Divestment Certificate Sample Clauses

A Divestment Certificate clause requires a party to formally confirm that it has disposed of certain assets, shares, or interests as stipulated in an agreement. Typically, this involves providing written evidence or certification to the other party, verifying that the divestment has been completed in accordance with the contract's terms. This clause ensures transparency and accountability in transactions where divestment is a condition, helping to prevent disputes about whether required disposals have actually occurred.
Divestment Certificate. (a.) On the Termination Date or the date of expiry of the Concession, the Authority shall verify, in the presence of the Concessionaire or of a representative of the Concessionaire, compliance by the Concessionaire with the requirements of this Agreement, as the case may be. In the event the Authority notifies the Concessionaire of shortcomings, if any, in the Concessionaire’s compliance with such requirements, the Concessionaire shall forthwith cure the same. (b.) Upon Termination (due to Force Majeure Event or Event of Default) or expiry of the Term by efflux of time, the divestment by the Concessionaire of all rights, title and interest in the Project and the Project Assets and the Project Facilities shall be deemed to be complete on the Termination Date or the date of expiry of the Concession, as the case may be, but no later than 30 (thirty) days thereafter, by when all the requirements of this Agreement shall be fulfilled. The Authority shall upon fulfilment of the requirements of this Agreement issue a certificate (the “Divestment Certificate”), with a copy thereof endorsed to the other PLBs, which shall have the effect of constituting evidence of divestment by the Concessionaire of all of its rights, title and interest in the Project and the Project Assets and the Project Facilities and the vesting thereof in the PLBs pursuant hereto.
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Divestment Certificate. 15.4.1 On the Termination Date the Lead Authority shall verify, in the presence of the Concessionaire or of a representative of the Concessionaire, compliance by the Concessionaire with the requirements of this Agreement, as the case may be. In the event Authority notifies the Concessionaire of shortcomings, if any, in the Concessionaire’s compliance with such requirements, the Concessionaire shall forthwith cure the same. 15.4.2 Upon Termination (due to Force Majeure Event or Event of Default or expiry of the Term by efflux of time), the divestment by the Concessionaire of all rights, title and interest in the Project and the Project Assets and the Project Facilities shall be deemed to be complete on the Termination Date but no later than 30 (thirty) days thereafter, by when all the requirements of this Agreement shall be fulfilled. The Lead Authority shall upon fulfilment of the requirements of this Agreement issue a certificate (the “Divestment Certificate”), with a copy thereof endorsed to the other Authority, which shall have the effect of constituting evidence of divestment by the Concessionaire of all of its rights, title and interest in the Project and the Project Assets and the Project Facilities and the vesting thereof in the Authority pursuant hereto.
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Divestment Certificate a. On the Termination Date the Project Engineer shall verify, in the presence of the Concessionaire or of a representative of the Concessionaire, compliance by the Concessionaire with the requirements of Article 10.2 to 10.4 above, as the case may be. In the event the Project Engineer notifies the Concessionaire of shortcomings, if any, in the Concessionaire’s compliance with such requirements, the Concessionaire shall forthwith cure the same. b. Upon Termination (due to Force Majeure Event or Event of Default or expiry of the Concession Period by efflux of time), the divestment by the Concessionaire of all rights, title and interest in the Project, Project Assets and the Project Facilities shall be deemed to be complete on the Termination Date but no later than 30 (thirty) days thereafter, by when all the requirements of Articles 10.2 to 10.4 shall be fulfilled. The Concessioning Authority shall upon fulfillment of the requirements of Articles
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Related to Divestment Certificate

  • Prepayment Certificate Concurrently with any prepayment of the Loans pursuant to Sections 2.14(a) through 2.14(e), Borrower shall deliver to Administrative Agent a certificate of an Authorized Officer demonstrating the calculation of the amount of the applicable net proceeds or Consolidated Excess Cash Flow, as the case may be. In the event that Borrower shall subsequently determine that the actual amount received exceeded the amount set forth in such certificate, Borrower shall promptly make an additional prepayment of the Loans in an amount equal to such excess, and Borrower shall concurrently therewith deliver to Administrative Agent a certificate of an Authorized Officer demonstrating the derivation of such excess.

  • Replacement Certificates If, on the date a Securityholder’s escrow securities are to be released, the Escrow Agent holds a share certificate or other evidence representing more escrow securities than are to be released, the Escrow Agent will deliver the share certificate or other evidence to the Issuer or its transfer agent and request replacement share certificates or other evidence. The Issuer will cause replacement share certificates or other evidence to be prepared and delivered to the Escrow Agent. After the Escrow Agent receives the replacement share certificates or other evidence, the Escrow Agent will send to the Securityholder or at the Securityholder’s direction, the replacement share certificate or other evidence of the escrow securities released. The Escrow Agent and Issuer will act as soon as reasonably practicable.

  • Independent Certificate A certificate or opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 of the Indenture, made by an Independent appraiser or other expert appointed by an Issuer Order and approved by the Indenture Trustee in the exercise of reasonable care, and stating that the signer has read the definition of “Independent” in the Indenture and that the signer is Independent within the meaning thereof.

  • Exhibit D - Debarment Certification By signing and submitting this Contract, the Contractor is agreeing to abide by the debarment requirements as set out below.

  • Lost Certificate Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.