VALID DISCHARGE. An acknowledgement of receipt signed by the relevant person to whom payments are to be made under this Clause 4 shall constitute a valid discharge of the Collateral Agent's duties with respect to such proceeds.
VALID DISCHARGE Sample Clauses
Related to VALID DISCHARGE
Good Discharge (a) Any payment to be made in respect of the Secured Liabilities by the Security Agent may be made to the Facility Agent on behalf of the Secured Parties and any payment made in that way shall be a good discharge, to the extent of that payment, by the Security Agent. (b) The Security Agent is under no obligation to make the payments to the Facility Agent under paragraph (a) above in the same currency as that in which the obligations and liabilities owing to the relevant Finance Party are denominated.
Suspension and Discharge An employee who has not completed the probationary period may be released without appeal through the grievance procedure. Employees having successfully completed their probationary period shall only be disciplined or discharged for just cause. Prior to suspending or discharging an employee, provided they have completed their probationary period, such employee and the Union Xxxxxxx shall be given the reasons in writing, by the Employer, for the suspension or discharge.
Satisfaction and Discharge This Indenture will cease to be of further effect, and the Trustee, on receipt of a Company Order, at the expense of the Company, will execute proper instruments acknowledging satisfaction and discharge of this Indenture, when (1) either (a) all Subordinated Notes theretofore authenticated and delivered (other than (i) Subordinated Notes that have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.09 and (ii) Subordinated Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 9.03) have been delivered to the Trustee for cancellation; or (b) all Subordinated Notes that have not been delivered to the Trustee for cancellation (i) have become due and payable, or (ii) will become due and payable at their Stated Maturity within one year, or (iii) if redeemable at the option of the Company, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose, an amount sufficient to pay and discharge the entire indebtedness on such Subordinated Notes not theretofore delivered to the Trustee for cancellation, including the principal of, and interest on, such Subordinated Notes, to the date of such deposit (in the case of Subordinated Notes which have become due and payable) or to the Maturity thereof, as the case may be; (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Subordinated Notes; and (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been satisfied. Notwithstanding the satisfaction and discharge of this Indenture with respect to the Subordinated Notes, the obligations of the Company to the Trustee under Section 5.07 and, if money will have been deposited with the Trustee in accordance with Section 3.01(1)(b), the obligations of the Company and the Trustee with respect to the Subordinated Notes under Section 3.03 and Section 9.03 will survive.
DISCIPLINE AND DISCHARGE 13.01 Whenever the Corporation deems it necessary to discipline, suspend or discharge an employee, the Corporation shall advise the employee within fourteen (14) days of becoming aware of the incident, giving written particulars of such censure to the employee with a copy to the President of the Union. 13.02 The Corporation will notify the President/Secretary in writing in all discharge or suspension cases within five (5) working days of the disciplinary action giving the name of the employee concerned and the reason for the discharge or suspension. 13.03 An employee who has completed his probationary period may be dismissed but only for just cause. When an employee is discharged or suspended, he shall be given the reason in the presence of his Xxxxxxx. Such employee and the Union shall be advised promptly in writing by the Corporation of the reason for such discharge or suspension. 13.04 A grievance claiming unjust discharge or suspension shall be submitted in writing to the Director of Human Resources within five (5) days of the date that the Union and the Xxxxxxx have been notified in writing of such discharge or suspension and it shall commence at Step 2 of the grievance procedure. 13.05 Should it be found upon investigation that an employee has been unjustly suspended or discharged, such employee shall be immediately reinstated in his former position without loss of seniority and shall be compensated for all time lost in an amount equal to his normal earnings during the pay period next preceding such discharge or suspension, or by any other arrangement as to compensation which is just and equitable in the opinion of the Parties or in the opinion of a Board of Arbitration, if the matter is referred to such a Board. 13.06 Any disciplinary notation or warning in writing shall be removed from an employee's record after a period of eighteen (18) months in which he has not received any disciplinary warning or suspension. The Employer shall provide any disciplinary letter within a reasonable period of time. In the case of any unreasonable delay in issuing such letter, the parties may by strict mutual agreement revise the date of issuance accordingly.
