreement between the parties hereto.