By the Principal Sample Clauses

By the Principal. (a) The Principal may terminate this Agreement immediately at any time and for whatever reason upon giving written notice to the Artist. Upon such termination the Fee paid or payable to the Artist shall be adjusted either by additional payment or refund by either party according to the amount of artistic work done by the Artist in pursuance of this Agreement up to the date of receiving such notice. (b) In the event that the Artist breaches any term or condition of this Agreement the Principal shall give written notification of the breach to the Artist who shall have the number of days specified in that notice (and where no number of days is specified, then 28 days) within which to remedy the breach. If the breach is not remedied within the time required by the aforementioned notice, the Principal may terminate the Agreement by giving the Artist written notice of the termination and may recover any Fee already paid to the Artist. (c) Without prejudice to its rights above, the Principal may seek to recover from the Artist any costs, lossess, liabilities or expenses that the Principal becomes liable for by virtue of the Artist’s failure to remedy any breach of any term or condition of this Agreement. (d) If the Principal terminates the Agreement in circumstances arising from a breach of this Agreement by the Artist, the Principal shall have the sole right to all preliminary designs of the Artwork. The Principal shall be entitled to retain any part of the Artwork done up to the date of termination that has been paid for.
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By the Principal. The PRINCIPAL may terminate his employment by submitting his written resignation to the Superintendent with as much advance notice as possible but no less than ninety (90) calendar days advance notice. In the event of termination pursuant to this paragraph 13.4, the DISTRICT shall not be required to pay, and the PRINCIPAL shall not be entitled to receive compensation and benefits provided by this AGREEMENT after the effective date of the PRINCIPAL’S resignation. The PRINCIPAL may request to use his accrued vacation days prior to his separation from employment and/or the Superintendent may schedule the PRINCIPAL for vacation days prior to his final day of employment. The DISTRICT shall pay the PRINCIPAL for his accrued unused vacation days remaining at the time of the PRINCIPAL’S separation from employment.
Sample 1
By the Principal. The Principal may terminate her employment by submitting his written resignation to the Superintendent with as much advance notice as possible but no less than sixty (60) calendar days’ advance notice. In the event of termination pursuant to this paragraph, the District shall not be required to pay, and the Principal shall not be entitled to receive salary payments and benefits payable after the effective date of the Principal’s resignation.
Sample 1

Related to By the Principal

  • Purchases as Principal Each sale of Notes to the Agent as principal shall be made in accordance with the terms of this Agreement and the Agent and the Company will enter into a Terms Agreement that will provide for the sale of such Notes to and the purchase thereof by the Agent. Each "Terms Agreement" may take the form of an exchange of any form of written telecommunication or oral communication followed by written confirmation or telecommunication between the Agent and the Company and shall be with respect to such information (as applicable) as is specified in Exhibit A hereto. The Agent's commitment to purchase Notes as principal shall be deemed to have been made on the basis of the representations and warranties of the Company herein contained and shall be subject to the terms and conditions herein set forth. Each agreement by the Agent to purchase Notes as principal (whether or not set forth in a Terms Agreement) shall specify the principal amount of Notes to be purchased by the Agent pursuant thereto, the maturity date of such Notes, the price to be paid to the Company for such Notes, the interest rate and interest rate formula, if any, applicable to such Notes and any other terms of such Notes. Each such agreement shall also specify any requirements for officers' certificates, opinions of counsel and letters from the independent public accountants of the Company pursuant to Section 4 hereof. A Terms Agreement may also specify certain provisions relating to the reoffering of such Notes by the Agent. Each Terms Agreement shall specify the time and place of delivery of and payment for such Notes. Each date of delivery of and payment for Notes to be purchased by the Agent as principal or as agent or by any other purchaser is referred to herein as a "Settlement Date." Upon the Company's request, the Agent will notify the Company either orally or in writing (as specified by the Company) of the aggregate principal amount of Notes held by the Agent as principal purchased pursuant to a Terms Agreement pursuant to this Agreement.

