No Amounts Due Sample Clauses
The "No Amounts Due" clause establishes that, as of a certain date or event, neither party owes any outstanding payments or obligations to the other under the agreement. In practice, this clause is often included at the conclusion of a contract or upon termination to confirm that all financial responsibilities, such as fees, reimbursements, or other amounts, have been settled. Its core function is to provide certainty and closure by ensuring that neither party can later claim additional amounts are owed, thereby preventing future disputes over unsettled payments.
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No Amounts Due. No amounts are due to or in respect of any former officer or employee or consultant and there are no outstanding arrears of salary, wages, fees, holiday pay or other remuneration.
No Amounts Due. The Officer acknowledges that no payments or benefits whatsoever shall become due hereunder in the absence of a Change of Control.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Trans Maldivian Airways Private Limited ("TMA") out of non-refundable reserve payments for maintenance performed by TMA of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.
No Amounts Due. The Company shall use its best efforts to cause the Applicable Timeshare Owners' Association to deliver a statement to SPV and TFC at the end of each calendar year, commencing in the present calendar year and continuing throughout the term of the transactions contemplated hereunder, indicating that no amounts are due and payable to the Applicable Timeshare Owners' Association from the Company, the Subject Persons or any Affiliate of the Company and that all taxes and insurance premiums payable by the Applicable Timeshare Owners' Association (or Silverleaf Club on behalf of the Applicable Timeshare Owners' Association) have been paid when due. The Company hereby represents and warrants that as of the Closing Date, no amounts are due and payable to the Applicable Timeshare Owners' Association from the Company, the Subject Persons, or any Affiliate of the Company. The Company agrees to submit annually to SPV and TFC, within thirty (30) days after it is available, the proposed annual maintenance and operating budget of the Silverleaf Club (and, if any Applicable Timeshare Owners' Association establishes an annual maintenance and operating budget, such Applicable Timeshare Owners' Association) certified by such Person's manager.
No Amounts Due. The Executive acknowledges that no payments or benefits whatsoever shall become due hereunder in the absence of a Change of Control.
No Amounts Due. There are no amounts owed by Assignor to any party under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Merlin Airways ("MA") out of non-refundable reserve payments for maintenance performed by MA of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.
No Amounts Due. Executive acknowledges that other than reimbursement for some travel, lodging, and other normal business expenses recently incurred in accordance with Company policies and practices, there are no sums due and owing him from the Company.
No Amounts Due. Borrower shall deliver a statement to Lender at the end of each calendar year, commencing in the present calendar year and continuing throughout the Term of the Loan, indicating any amounts due and payable to Borrower from the Guarantor or any Affiliate of Borrower and further indicating that all taxes and insurance premiums payable by the Borrower have been paid when due. Borrower hereby covenants that, as of the date of this Agreement, except as set forth on the financial statements heretofore delivered by Borrower to Lender, no amounts are due and payable to the Borrower from the Guarantor or any Affiliate of Borrower. Borrower agrees to submit annually to Lender, within thirty (30) days after it is available, the proposed annual maintenance and operating budget of each of the Resorts, certified by the manager thereof.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Loganair Limited ("Loganair") out of non-refundable reserve payments for maintenance performed by Loganair of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.