DISCIPLINE, SUSPENSION AND DISCHARGE 15.01 The Employer shall not discipline, suspend, or discharge an Employee without just cause. 15.02 The Employer and the Union recognize the principle of progressive discipline. 15.03 When an Employee is to be disciplined (e.g., documented oral warning, written warning, suspension, or discharge), such discipline shall only be imposed at a meeting with the Employment Supervisor specifically convened for this purpose. Employees will be given forty-eight (48) hours’ notice, the reason(s) for the meeting and will be advised that they are entitled to be accompanied at this meeting by a Union representative. Such notice shall be in writing. The Union shall be copied on any disciplinary letter within three (3) Business Days of such a meeting. 15.04 A documented oral warning or a written warning shall normally precede imposition of a suspension or discharge, except in the case of gross neglect of duty position abandonment, or gross misconduct. 15.05 Where an Employee has received a disciplinary letter, the Employee may attach comments to the letter and the comments will be placed in their personnel file. (a) A disciplinary letter within an Employee’s personnel file shall be deemed null and void and removed from the file after a twenty-four (24) month period from the date of the letter, provided that no further discipline has been recorded within the period noted above. (b) Where, upon an Employee’s graduation from their program at Queen’s University, a disciplinary letter has been in the Employee’s personnel file for a period of no less than twelve (12) months, such a disciplinary letter shall be removed from the Employee’s personnel file at their request. (c) Article 15.06 (b) does not apply when the Employee registers immediately from one program at Queen’s University into another program at Queen’s University. 15.07 In cases involving allegations of serious misconduct or a threat to the safety of a person or property, as a precautionary measure, the Xxxx (or delegate) of the faculty in which the Employee works may suspend the Employee with pay during an investigation. Within one (1) Business Day from the time of such a suspension, the Employer shall provide the Employee with a letter setting out the allegation or threat with a copy to the Union. The letter will inform the Employee of their right to Union representation in connection with the matter and a meeting will be scheduled between the parties within three (3) Business Days of the above letter being provided. The parties may delay this meeting by written agreement pending the outcome of an investigation. The Employer will complete the investigation and inform the Employee of the results of the investigation, and of any corrective action that has been or will be taken, normally within ninety (90) calendar days of the commencement of the investigation, unless there are extenuating circumstances warranting a longer investigation. During any meetings between the Employee and the Employer during the investigation, the Employee may choose to be accompanied by a Union representative. Where, at the conclusion of the investigation, the allegations that were investigated are unfounded, there shall be no record of the investigation in the Employee’s personnel file. Where the allegations are founded, the Employer may take disciplinary action.
Release and Discharge 11.1 The acceptance by the Designer of the last payment under the provisions of Article 6.5 or Article 12 in the event of termination of the Contract, shall in each instance, operate as and be a release to the Owner and the Authority and their employees and officers, from all claims of the Designer and its Subconsultants for payment for services performed and/or furnished, except for those written claims submitted by the Designer to the Owner with, or prior to, the last invoice.
Non-Discharge It is further agreed that the penalties described in this Settlement Agreement are non-dischargeable under United States Code, title 11, section 523(a)(7), which provides an exception from discharge for any debt to the extent such debt is for a fine, penalty, or forfeiture payable to and for the benefit of a governmental unit.
Defeasance and Discharge Upon the Company's exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called "Defeasance"). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, (2) the Company's obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have Section 1303 applied to such Securities.
No Discharge This Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any limitation, impairment or discharge for any reason (other than payment in full of the Guarantied Obligations), including without limitation the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (a) any failure to assert or enforce or agreement not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy with respect to the Guarantied Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guarantied Obligations, (b) any waiver or modification of, or any consent to departure from, any of the terms or provisions of the Credit Agreement, any of the other Loan Documents, the Lender Swap Agreements or any agreement or instrument executed pursuant thereto, or of any other guaranty or security for the Guarantied Obligations, (c) the Guarantied Obligations, or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect, (d) the application of payments received from any source to the payment of indebtedness other than the Guarantied Obligations, even though Guarantied Party or the other Beneficiaries, or any of them, might have elected to apply such payment to any part or all of the Guarantied Obligations, (e) any failure to perfect or continue perfection of a security interest in any collateral which secures any of the Guarantied Obligations, (f) any defenses, set-offs or counterclaims which Company may assert against Guarantied Party or any Beneficiary in respect of the Guarantied Obligations, including but not limited to failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury, and (g) any other act or thing or omission, or delay to do any other act or thing, which may or might in any manner or to any extent vary the risk of a Guarantor as an obligor in respect of the Guarantied Obligations.
Satisfaction and Discharge Defeasance 31 Section 8.1. Satisfaction and Discharge of Indenture..................................... 31 Section 8.2. Application of Trust Funds; Indemnification................................. 32 Section 8.3. Legal Defeasance of Securities of any Series................................ 32 Section 8.4. Covenant Defeasance......................................................... 34 Section 8.5. Repayment to Company........................................................ 35 ARTICLE IX.
