During the term of this Agreement a. The Company shall pay the Executive a base salary at an annual rate of $211,000, which shall be payable periodically in accordance with the Company's then prevailing payroll practices, or such greater amount as the Company may from time to time determine; b. The Executive shall be entitled to participate in the Company's Supplemental Executive Retirement Plan ("SERP") according to its terms, as modified by Schedule A hereto; c. The Executive shall be entitled to participate in the Company's Officers Incentive Compensation Plan, Stock Option Plan and Performance Share Unit Plan, and any successors thereto, in accordance with the terms thereof; and d. The Executive shall be entitled to such expense accounts, vacation time, sick leave, perquisites of office, fringe benefits, insurance coverage, and other terms and conditions of employment as the Company generally provides to its employees having rank and seniority at the Company comparable to the Executive.
During the term of this Agreement the Employer shall
During the term of this Agreement. Executive's salary and other compensation shall be comprised of compensation payable by Employer to Executive. Accordingly, the parties agree that Employer will pay Executive the annual salary of , less withholdings required by law and as agreed to by Executive. Payments to Executive shall be made on Employer regular paydays over a twelve month period. Executive shall take one continuous month off during the fiscal year. The month off is not an accrued benefit and would be lost if not taken as expected.
During the term of this Agreement. LTC shall pay to Executive a base salary at an annual rate of not less than Two Hundred Sixty-Five Thousand Dollars ($265,000) per annum, paid in approximately equal installments at intervals based on any reasonable Company policy. LTC agrees from time to time to consider increases in such base salary in the discretion of the Board of Directors. Any increase, once granted, shall automatically amend this Agreement to provide that thereafter Executive's base salary shall not be less than the annual amount to which such base salary has been increased.
During the term of this Agreement. THE COLLATERAL FUNDS SHALL BE INVESTED AND REINVESTED BY THE AGENT IN (I) ONE OR MORE OF THE INVESTMENTS INDICATED ON SCHEDULE I OR (II) SUCH OTHER INVESTMENTS AS SHALL BE ACCEPTABLE TO THE AGENT AND AS SHALL BE DIRECTED IN WRITING BY BOTH BUYER AND SELLER. THE AGENT SHALL HAVE THE RIGHT TO LIQUIDATE ANY INVESTMENTS HELD IN ORDER TO PROVIDE FUNDS NECESSARY TO MAKE REQUIRED PAYMENTS UNDER THIS AGREEMENT. THE AGENT SHALL HAVE NO LIABILITY FOR ANY LOSS SUSTAINED AS A RESULT OF ANY INVESTMENT IN AN INVESTMENT INDICATED ON SCHEDULE I OR ANY INVESTMENT MADE PURSUANT TO THE INSTRUCTIONS OF THE PARTIES HERETO OR AS A RESULT OF ANY LIQUIDATION OF ANY INVESTMENT PRIOR TO ITS MATURITY OR FOR THE FAILURE OF THE PARTIES TO GIVE THE AGENT INSTRUCTIONS TO INVEST OR REINVEST THE FUNDS. ALL INTEREST EARNED ON THE INVESTMENT AMOUNTS IN THE COLLATERAL FUNDS IN ACCORDANCE WITH THIS SECTION 5 SHALL BE PAID ON A QUARTERLY BASIS TO BUYER AND SELLER, PRO RATA AMONG THEM, IN THE PROPORTION THAT AMOUNTS THEN DUE BUT UNPAID TO EACH OF SUCH PARTIES IN RESPECT OF THE XXXXXXX NOTE AND THE SUPPLEMENTAL PAYMENTS (WITHOUT GIVING EFFECT TO AMOUNTS THEN ON DEPOSIT IN THE COLLATERAL ACCOUNT), AS APPLICABLE, BEARS TO THE AGGREGATE AMOUNT DUE BUT UNPAID TO BOTH OF SUCH PARTIES IN RESPECT OF THE XXXXXXX NOTE AND THE SUPPLEMENTAL PAYMENTS. RELIANCE BY AGENT. THE AGENT MAY RELY, AND SHALL BE PROTECTED IN ACTING OR REFRAINING FROM ACTING, UPON ANY WRITTEN NOTICE, INSTRUCTION, CONSENT OR REQUEST FURNISHED TO IT HEREUNDER AND BELIEVED BY IT TO BE GENUINE AND TO HAVE BEEN SIGNED OR PRESENTED BY THE PROPER PARTY OR PARTIES. THE AGENT MAY RELY UPON ANY ORDER, JUDGMENT, CERTIFICATION, DEMAND OR OTHER WRITING DELIVERED TO IT WITHOUT BEING REQUIRED TO DETERMINE THE PROPRIETY OR VALIDITY OF THE SERVICE THEREOF OR THE JURISDICTION OF ANY COURT. IN THE EVENT OF ANY DISPUTE OR DOUBT AS TO THE GENUINENESS OF ANY DOCUMENT OR SIGNATURE, THE AGENT MAY, AT ITS ELECTION, CONTINUE TO HOLD THE COLLATERAL FUNDS UNTIL OTHERWISE DIRECTED BY EITHER (I) JOINT WRITTEN INSTRUCTIONS FROM BUYER AND SELLER OR (II) A COURT ORDER BINDING ON THE AGENT WHICH HAS NOT BEEN STAYED OR VACATED. AGENT’S ROLE; INDEMNIFICATION. THE AGENT SHALL HAVE NO DUTIES OR OBLIGATIONS HEREUNDER EXCEPT AS EXPRESSLY SET FORTH HEREIN, SHALL BE RESPONSIBLE ONLY FOR THE PERFORMANCE OF SUCH DUTIES AND OBLIGATIONS, SHALL NOT BE REQUIRED TO TAKE ANY ACTION OTHERWISE THAN IN ACCORDANCE WITH THE TERMS HEREOF AND SHALL NOT BE IN ANY MANNER LIABLE OR RESPONSIBLE...