  • Repayment of Interest and Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Interest and Principal (a) On each Payment Date, Borrower shall pay interest on the Principal Indebtedness for the applicable Interest Accrual Period at a rate per annum (the “Interest Rate”) equal to the sum of the Spread plus the greater of (x) 0.99% (99 basis points) or (y) LIBOR, determined as of the Interest Determination Date immediately preceding such Interest Accrual Period (except that at any time that the Loan is a Prime Rate Loan, such rate per annum shall be the sum of the Prime Rate, determined as of the Interest Determination Date immediately preceding such Interest Accrual Period, plus the Prime Rate Spread; and in each case, interest shall be payable on the Indebtedness, including due but unpaid interest, at the Default Rate with respect to any portion of such Interest Accrual Period falling during the continuance of an Event of Default). As of the Closing Date, the Loan is a LIBOR Loan, and except as provided in Section 1.2(d), the Loan shall at all times be a LIBOR Loan. On each Payment Date, Borrower shall additionally pay to Lender an administrative fee (the “Administrative Fee”) that shall be calculated in respect of each interest accrual period in the same manner as interest hereunder, at a rate per annum equal to 0.05% (5 basis points) of the Principal Indebtedness, computed on the basis of a 360-day year and the actual number of days elapsed in the related Interest Accrual Period. The Administrative Fee shall start to accrue on the Closing Date and shall be payable in arrears on each Payment Date until the Loan is repaid in full in accordance herewith. For avoidance of doubt, the Administrative Fee shall be paid in the same manner and amount, and at the same times, as if it were a 5 basis point increase in the Interest Rate. Notwithstanding the foregoing, on the Closing Date, Borrower shall pay interest and the Administrative Fee from and including the Closing Date through the end of the first Interest Accrual Period, in lieu of making such payment on the first Payment Date following the Closing Date (unless the Closing Date falls on a Payment Date, in which case, no interest or Administrative Fee will be collected on the Closing Date, and Borrower shall make the payment required pursuant to this Section commencing on the first Payment Date following the Closing Date). (b) No prepayments of the Loan shall be permitted except for (i) prepayments made pursuant to Section 2.1 (including any prepayment under Section 1.1(d) in accordance with Section 2.1) (ii) prepayments resulting from Casualty or Condemnation as described in

  • Mortgage Loan Liquidated by _________________ (The Company hereby certifies that all proceeds of foreclosure, insurance, condemnation or other liquidation have been finally received and credited to the Collection Account pursuant to the Pooling and Servicing Agreement.)

  • Principal It is acting as principal and not as agent when entering into this Agreement and each Transaction.

  • Determination of Monthly Principal (a) The amount of monthly principal distributable from the Principal Account with respect to the Class A Certificates on each Transfer Date ("Class A Monthly Principal"), beginning with the Transfer Date in the month following the month in which the Controlled Accumulation Period or, if earlier, the Rapid Accumulation Period or the Rapid Amortization Period begins, shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Investor Interest (after taking into account any adjustments to be made on such Transfer Date pursuant to Section 4.10) prior to any deposit into the Principal Funding Account on such Transfer Date. (b) The amount of monthly principal distributable from the Principal Account with respect to the Class B Certificates on each Transfer Date (the "Class B Monthly Principal"), with respect to the Controlled Accumulation Period or the Rapid Accumulation Period, beginning with the Transfer Date on which an amount equal to the Class A Investor Interest has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Transfer Date), or during the Rapid Amortization Period, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class A Investor Interest will be paid in full (after taking into account payments to be made on the related Distribution Date), shall be an amount equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date (minus the portion of such Available Investor Principal Collections applied to Class A Monthly Principal on such Transfer Date), (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date (minus the Class A Monthly Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Investor Interest (after taking into account any adjustments to be made on such Transfer Date pursuant to Sections 4.10 and 4.12) prior to any deposit into the Principal Funding Account on such Transfer Date. (c) The amount of monthly principal distributable from the Principal Account with respect to the Collateral Interest on each Transfer Date (the "Collateral Monthly Principal"), with respect to the Controlled Accumulation Period, beginning with the Transfer Date on which an amount equal to the sum of (i) the Class A Investor Interest and (ii) the Class B Investor Interest has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Transfer Date), or during the Rapid Accumulation Period or the Rapid Amortization Period, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class B Investor Interest will be paid in full (after taking into account payments to be made on the related Distribution Date), shall be an amount equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date (minus the portion of such Available Investor Principal Collections applied to Class A Monthly Principal and Class B Monthly Principal on such Transfer Date), (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date (minus the Class A Monthly Principal and Class B Monthly Principal with respect to such Transfer Date) and (iii) the Collateral Interest Adjusted Amount (after taking into account any adjustments to be made on such Transfer Date pursuant to Sections 4.10 and 4.12) prior to any deposit into the Principal Funding Account on such Transfer Date.

  • Original Class B Principal Balance The Original Class B Principal Balance is $5,261,866.96.

  • Payments of Interest and Principal (a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class B(2020-2) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class B(2020-2) Notes in accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class B(2020-2) Notes shall be made as set forth in Section 1102 of the Indenture. (b) The right of the Class B(2020-2) Noteholders to receive payments from the Issuer will terminate on the Class B(2020-2) Termination Date. (c) All payments of principal, interest or other amounts to the Class B(2020-2) Noteholders will be made pro rata based on the Stated Principal Amount of their Class B(2020-2) Notes.

  • Designation and Principal Amount There is hereby authorized and established a new series of Securities under the Base Indenture, designated as the “8.125% Senior Notes due 2019”, which is not limited in aggregate principal amount. The initial aggregate principal amount of the Senior Notes to be issued under this Third Supplemental Indenture shall be limited to $700,000,000. Any additional amounts of such series to be issued shall be set forth in a Company Order.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.