Common use of CAPACITY OF EMPLOYER Clause in Contracts

CAPACITY OF EMPLOYER. Should the employer sign this agreement as trustee or agent for a company or Close Corporation, the signatory shall be deemed to be personally liable in terms of this agreement should the company not be incorporated or not ratify and adopt this agreement within 21 (twenty one) days of the date of signature hereof. Upon incorporation and ratification as aforesaid, the signatory by his signature hereto binds himself as surety for and co-principal debtor in solidum with the company for the due and punctual performance by the company employer of its obligations arising out of this agreement.

CAPACITY OF EMPLOYER. Should the employer Employer sign this agreement Agreement as trustee or agent for a company or Close Corporationclose corporation to be formed, the signatory shall be deemed to be personally liable in terms of this agreement Agreement should the company of close corporation not be incorporated or not ratify and adopt this agreement Agreement within 21 30 (twenty onethirty) days of the date of signature hereofSignature Date. Upon incorporation and ratification as aforesaid, the signatory by his signature hereto hereto, binds himself as surety for and co-principal debtor in solidum with the company or close corporation for the due and punctual performance by the company employer or close corporation of its obligations arising out of this agreementAgreement.

CAPACITY OF EMPLOYER. Should the employer Employer sign this agreement as trustee or agent for a company or Close Corporation, the signatory shall be deemed to be personally liable in terms of this agreement should the company not be incorporated or not ratify and adopt this agreement within 21 (twenty oneTwenty One) days of the date of signature hereof. Upon incorporation and ratification as aforesaid, the signatory by his signature hereto binds himself as surety for and co-principal debtor in solidum with the company for the due and punctual performance by the company employer Employer of its obligations arising out of this agreement.