Joint Interest Clause Samples

The Joint Interest clause defines how two or more parties share rights, responsibilities, and benefits in a common project or asset, such as an oil and gas lease or a real estate venture. It typically outlines each party’s percentage of ownership, their obligations for costs and expenses, and the procedures for making joint decisions or resolving disputes. By clearly allocating interests and duties, this clause ensures transparency and helps prevent conflicts over management, profits, and liabilities.
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Joint Interest. 20.1 SDG&E and Seller believe it to be in their joint interest that the Program achieve a high degree of success and reach the maximum possible number of customers. Accordingly, SDG&E and Seller intend that, during the term of the Agreement, SDG&E shall, subject to all applicable regulatory requirements which may exist during the term of this Agreement, use its reasonable commercial efforts to affirmatively promote, support, and work with Seller to offer and provide to the customers of SDG&E in SDG&E’s service territory the electrical load control services described in this Agreement.
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Joint Interest. To the extent any information or documentation exchanged by the Parties with respect to the enforcement or prosecution of Patents or Technology Rights reflects privileged or work product information, the Parties acknowledge such information may be protected from disclosure to any Person by the joint defense privilege, the common interest doctrine, the attorney-client privilege, the work product doctrine or other applicable privilege, right, immunity, doctrine or protection from disclosure (collectively, “Common Interest Information”). The sharing and exchange of any such Common Interest Information between or among the Parties and/or their respective counsel pursuant to the terms of this Agreement will not constitute a waiver of any such privilege, immunity, doctrine or protection attaching thereto, and to the contrary all such privileges, immunities, doctrines and protections will be preserved, maintained and invoked to the fullest possible extent.
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Joint Interest. If several persons are jointly liable for the same loss, the Insurance shall only cover the share of the loss that corresponds to the degree of blame attached on the
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Joint Interest. In the event that The Regents and the Licensee each own an undivided interest in any Technology Rights licensed hereunder, the Licensee will not separately grant a license to any third party under its rights without concurrently granting a license under The Regents’ rights on the terms and conditions described in this Article 3 (Sublicenses). NE Comm Lic UCSF Surrozen SF16-193 Page 6 of SECTIONPAGES \* MERGEFORMAT 24
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Joint Interest. It is expressly acknowledged that the members of the Trust Advisory Board and the Trustee share a joint interest in the prosecution of the Causes of Action and the Avoidance Actions and entry into an agreement to share information based on such joint interest will be deemed sufficient to preserve and protect privileges.
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Related to Joint Interest

  • Interim Interest If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

  • Periodic Interest Periodic Interest will be payable on each Tranche of the Recovery Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Recovery Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Recovery Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Recovery Bonds on such preceding Payment Date; provided, however, that with respect to the Initial Payment Date, or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

  • Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

  • Contingent Interest Contingent Interest shall accrue on the unpaid principal amount hereof on and after the Initial Operating Date. Contingent Interest shall be calculated to accrue (each an "Accrual Period") as follows: (i) in the case of the First Accrual Period, from, and including, the Initial Operating Date to, and including: a) the end of the First Accrual Period if the principal amount of this Note has not become due and payable; or b) the date of payment if the principal amount of this Note has become due and payable, whether at stated maturity, upon acceleration, upon any mandatory or optional redemption or otherwise; (ii) in the case of each Semiannual Period following the First Accrual Period from, but excluding, the end of the First Accrual Period or the end of the immediately preceding Semiannual Period, as applicable, to, and including, the end of each such Semiannual Period if the principal amount of this Note has not become due and payable during such period; and (iii) in the case of any Interim Period following the First Accrual Period from, but excluding, the end of the First Accrual Period or most recent Semiannual Period, as applicable, to, and including, the date of payment if the principal amount of this Note has become due and payable, whether at stated maturity, upon acceleration, upon any mandatory or optional redemption or otherwise. On each Interest Payment Date after the First Accrual Period, Contingent Interest with respect to the Accrual Period completed immediately prior to that Interest Payment Date shall be in cash; provided, however, that, except as set forth in Section 3.02 hereof, Contingent Interest shall be deferred and shall not be paid unless and until the Authority has satisfied the Release Condition on such Interest Payment Date; provided, however, that the Authority shall not make any payments on an Interest Payment Date unless all amounts due and payable with respect to the Senior Notes on such Interest Payment Date and all prior Interest Payment Dates have been paid in full in cash. If, on any Interest Payment Date after the First Accrual Period, the Authority has not satisfied the Release Conditions, the Contingent Interest which otherwise would have been payable on such Interest Payment Date shall be deferred and shall earn interest on such deferred amount from the date of such deferral to the date such Contingent Interest is paid, at an interest rate of 1.0% per annum. Contingent Interest shall be computed on the basis of a 360-day year of twelve 30-day months. If the Release Condition has been met on any Interest Payment Date, the Authority shall pay, in addition to the Contingent Interest otherwise payable on such Interest Payment Date, all deferred Contingent Interest (together with interest on such Contingent Interest as provided in this Note); provided, however, that to the extent any amounts loaned from the Contingent Interest Account to the Manager under the Management Fees Note (as defined in the Cash Accumulation Account and Contribution Agreement) are outstanding, such deferred Contingent Interest amounts shall continue to be deferred and shall not be payable until such time the Management Fees Note is repaid in full. If any amounts remain outstanding under the Management Fees Note on the maturity date of this Note, the corresponding amount of Contingent Interest will be cancelled.

  • Default Rate Interest In the event that the Corporation does not make timely payment of all or any portion of a Tax Benefit Payment to a Member on or before the Final Payment Date as determined pursuant to Section 3.1(a), the amount of “Default Rate Interest” calculated in respect of the Net Tax Benefit (including previously accrued Imputed Interest and Extension Rate Interest) for a Taxable Year will equal interest calculated at the Default Rate from the Final Payment Date for a Tax Benefit Payment as determined pursuant to Section 3.1(a) until the date on which the Corporation makes such Tax Benefit Payment to such Member. For the avoidance of doubt, the amount of any Default Rate Interest as determined with respect to any Net Tax Benefit payable by the Corporation to a Member shall be included in the Hypothetical Tax Liability of the Corporation for purposes of calculating Realized Tax Benefits and Realized Tax Detriments pursuant to this Agreement.