NSI Act Sample Clauses

The NSI Act clause establishes the requirement for compliance with the National Security and Investment Act 2021, which governs the review of certain transactions for national security risks in the UK. In practice, this clause typically obligates parties to notify relevant authorities if a transaction falls within the scope of the Act, such as acquisitions of control over entities in sensitive sectors. Its core function is to ensure that transactions do not proceed without necessary government approval, thereby mitigating national security risks associated with changes in ownership or control.
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NSI Act. No Obligor may make a notifiable acquisition for the purposes of the NSI Act, or enter into any other transaction that could reasonably be expected to be subject to review under the NSI Act, unless the Secretary of State has approved that notifiable acquisition or other transaction (as the case may be) in accordance with the NSI Act by giving notice that no further action will be taken under the NSI Act in relation to it.
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NSI Act. In the event that ▇▇▇▇▇, acting reasonably and in good faith, is satisfied that the Acquisition is a notifiable acquisition within the meaning of section 6 of the NSI Act and, having made a notification as regards the Acquisition to the Secretary of State, the Secretary of State having notified Bidco:
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NSI Act. The acquisition of the Initial ADSs does not constitute a notifiable acquisition for the purposes of section 6(2) of the National Security and Investment Act of 2021.
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NSI Act. (a) None of the Acquired Companies, Purchased Equity or Purchased Assets undertakes or consists of any activities in the UK that are specified in Schedules 1 to 17 to the National Security and Investment ▇▇▇ ▇▇▇▇ (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021 (SI 2021/1264) (NAR 2021). (b) None of the Acquired Companies, Purchased Equity or Purchased Assets completed a transaction that has taken place on or after 12 November 2020 or is currently in progress, and which constitutes a trigger event within the meaning of section 5 of the NSI Act. (c) No Contract for pecuniary interest between one or more persons and the UK government (i.e., a “contracting authority” as outlined in regulation 2 of the Public Contracts Regulations 2015(a)) where the Contract has as its object the execution of works, the supply of products or the provision of services included in the Assigned Contracts or to which any of the Acquired Companies is a party includes a requirement: (i) to have either or both the processing or storage of material to which a security classification of SECRET or TOP SECRET has been applied in accordance with the document titled “Government Security Classifications Version 1.1 – May 2018”(b) published by the Cabinet Office; (ii) to have a “List X Accreditation” as described in the document titled “Security Requirements for List X Contractors Version 10.0 – April 2014” published by the Cabinet Office; or (iii) for employees of the qualifying entity to be vetted at or above ‘Security Check’ level as described in guidance titled “National security: vetting clearance levels” published on 12 February 2020(d) by the United Kingdom Security Vetting.
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NSI Act. If and to the extent that the NSI Act comes into force prior to the Share Exchange Closing and the ISU indicates, in response to the consultation provided for by Clause 8.9(e), that the Share Exchange or any of the other Transactions would or could potentially constitute a notifiable acquisition under the NSI Act, (A) the Secretary of State confirming that no further action will be taken in relation to the Share Exchange and the other Transactions under the NSI Act, or (B) if the Secretary of State issues a call-in notice under the NSI Act in relation to the Share Exchange or any of the other Transactions (a “Call-In Notice”): (i) the Parties receiving a final notification that no further action in relation to the Call-In Notice is to be taken under the NSI Act; or (ii) the Secretary of State making a final order in relation to the Share Exchange and the other Transactions under the NSI Act which permits the Share Exchange and the other Transactions to be completed subject to the provisions of such final order, and, to the extent relevant, all conditions, provisions or obligations contained in such final order necessary for completion of the Share Exchange and the other Transactions having been satisfied or complied with.
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Related to NSI Act

  • ▇▇▇▇▇ Act Subrecipient agrees that no funds provided, nor personnel employed under this Contract, shall be in any way or to any extent engaged in the conduct of political activities in violation of the Hatch Act, 5 U.S.C. Section 1501 et seq. and Chapter 15 of Title V of the U.S.C.

  • ▇▇▇▇▇▇ Act Any provisions required to be contained in this Agreement by Section 126 and/or Section 130-k or Article 4-A of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition to those conferred or imposed by this Agreement; provided, however, that to the extent that such Section 126 and/or 130-k shall not have any effect, and if said Section 126 and/or Section 130-k should at any time be repealed or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, said Section 126 and/or Section 130-k shall cease to have any further effect upon the provisions of this Agreement. In a case of a conflict between the provisions of this Agreement and any mandatory provisions of Article 4-A of the New York Real Property Law, such mandatory provisions of said Article 4-A shall prevail, provided that if said Article 4-A shall not apply to this Agreement, should at any time be repealed, or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, such mandatory provisions of such Article 4-A shall cease to have any further effect upon the provisions of this Agreement.

  • ▇▇▇▇▇-▇▇▇▇▇ Act Contractor agrees to comply with all applicable provisions of 40 USC § 3141 – 3148.

  • S▇▇▇▇▇▇▇-▇▇▇▇▇ Act There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules and regulations promulgated in connection therewith (the “S▇▇▇▇▇▇▇-▇▇▇▇▇ Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

  • Competition Act Neither the aggregate value of the assets in Canada of ▇▇▇▇▇▇▇▇▇ and any corporations that it controls, nor the aggregate gross revenues from sales in or from Canada generated from those assets, as determined in accordance with subsection 110(3) of the Competition Act exceed $80,000,000.