PARAGRAPH FOUR Clause Samples

PARAGRAPH FOUR. The institutions undertake to inform students who are interested in international mobility that, upon arriving at the host institution, they shall subject to its rules, especially those regarding the educational and teaching system, rules of conduct and penalties.

PARAGRAPH FOUR. In the event of a claim, the CREDITOR may use the indemnity received to pay, in whole or in part, the debt guaranteed by the damaged asset or other overdue debts of the CUSTOMER, or authorize its use for the repair, reconstruction or replacement of the said asset.

PARAGRAPH FOUR. The methodology referred to in Paragraph Two does not apply to operations in shortage of principal, for which the BNDES may arbitrate the non-receipt and alternative costs.

PARAGRAPH FOUR. Failure to comply with item IV of this Clause shall be deemed to be characterized in the following cases:

PARAGRAPH FOUR. Non-compliance with ▇▇▇▇▇▇ ▇▇▇ of this Clause is considered to be characterized in the following hypotheses: I - when the statement submitted to the BNDES, pursuant to item III, items "a", "b" and "d" of Clause Twenty Two (Client Statements)ceases to be true, consistent, correct or sufficient, as provided for in Paragraph One of Clause Twenty Two (Client Statements)/ II - when the statement referred to in item I above is requested and not submitted to the BNDES within the period provided for in Paragraph Two of Clause Twenty Two (Client Statements); III - non-existence or loss of validity and/or effectiveness of any of the environmental licenses, duly issued by the competent environmental agency, necessary for the implementation and/or operation of the project, according to the stage of the Project; or IV - existence of an administrative or judicial decision that (i) results in the suspension, invalidity or extinction of the environmental licensing of the project or (ii) determines the environmental irregularity of the project, provided that, in both cases, the effects of the decision are not suspended.

PARAGRAPH FOUR. For purposes of this Agreement, the terms mentioned in item VII of this Section have the following meaning:

PARAGRAPH FOUR. The percentage of 2.20% (two integers and twenty hundredths percent) or 2.75% (two integers and seventy-five hundredths percent) per annum above the TR referred to in the caption of this Clause, plus the TR itself, will be charged on the outstanding balance on the due date and/or capitalization date of the interest referred to in Paragraph Five or on the maturity or settlement date of this Instrument, taking into account, for the daily calculation of interest, the number of days elapsed between the date of each Financial Event and the due dates referred to above.

PARAGRAPH FOUR. For purposes of the special obligation set forth in item V of the main provision of this Section, measures to prevent the performance of corrupt practices are understood, among others, as the implementation, maintenance and/or improvement of practices and/or internal control systems, including standards of conduct, integrity policies and procedures, aiming at securing full compliance with the Brazilian and foreign law applicable to the Beneficiary and/or to its affiliates.

PARAGRAPH FOUR. The average amortization period of each installment of the credit, referred to in item I of the previous paragraph of this Clause, will be calculated according to the formula below: [***]