Status of Said SAC Sample Clauses

The "Status of Said SAC" clause defines the legal standing or recognition of a specific Special Account (SAC) within the context of the agreement. It typically clarifies whether the SAC is considered a separate legal entity, its relationship to the parties involved, and how its assets and liabilities are treated. For example, the clause may specify that the SAC is distinct from the general assets of a company, or that it is subject to certain regulatory requirements. The core function of this clause is to ensure clarity regarding the SAC's role and status, thereby preventing misunderstandings or disputes about ownership, liability, or regulatory compliance.
Status of Said SAC. The Conveniences of the said SAC (defined in Clause “L” below) which shall be situated in the Said Complex shall be deemed to be a constituent of the Common Portions of the Said Complex and the Allottee shall have undivided, impartible, proportionate and variable share and/or interest in the Conveniences of the Said SAC, subject to the other provisions of this Agreement, particularly, with regard to the said SAC.
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Status of Said SAC. The Conveniences of the Said SAC shall be deemed to be a constituent of the Common Areas of the Said Project and the Allottee shall have undivided, impartible, proportionate and variable share and/or interest in the Conveniences of the Said SAC, subject to the other provisions of this Agreement, particularly, with regard to the Said SAC.
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Related to Status of Said SAC

  • Status of RIC and BDC The Borrower shall at all times maintain its status as a RIC under the Code, and as a “business development company” under the Investment Company Act.

  • Status of Stock The Director understands that at the time of the execution of this Agreement the sale of the Restricted Shares has not been registered under the Securities Act or any state securities law and that the Company does not currently intend to effect any such registration. The Director agrees that the Restricted Shares and the Earned Shares when issued under this Agreement are being acquired for investment without a view to distribution, within the meaning of the Securities Act, and shall not be sold, transferred, assigned, pledged or hypothecated in the absence of (a) an effective registration statement for the sale of such shares under the Securities Act and applicable state securities laws or (b) if requested by the Company, the delivery by the Director to the Company of a written opinion of legal counsel, who shall be satisfactory to the Company, addressed to the Company and satisfactory in form and substance to the Company’s counsel, to the effect that an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws is available. The Director also agrees that the Restricted Shares and Earned Shares issued under this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws. In addition, the Director agrees that (a) the certificates, if any, representing the Restricted Shares and Earned Shares may bear such legend or legends as the Committee deems appropriate in order to reflect the Forfeiture Restrictions and to assure compliance with applicable securities laws, (b) the Company may refuse to register the transfer of the Restricted Shares or Earned Shares on the stock transfer records of the Company if such proposed transfer would constitute a violation of the Forfeiture Restrictions or, in the opinion of counsel satisfactory to the Company, of any applicable securities law, and (c) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of the Restricted Shares.

  • STATUS OF CONTRACTOR 20 CONTRACTOR is, and shall at all times be deemed to be, an independent contractor and shall be 21 wholly responsible for the manner in which it performs the services required of it by the terms of this 22 Agreement. CONTRACTOR is entirely responsible for compensating staff, subcontractors, and 23 consultants employed by CONTRACTOR. This Agreement shall not be construed as creating the 24 relationship of employer and employee, or principal and agent, between COUNTY and CONTRACTOR 25 or any of CONTRACTOR’s employees, agents, consultants, or subcontractors. CONTRACTOR 26 assumes exclusively the responsibility for the acts of its employees, agents, consultants, or 27 subcontractors as they relate to the services to be provided during the course and scope of their 28 employment. CONTRACTOR, its agents, employees, consultants, or subcontractors, shall not be 29 entitled to any rights or privileges of COUNTY employees and shall not be considered in any manner to 30 be COUNTY employees. 31

  • Status of IOM Nothing in or relating to the Agreement shall be deemed a waiver, express or implied, of any of the privileges and immunities of the International Organization for Migration as an intergovernmental organization.

  • Status of Parties The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction.