Pursuant to Section 16 Sample Clauses
The phrase "Pursuant to Section 16" is used to reference and incorporate the terms, requirements, or procedures outlined in Section 16 of a contract or legal document. In practice, this clause directs the reader or parties to follow the specific provisions set forth in Section 16 when addressing a particular issue, such as dispute resolution, notice requirements, or other obligations. Its core function is to ensure clarity and consistency by explicitly linking actions or obligations to the relevant section, thereby reducing ambiguity and potential misunderstandings.
Pursuant to Section 16. 4 of the Company OP Agreement, the Class B Units are convertible automatically into Company OP Units at such time as the Advisor’s capital account with respect to a Class B Unit is equal to the average capital account balance attributable to an outstanding Company OP Unit (as determined on a unit-by-unit basis). Pursuant to subparagraph 1(c)(ii) of Exhibit B of the Company OP Agreement, the Advisor is entitled to special allocations of unrealized appreciation in the value of the Company OP’s assets. Furthermore, pursuant to Section 16.4(b) of the Company OP Agreement, the Advisor has the right up to twice per year to cause the Company OP to adjust the book value of its assets to fair market value, a “book-up”, by making a capital contribution of more than a de minimis amount to the Company OP in exchange for Company OP Units. The Advisor hereby elects to make such a capital contribution to the Company OP in exchange for Company OP Units prior to the consummation of the Transaction, if necessary to be effective, in order to cause such an adjustment and allow it to convert the maximum number of Class B Units to Company OP Units in connection with the consummation of the Transaction, and the Company and the Company OP hereby acknowledge and agree to allow the Advisor to make such capital contributions in order to effectuate a book-up prior to the Closing Date. The amount of the capital contribution, if any, and the number of Company OP Units issuable will be agreed to in good faith by the Company, the Company OP and the Advisor. Upon the consummation of the Transaction, each Company OP Unit will automatically be converted into 0.95 Parent OP Units as set forth in the Merger Agreement. The Advisor agrees that these Parent OP Units are subject to a minimum one-year holding period prior to being exchangeable into Parent Common Stock.
Pursuant to Section 16. 3.1 of this Agreement, on a Non-Exclusive Antigen-by-Non-Exclusive Antigen basis, Medarex has granted to Genmab option(s) to obtain one or more Exclusive Antibody License(s) under the Medarex Technology, in each case with respect to particular Antibodies raised against the particular Non-Exclusive Antigen. Subject to Section 20.3 of this Agreement, Medarex hereby grants to Genmab an option to expand the rights granted by Medarex to Genmab in the Exclusive Antibody License with respect to a particular Non-Exclusive Antigen to include rights with respect to the Additional Technology (each an “Additional Technology Exclusive Antibody Commercial Option”). It is hereby agreed that, once a particular antigen becomes a Non-Exclusive Antigen in accordance with Section 16.2, an Additional Technology Exclusive Antibody Commercial Option shall be kept available by Medarex for such Non-Exclusive Antigen for as long as (i) such antigen remains a Non-Exclusive Antigen, and (ii) the [***] has not expired or been terminated.
Pursuant to Section 16. 1 of the Lease, Tenant is required to deliver to Landlord the Security Deposit in the form of a clean, unconditional, irrevocable letter of credit (a “Letter of Credit Security Deposit”) in the amount of [***] (the “Security Deposit Requirement”). The Parties hereto agree that in lieu of a Letter of Credit Security Deposit, Tenant’s Security Deposit Requirement may be fulfilled by a security deposit in the form of cash (the “Cash Security Deposit”). Landlord desires for Tenant and Tenant agrees to, concurrently with the execution of this Amendment, deliver to Landlord the Cash Security Deposit. So long as the Security Deposit is in the form of the Cash Security Deposit, the following conditions shall apply:
(a) Landlord is not required to pay any interest on the Security Deposit. The Cash Security Deposit is not an advance payment of Rent nor a measure or limit of Landlord’s damages upon a Default. The Cash Security Deposit secures Tenant’s performance of all Lease obligations. Without prejudice to any other remedies that may be available to Landlord, Landlord, subject to the terms and conditions of the Lease, may apply the Cash Security Deposit against any cost Landlord incurs or damage Landlord suffers because Tenant fails to perform any Lease obligation. Upon Landlord’s demand, Tenant shall replenish the amount of the Cash Security Deposit applied by Landlord so that at all times until the Final Date (as hereinafter defined) the Security Deposit held by Landlord is no less than [***] (as may be adjusted from time-to-time in accordance with the terms of the Lease).
