Section 1340 Clause Samples
Section 1340 typically refers to a provision that outlines the requirements and procedures for the issuance of stock certificates by a corporation. In practice, this clause specifies the information that must be included on stock certificates, such as the name of the corporation, the number and class of shares, and any applicable restrictions or rights. It may also address the process for replacing lost or destroyed certificates and the responsibilities of corporate officers in signing and authenticating these documents. The core function of Section 1340 is to ensure clarity and legal compliance in the documentation and transfer of corporate ownership interests.
Section 1340. Hazardous Substances Generated/Aggravated by PURCHASER. PURCHASER shall be held responsible for any and all releases of Hazardous Substances during performance of the Contract which occur as a result of, or are aggravated by, actions of its agents, personnel, or subcontractors. PURCHASER shall immediately notify STATE of any release of Hazardous Substances and, as directed by STATE, shall promptly dispose of or otherwise remediate such spills or leaks to the satisfaction of STATE and proper regulatory agencies in a manner that complies with applicable federal, state, and local laws and regulations. Remediation shall be at no cost to STATE. PURCHASER, at all times, shall: