Common use of Notwithstanding Clause 4 Clause in Contracts

Notwithstanding Clause 4. 1, JPC and HSN agree that in so far as they may have the right to approve a Business Plan pursuant to Clause 8.1(a) neither of them will withhold their consent to the funding requirements in such Business Plan where they are for amounts (in aggregate or otherwise) up to and including those set out in the Initial Business Plan and JPC and HSN confirm that they are obligated to provide funding in proportion to their prevailing shareholding ratios for amounts (in aggregate or otherwise) up to and including those set out in the Initial Business Plan irrespective of when funding is required.

Appears in 2 contracts

Sources: Shareholder Agreement (Home Shopping Network Inc), Shareholder Agreement (HSN Inc)