During the term of this Agreement. Xxxxxx declares and guarantees that Xxx Xxxxxxxx undertakes to remain actively and effectively at the service of the Company, on an exclusive basis. For the avoidance of doubt, this agreement is executed in an intuitu personae basis, reason which the permanence of Xxxx Xxxxxxxx as appointed Director and CEO or the Company has been an essential condition for ANI PT to execute this agreement.
During the term of this Agreement. (a) BEZL will not contract with any other Person to provide services which are the same or similar to the Management Services. For purposes of this Section 7 only, “Person” does not include any Affiliate of either Party, including other entities that may become affiliated with either Party.
During the term of this Agreement. (a) the Borrower shall, and AmeriCredit shall cause the Borrower to, duly and punctually pay the Obligations at the times and places and in the manner required by the terms thereof;
(b) each of AmeriCredit and the Borrower shall, and AmeriCredit shall cause the Borrower to, perform its respective obligations under the Credit Documents to which it is a party in accordance with the terms thereof;
(c) the Borrower shall, and AmeriCredit shall cause the Borrower to, maintain its existence as a Delaware business trust in good standing under the laws of the State of Delaware, not (i) liquidate, dissolve or wind up, (ii) seek appointment of a receiver or (iii) make a general assignment for the benefit of the creditors (or take any steps in connection therewith), and do, or cause to be done, all things necessary to keep in full force and effect all properties, rights, franchises, licenses and qualifications to carry on business in all jurisdictions necessary to the performance of any obligations under each Credit Document;
(d) each of AmeriCredit and the Borrower shall, and AmeriCredit shall cause the Borrower to, provide the Noteholders with such documents, opinions, consents, acknowledgements and agreements as the Noteholders may reasonably require in order to implement this Agreement or any other Credit Documents from time to time;
(e) each of AmeriCredit and the Borrower shall, and AmeriCredit shall cause the Borrower to, file or cause to be filed when due all federal, state and local returns, 21- filings, elections and reports which are required to be filed by it in respect of all Taxes, and shall pay all such Taxes as may be required by law and in accordance with any assessment or demand for payment received by it as and when such Taxes become due and payable and provide evidence of payment if so requested by the Noteholders; and each of AmeriCredit and the Borrower shall, and AmeriCredit shall cause the Borrower to, from time to time withhold and remit all amounts required to be withheld (including without limitation, in respect of income tax, withholding taxes on payments to non-residents, any ERISA pension plan and employment insurance) from all payments made to officers and employees or to all non-residents and to all other applicable Persons and the Borrower and AmeriCredit, as the case may be, shall pay all such amounts, together with any interest and penalties due, to the appropriate authority as required by law;
(f) not later than one (1) Business Da...
During the term of this Agreement. AND FOR A
During the term of this Agreement. DESIGN PROFESSIONAL shall provide, pay for, and maintain, with companies satisfactory to OWNER, the types of insurance described herein. All insurance shall be from responsible companies duly authorized to do business in the State of Florida. Simultaneously with the execution and delivery of this Agreement by DESIGN PROFESSIONAL, DESIGN PROFESSIONAL has delivered to OWNER properly executed Certificates of Insurance, using the modified XXXXX form 25, Certificate of Insurance, which is attached hereto as USchedule DU, evidencing the fact that DESIGN PROFESSIONAL has acquired and put in place the insurance coverage’s and limits required hereunder. In addition, certified, true and exact copies of all insurance policies required shall be provided to OWNER, on a timely basis, if requested by OWNER. These Certificates and policies shall contain provisions that thirty (30) days written notice by registered or certified mail shall be given OWNER of any cancellation, intent not to renew, or reduction in the policies’ coverage’s, except in the application of the Aggregate Limits Provisions. DESIGN PROFESSIONAL shall also notify OWNER, in a like manner, within twenty-four (24) hours after receipt, of any notices of expiration, cancellation, non-renewal or material change in coverage’s or limits received by DESIGN PROFESSIONAL from its insurer, and nothing contained herein shall relieve DESIGN PROFESSIONAL of this requirement to provide notice. In the event of a reduction in the aggregate limit of any policy to be provided by it hereunder, DESIGN PROFESSIONAL shall immediately take steps to have the aggregate limit reinstated to the full extent permitted under such policy. All insurance coverage’s of DESIGN PROFESSIONAL shall be primary to any insurance or self-insurance program carried by OWNER applicable to this Project.
