Words of Obligation and Discretion Sample Clauses

Words of Obligation and Discretion. Unless otherwise specifically provided in this Agreement or by the context in which used, the word shall is used to impose a duty, to command, to direct, or to require. Terms such as may, is authorized to, is permitted to, is allowed to, has the right to, or any variation or other words of discretion are used to allow, to permit, or to provide the discretion to choose what should be done in a particular situation, without any other requirement. Unless the decision of another party is expressly required by this Agreement, words of permission give the decision-maker the sole and absolute discretion to make the decision required in the context.
AutoNDA by SimpleDocs

Related to Words of Obligation and Discretion

  • 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 (a) The Employer may discharge, suspend, demote or otherwise discipline Employees who have successfully completed their probationary period for just cause. i) The Employer may discharge, suspend, demote or otherwise discipline Employees who have not successfully completed their probationary period for any reason satisfactory to the Employer. ii) The discharge, suspension, demotion or other disciplining of a probationary Employee shall not be considered a difference arising between the probationary Employee and the Employer or between the Parties and cannot be the subject matter of a grievance or referred to arbitration. 8.02 The Employer agrees to provide written reasons within seven (7) calendar days to the affected Employee in the case of discipline, discharge or suspension and further agrees that it will not suspend, discharge or otherwise discipline an Employee who has completed her or his probationary period, without just cause. 8.03 A copy of any completed evaluation which is to be placed in an Employee's file shall be first reviewed with the Employee. The Employee shall initial such evaluation as having been read and shall have the opportunity to add her or his views to such evaluation prior to it being placed in her or his file. Each Employee shall have reasonable access to all her or his files for the purpose of reviewing their contents in the presence of her or his supervisor. A copy of the evaluation will be provided to the Employee at her or his request. A request by an Employee for a copy of other documents in her or his file will not be unreasonably denied. No document shall be used against an Employee where it has not been brought to her or his attention in a timely manner. 8.04 At the time formal discipline is imposed, an Employee is entitled to be represented by her or his Union representative. In the case of suspension or discharge, the Employer shall notify the Employee of this right in advance. The Employer also agrees, as a good labour relations practice, in most circumstances it will also notify the local Union. The Employer agrees that where an Employee is required to attend a meeting with the Employer that may lead to disciplinary action, as a good labour relations practice, it will inform the Employee of the purpose of the meeting and her or his right to Union representation. All investigations related to an Employee’s employment will be completed in a timely manner. 8.05 Any letter of reprimand, suspension or other sanction will be removed from the record of an Employee fifteen (15) months following the receipt of such letter, suspension or other sanction provided that such Employee has not incurred any further discipline during that period.

  • 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.

  • Preservation and Disclosure of Lists The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most recent list furnished to it as provided in Section 5.01 or maintained by the Trustee in its capacity as Note Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!