Overriding Right Clause Samples

An Overriding Right clause establishes a party’s ability to supersede or take precedence over other rights or provisions within an agreement. In practice, this means that if there is a conflict between the Overriding Right and any other clause, the Overriding Right will prevail, ensuring that the party holding this right can enforce its terms regardless of other contractual language. This clause is commonly used to protect critical interests or obligations, providing certainty and prioritization in situations where multiple rights might otherwise compete or create ambiguity.
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Overriding Right. Notwithstanding anything to the contrary, the Company reserves the right, without giving any notice or reason, to suspend or terminate at any time the Agreement and all or any of its services (including the Accounts). The Company may also be required to do so at the request of a regulatory or other authority.
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Overriding Right. Notwithstanding the above, the Facility may be suspended, reviewed and/or recalled at the sole discretion of us and in such event of recalling unless otherwise arranged, all the outstanding loan amount and interest shall become immediately due and payable on demand.
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Overriding Right notwithstanding any other provisions in this Appendix II, the Company has the overriding right at any time to demand immediate repayment of any outstanding amount of any IPO Loan and to cancel any IPO Loan.
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Overriding Right notwithstanding any other provisions in this Schedule VI, TCSCL has the overriding right at any time to demand immediate repayment of any outstanding amount of any IPO Loan and to cancel any IPO Loan.
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Overriding Right. Notwithstanding any provisions contained in this Agreement to the contrary, the Bank shall have an overriding right at any time to require the Client's immediate repayment on demand of all his indebtedness, liabilities and outstanding amounts whether actual or contingent (together with interest and default interest, if any) owing to the Bank, and/or to require cash collateralization of all or any sums actually owing or contingently owing to the Bank and the Client shall immediately deposit such monies, Securities or otherwise and maintain such Securities with the Bank to the Bank's satisfaction. The Client further acknowledges that the Bank may at any time require him to deposit sufficient cleared funds in the account before carrying out any Transaction in respect of any Securities on his behalf.
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Overriding Right notwithstanding any other provisions in this Appendix II, the Company has the overriding right at any time to demand immediate repayment of any outstanding amount of any Application Loan and to cancel any Application Loan.
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Related to Overriding Right

  • Overriding Provisions (a) Any Transfer in violation of this Article X shall be null and void ab initio, and the provisions of Sections 10.05 and 10.06 shall not apply to any such Transfers. For the avoidance of doubt, any Person to whom a Transfer is made or attempted in violation of this Article X shall not become a Member, shall not be entitled to vote on any matters coming before the Members and shall not have any other rights in or with respect to any rights of a Member of the Company. The approval of any Transfer in any one or more instances shall not limit or waive the requirement for such approval in any other or future instance. The Manager shall promptly amend the Schedule of Members to reflect any Permitted Transfer pursuant to this Article X. (b) Notwithstanding anything contained herein to the contrary (including, for the avoidance of doubt, the provisions of Section 10.01 and Article XI and Article XII), in no event shall any Member Transfer any Units to the extent such Transfer could, in the reasonable determination of the Manager: (i) result in a violation of the Securities Act, or any other applicable federal, state or foreign Laws; (ii) cause an assignment under the Investment Company Act; (iii) be a violation of or a default (or an event that, with notice or the lapse of time or both, would constitute a default) under, or result in an acceleration of any indebtedness under, any promissory note, mortgage, loan agreement, indenture or similar instrument or agreement to which the Company or the Manager is a party; provided that the payee or creditor to whom the Company or the Manager owes such obligation is not an Affiliate of the Company or the Manager; (iv) cause the Company to lose its status as a partnership for federal income tax purposes or, without limiting the generality of the foregoing, such Transfer was effected on or through an “established securities market” or a “secondary market or the substantial equivalent thereof,” as such terms are used in Section 1.7704-1 of the Treasury Regulations; (v) be a Transfer to a Person who is not legally competent or who has not achieved his or her majority under applicable Law (excluding trusts for the benefit of minors); (vi) cause the Company or any Member or the Manager to be treated as a fiduciary under the Employee Retirement Income Security Act of 1974, as amended; (vii) cause the Company (as determined by the Manager in its sole discretion) to be treated as a “publicly traded partnership” or to be taxed as a corporation pursuant to Section 7704 of the Code or successor provision of the Code; or (viii) result in the Company having more than one hundred (100) “partners”, within the meaning of Treasury Regulations Section 1.7704-1(h)(1) (determined pursuant to the rules of Treasury Regulations Section 1.7704-1(h)(3)) in any Taxable Year that is not a Restricted Taxable Year.

  • Bumping Rights An employee laid off from his/her present class may bump only into the next equal or lower class in which the employee has greater seniority. The employee may continue to bump into such equal or lower classes to avoid layoff.