Corporation’s Rights. The existence of the Restricted Shares shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Corporation’s capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or any part of the Corporation’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.
Corporation’s Rights. 3.01 The Union agrees that the Corporation has the right to manage its affairs, to direct its employees, and to hire, promote, transfer or lay off, to also suspend, discharge or discipline employees for just cause.
3.02 The Corporation agrees that these functions shall be executed in a manner consistent with the general purposes and intent of this Agreement and subject to the right of the employee to lodge a grievance as set out herein.
Corporation’s Rights. The Corporation's rights and interests in and to the Policy shall be specifically limited to (i) the right to increase or decrease Policy death benefits annually in accordance with maintaining the "Executive's Death Benefit" as defined in Section 1(h); (ii) the right to be paid its Collateral Interest in accordance with Section 6 below; (iii) the rights specified in the Collateral Assignment, and;
Corporation’s Rights. 6.01 The Union agrees that the Town has the exclusive right to manage its affairs, to direct the forces and to hire, promote, transfer, lay-off, suspend, discipline or discharge employees for just cause.
6.02 The Town agrees that these functions shall be executed in a manner consistent with the general purpose and intent of this Agreement and subject to the right of an employee to lodge a grievance as set forth herein.
Corporation’s Rights. The Corporation's rights and interests in and to -------------------- the Policy shall be specifically limited to (i) the right to be paid its Collateral Interest in accordance with Section 6 below, and (ii) the rights specified in the Collateral Assignment.
Corporation’s Rights. Corporation's rights with respect to the -------------------- Policy shall be limited to the following:
(i) The right to receive the Corporate Interest upon the occurrence of a Termination Event as defined in paragraph 5.1 or upon Rollout as defined in paragraph 5.3;
(ii) The right to possess the Policy;
(iii) The right to borrow against the Policy and to secure such loan with the Policy in an amount which together with the unpaid interest thereon will at no time exceed the Corporate Interest; and
(iv) The right to release the Assignment upon receipt of the Corporate Interest. Corporation shall make the Policy reasonably available to Employee and Insurer.
Corporation’s Rights. The Corporation’s rights with respect to the Policy shall be limited to:
(i) the right to obtain, directly or indirectly, one or more loans or advances against the cash value of the Policy, to the extent of, but not in excess of, the amount set forth in Article 4.4 (hereinafter the “Corporate Interest”), and the right to pledge or assign the Corporate Interest as security for such loans or advances; and
(ii) the right to realize up to the Corporate Interest of the cash value of the Policy on the full or partial surrender of the Policy; and
(iii) the right to realize the proceeds of the Policy as set forth in Article 3.2 (hereinafter the “Corporation’s Death Benefit Portion”), in the event of the death of the Employee; and
(iv) the right to release the Collateral Assignment upon receipt of the Corporate Interest.
Corporation’s Rights. (a) The management and operation of, and the direction of the working force is vested exclusively in the Corporation provided, however, that it will not be used for the purpose of discrimination against employees, and provided that it is not against or contrary to the articles of this Agreement. The Corporation agrees to comply with the Human Rights Code of British Columbia.
(b) The Corporation shall have the right to select and promote its employees and to discipline or discharge for proper cause; provided that employees shall retain the right of appeal under the Grievance Procedure contained in this Agreement.
Corporation’s Rights. In exchange for such advances, the Corporation shall have the limited rights described in this paragraph. The Corporation shall
(1) upon surrender of the Policy,
(2) upon termination of this agreement prior to the death of the insured or
(3) upon the death of the insured prior to surrender of the Policy or termination of this Agreement have the right to payment for the surrender or death proceeds of the Policy an amount equal to the sum of the unrepaid advances the Corporation has made under this Agreement. Such payment to the Corporation shall be made at the time of the surrender of the Policy or at the time of the death of the insured. The Employee may, however, in his discretion, make such payment to the Corporation at any earlier time. Such payment to the Corporation from the Policy proceeds or from the Employee shall be a complete discharge of all obligations under this Agreement. Upon receipt of such payment, the Corporation shall execute a release of the assignment of the Policy. The Corporation's rights in the Policy shall be satisfied first from paid-up additions, if any, and then from guaranteed values. The Corporation shall have no right to surrender the Policy, no right to borrow from the Policy, no right to pledge the Policy as collateral, and no right to assign its rights to anyone other than the owner of the Policy.
Corporation’s Rights. The Corporation's rights and interests in and to the Policy shall be specifically limited to (i) the right to be paid its Collateral Interest and the Corporation's Death Benefit, if any, in accordance with Section 6 below, (ii) the rights specified in the Collateral Assignment, and (iii) the right to obtain one (1) or more loans or advances on the Policy, provided, however, that any such loans shall not, in the aggregate, exceed the Aggregate Premiums Paid by the Corporation at any specified date without the written consent of the Participant.
