OBLIGATIONS OF PARTIES UPON EXECUTION OF AGREEMENT Clause Samples

OBLIGATIONS OF PARTIES UPON EXECUTION OF AGREEMENT. 2.1 Notwithstanding that this Agreement is executed on the day and year first above written the obligations of the Parties under this Agreement shall take effect as from the Effective Date. 2.2 PTSMS undertakes to take all necessary steps to procure that the following approvals are obtained within twelve (12) months of the Effective Date on such terms and conditions (if any) as may be acceptable to the Parties :- 2.2.1 the approval of the BKPM for :- i) the investment of each of the Parties in the Company for the conduct of the Business Operations; and ii) the change in status of the Company from an existing limited liability company to a joint venture (PMA) company; 2.2.2 all other approvals and licences from the Bank Indonesia or the Financial Services Authority/ Otoritas Jasa Kewangan (▇▇▇) and/or any other relevant statutory or regulatory body, authority or government department as may be necessary to operate the Company and to conduct the Business Operations; 2.2.3 the approval of the MOJ :- i) to the Articles of Association; and ii) for the formation of the Company under the name "P.T. Mobisaria" (or such other name as may be approved by the MOJ and which is acceptable to the Parties); 2.2.4 the approval (if any required) of the relevant statutory or regulatory body, authority or government department to take over any other e-Wallet or business licenses on a national scale, if necessary; and 2.3 The Parties undertake to provide all assistance or information necessary in connection with the submission of the formal application "Model I / PMA" to the BKPM. 2.4 Each of the Parties hereby undertakes duly and diligently to take all necessary steps within its control, including but not limited to the application for all necessary or desirable Indonesian Government approvals required to operate the Company as may be required by any law or regulations presently in force or by the terms of this Agreement. The Parties shall cooperate in furnishing all information needed for such approvals and coordinate all applications made hereunder. 2.5 The Articles of Association shall be submitted by PTSMS to the MOJ for approval as soon as possible upon receipt of the SPPP in relation to the matters in Section 2.2.1 above. 2.6 Upon obtaining such approval from the MOJ, the Parties shall procure that the Articles of Association are adopted by the Company. 2.7 No alterations or amendments shall be made to the Articles of Association of the Company except in accordance with...
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OBLIGATIONS OF PARTIES UPON EXECUTION OF AGREEMENT. 2.1 Notwithstanding that this Agreement is executed on the day and year first above written the obligations of the Parties under this Agreement shall take effect as from the Effective Date. 2.2 All Parties hereby agree to extend the original date for which PTSMS will procure that the following approvals to February 28, 2020 which is twelve (12) months from the Effective Date herein upon similar terms and conditions (if any) as in the Main JV Agreement as may be acceptable to the Parties, namely:- 2.2.1 the approval of the BKPM for :- i) the investment of each of the Parties in the Company for the conduct of the Business Operations; and ii) the type of business of the Company for the joint venture (PMA) company; 2.2.2 all other approvals and licences from the Bank Indonesia or the Financial Services Authority/ Otoritas Jasa Kewangan (▇▇▇) including a Fintech e-Wallet license, P2P license, online Micro Finance licenses, as the case may be, and/or any other relevant statutory or regulatory body, authority or government department as may be necessary to operate the Company and to conduct the Business Operations; 2.3 PTSMS shall appoint one person as a new director of OREB and OREB shall appoint one person to be the new Commissioner of PTSMS.
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Related to OBLIGATIONS OF PARTIES UPON EXECUTION OF AGREEMENT

  • Amendment or Termination of Agreement This Agreement may be changed or terminated only upon the mutual written consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company after such change or termination has been approved by the Board.

  • Amendment and Termination of Agreement (a) We may amend any provision of this Agreement by giving you written notice of the amendment. Either party to this Agreement may terminate the Agreement without cause by giving the other party at least thirty (30) days' written notice of its intention to terminate. This Agreement will terminate automatically in the event of its assignment (as defined in the 1940 Act). (b) In the event that (i) an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970 is filed against you; (ii) you file a petition in bankruptcy or a petition seeking similar relief under any bankruptcy, insolvency, or similar law, or a proceeding is commenced against you seeking such relief; or (iii) you are found by the SEC, the NASD, or any other federal or state regulatory agency or authority to have violated any applicable federal or state law, rule or regulation arising out of your activities as a broker/dealer or in connection with this Agreement, this Agreement will terminate effective immediately upon our giving notice of termination to you. You agree to notify us promptly and to immediately suspend sales of Portfolio shares in the event of any such filing or violation, or in the event that you cease to be a member in good standing of the NASD. (c) Your or our failure to terminate this Agreement for a particular cause will not constitute a waiver of the right to terminate this Agreement at a later date for the same or another cause. The termination of this Agreement with respect to any one Portfolio will not cause its termination with respect to any other Portfolio. 11.

  • TERM, MODIFICATION AND TERMINATION OF AGREEMENT This Agreement with respect to the Fund shall continue in effect until the expiration date set forth on Schedule A (the “Expiration Date”). With regard to the Operating Expense Limits, the Trust’s Board of Trustees and the Adviser may terminate or modify this Agreement prior to the Expiration Date only by mutual written consent. This Agreement shall terminate automatically upon the termination of the Advisory Agreement; provided, however, that the obligation of the Trust to reimburse the Adviser with respect to a Fund shall survive the termination of this Agreement unless the Trust and the Adviser agree otherwise.

  • Execution of Agreement The HSP represents and warrants that: (a) it has the full power and authority to enter into this Agreement; and (b) it has taken all necessary actions to authorize the execution of this Agreement.

  • Entire Agreement; Amendment; Severability; Waiver This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed by such party. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power, or privilege hereunder.