Remaining Principals definition

Remaining Principals has the meaning assigned to such term in Section 7.4(a).
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Remaining Principals means each of Xxxx Xxxxx and Xxxxxxxxxx Xxxxxxxxx.
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Examples of Remaining Principals in a sentence

  • For the receipt of any Accounts Receivable or the payment of any accounts payable of the Company arising on or after the Closing Date, the Company shall establish new bank accounts (the “New Accounts”), for which Buyer shall appoint signatories and shall determine access in its sole discretion, with the Remaining Principals having read-only access to the New Accounts.

  • From and after the Closing, the Remaining Principals shall continue to be signatories for and retain full access to the bank accounts of the Company for the receipt of any Accounts Receivable arising from the business of the Company prior to the Closing Date and payment of accounts payable arising from the business of the Company prior to the Closing Date (the “Pre-Closing Accounts”).

  • The Employment Agreements shall have a two-year term and provide for other terms customary for employment arrangements of this type; the final terms of which will be mutually agreed upon by both the Buyer and the Remaining Principals.

  • Under the Employment Agreements, each of the Remaining Principals shall serve as an Executive Vice President of the Company and each shall be entitled to receive an annual base salary equal to $150,000.

  • Notwithstanding the foregoing, in the event the Remaining Principals do not elect to purchase the entire Interest of the Deceased Principal, the Company shall purchase the share of the Interest of the Deceased Principal not purchased by the Remaining Principals.

  • Upon a Deceased Principal’s death, the Interest of the Deceased Principal shall be deemed offered to the Company, and then to the Remaining Principals, in that order.

  • If the Company does not exercise its option, the Remaining Principals may exercise their respective options to purchase the Interest of the Disabled Principal by notifying the Disabled Principal or his or her representative in writing of their exercise thereof within one hundred fifty (150) days after the date the Company is made aware of the Disabled Principal’s Incapacity (but not prior to a redemption decision being made by the Company as provided above).

  • Notwithstanding the foregoing, in the event the Remaining Principals do not elect to purchase the entire Interest of the Disabled Principal, the Company shall purchase the share of the Interest of the Disabled Principal not purchased by the Remaining Principals.

Related to Remaining Principals

  • Building principal means a building principal subject to annual performance evaluation review under the provisions of Education Law Section 3012-c.

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Transferee’s Principals means collectively, (A) Transferee’s managing members, general partners or principal shareholders and (B) such other members, partners or shareholders which directly or indirectly shall own a fifty-one percent (51%) or greater economic and voting interest in Transferee.

  • Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.

  • Principals means the head teachers of the Academies (and “Principal” means any one of these head teachers);

  • Outstanding Principal means, on any given date and in relation to any Receivable, the sum of all (i) Principal Instalments due but unpaid at such date; and (ii) the Principal Instalments not yet due at such date.

  • Infested area means any of the following:

  • Purchasing Manager means the person duly authorized to enter into and administer Contracts and make written determinations with respect to the Contract or his or her designee.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Contract Owner means the holder of interests in a variable annuity or variable life insurance contract issued by the Company.

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • Accepted means that in the County’s reasonable opinion, substantial compliance with the requirements of this Contract has been achieved.

  • U.S. GAAP means United States generally accepted accounting principles consistently applied.

  • Primary state of residence means the state of a person’s declared fixed permanent and principal home for legal purposes; domicile.

  • South Caucasus/Central and South Asian (SC/CASA) state means Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, or Uzbekistan.

  • Commercial real estate means real estate or an interest in real estate that is not any of the following:

  • South Caucasus/Central and South Asian (SC/CASA) state means Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, or Uzbekistan.

  • AT&T WEST REGION 2-STATE means the AT&T owned ILEC(s) doing business in California and Nevada.

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Reasonable and prudent parent standard means the

  • MacBride Principles means those principles relating to nondiscrimination in employment and freedom of workplace opportunity which require employers doing business in Northern Ireland to:

  • Federated means Federated Investors, Inc. and any of its subsidiaries as the context may require.

  • Current Financials means, at any time, the consolidated Financial Statements of the Companies most recently delivered to Administrative Agent under Section 7.1(a) or 7.1(b), as the case may be.