(b) If Tenant fully and faithfully performs all of its Lease obligations, Landlord will refund the Cash Security Deposit (or any balance remaining) to Tenant no later than the date (the “Final Date”) which is the later of (1) [***] after the expiration or earlier termination of the Term and (ii) Tenant’s vacation and surrender of the Premises to Landlord in the condition required by Section 3.3 of the Lease. If Tenant has assigned the Lease in accordance with Article 15 of the Lease, upon the expiration or earlier termination of the Lease, Landlord may return the Cash Security Deposit (or any balance remaining) to either Tenant or the then current assignee. Landlord’s transfer of the Cash Security Deposit to any transferee of Landlord’s interest in the Building relieves Landlord of its obligations under this Section 2(b), and Tenant will look solely to Landlord’s transferee for return of t...
Pursuant to Section 16. 5 of ------------------------- the Indenture, Section 16.4 is hereby amended such that each reference therein to the Company shall be deemed to read "TRCH".
Pursuant to Section 16. 1.2 of the Agreement, Spansion and FML hereby agree that the Term of the Agreement shall be extended to June 26, 2011 (the “Agreement Term”).
Pursuant to Section 16. 3 of the General Terms and Conditions of MEP's FERC Gas Tariff, Shipper shall have the following Contractual Rollover Rights, which rights supersede any otherwise applicable rollover or Right of First Refusal pursuant to such Section: Shipper shall have the sole right to extend the Term of this Agreement at a Negotiated Monthly Base Reservation Rate for Zone 1 of $10.48 of MDQ and for Zone 2 of $10.23 of MDQ through March 31, 2030, so long as such right is exercised by written notice delivered to MEP (with email notice being sufficient) no later than December 31, 2026.
Pursuant to Section 16. 4 of the Agreement, all rights of Transave, Inc. and Transave, LLC into and under the Agreement, and all obligations and liabilities of Transave, Inc. and Transave, LLC thereunder, are hereby assigned to Insmed, and Insmed hereby accepts such assignment of rights and assumes such obligations and liabilities, and from and alter the date hereof Insmed shall be substituted for Transave Inc. as a party to the License Agreement.
Pursuant to Section 16. 4 of the Terms and Conditions for Merchant Agreement between Company and Paymentech, effective October 31, 2003 (“Paymentech Merchant Agreement”), the Company may not assign or transfer the Paymentech Merchant Agreement without the prior written consent of Paymentech.
Pursuant to Section 16. 5 of Part A - General Terms and Conditions of the Interconnection Agreement, the Parties hereby agree to delete in its entirety Attachment 2 - Network Elements and Other Services, including the rate exhibits thereto, and replace same with Attachment 2 - Network Elements and Other Services from the Parties' February 19, 2001 Interconnection Agreement for the State of Alabama, including the corresponding rate exhibits applicable to the States of Florida, Georgia and Tennessee. Said replacement Attachment 2, including rate exhibits, is attached hereto as Exhibit "A".
Pursuant to Section 16. 1 (a) of the Maine Lease, a default occurring under the Lease, as hereby amended, which is not cured within the applicable grace period set forth in the Lease is deemed an “Event of Default” (as defined in the Maine Lease) under the Maine Lease, entitling HCPI, as “Lessor” under the Maine Lease, to all rights and remedies with respect thereto set forth therein.