Purpose Hereof Clause Samples

The "Purpose Hereof" clause defines the main objective or intent behind the agreement or a specific section of the contract. It typically outlines what the parties aim to achieve through their arrangement, such as establishing a business relationship, facilitating a transaction, or setting the framework for collaboration. By clearly stating the purpose, this clause helps ensure that all parties share a mutual understanding of the contract’s goals, reducing the risk of misunderstandings or disputes about the agreement’s scope and intent.
Purpose Hereof. The Bank, the Managing General Partner (for itself and the Partnership) and the Dealer Manager hereby enter into this Escrow Agreement.
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Purpose Hereof. In order to facilitate the purchase of the Shares, FPC shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to FPC until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, OPI shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to OPI until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, JSI shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to JSI until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, MPI shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to MPI until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, ASC shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to ASC until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, GHI shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with MLF, and MLF shall hold the Escrow Funds and not release them to GHI until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, DMS shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to DMS until such time as is described below.
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Purpose Hereof. In order to facilitate the purchase of the Shares, WOTN shall deposit all funds received by it from the sale of the Shares to Investors (the "Escrow Funds") with TAO, and TAO shall hold the Escrow Funds and not release them to WOTN until such time as is described below.
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Related to Purpose Hereof

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data

  • Purpose and Content This Purchase Agreement details the outputs that the Cabinet of the Cayman Islands Government and Cayman Airways Limited have agreed that Cayman Airways Limited will deliver, and the Cabinet will purchase, during the 2020 and 2021 financial years. The purpose of this document is to ensure that the performance expected of Cayman Airways Limited is clearly understood and agreed by both parties.

  • Single-Purpose Entity Each Mortgage Loan requires the Mortgagor to be a Single-Purpose Entity for at least as long as the Mortgage Loan is outstanding. Each Mortgage Loan with a Cut-off Date Balance of $30 million or more has a counsel’s opinion regarding non-consolidation of the Mortgagor. For this purpose, a “Single-Purpose Entity” shall mean an entity, other than an individual, whose organizational documents and the related Mortgage Loan documents (or if the Mortgage Loan has a Cut-off Date Balance equal to $10 million or less, its organizational documents or the related Mortgage Loan documents) provide substantially to the effect that it was formed or organized solely for the purpose of owning and operating one or more of the Mortgaged Properties and prohibit it from engaging in any business unrelated to such Mortgaged Property or Mortgaged Properties, and whose organizational documents further provide, or which entity represented in the related Mortgage Loan documents, substantially to the effect that it does not have any assets other than those related to its interest in and operation of such Mortgaged Property or Mortgaged Properties, or any indebtedness other than as permitted by the related Mortgage(s) or the other related Mortgage Loan documents, that it has its own books and records and accounts separate and apart from those of any other person (other than a Mortgagor for a Mortgage Loan that is cross-collateralized and cross-defaulted with the related Mortgage Loan), and that it holds itself out as a legal entity, separate and apart from any other person or entity.

  • Purpose of Attachment Facilities Except as may be required by Applicable Laws and Regulations, or as otherwise agreed to among the Parties, the Attachment Facilities shall be constructed for the sole purpose of interconnecting the Large Generating Facility to the New York State Transmission System and shall be used for no other purpose.

  • PURPOSE OF THIS AGREEMENT The purpose of this Agreement is to - 2.1 comply with the provisions of Section 57(1)(b), (4A), (4B) and (5) of the Systems Act as well as the employment contract entered into between the parties; 2.2 specify objectives and targets defined and agreed with the Employee and to communicate to the Employee the Employer’s expectations of the Employee’s performance and accountabilities in alignment with the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer; 2.3 specify accountabilities as set out in a performance plan, which forms an annexure to the performance agreement; 2.4 monitor and measure performance against set targeted outputs; 2.5 use the performance agreement as the basis for assessing whether the Employee has met the performance expectations applicable to his or her job; 2.6 in the event of outstanding performance, to appropriately reward the Employee; and 2.7 give effect to the Employer’s commitment to a performance-orientated relationship with its