Application of Principles Sample Clauses

Application of Principles. 4.1.1 The Parties agree to give effect to the following principles which underpin the implementation of the RRPGP Extension Sub-programmes:
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Application of Principles. Students will understand physical, chemical, environmental, mechanical, and electrical principles used in transportation. They will use basic mechanical principles to analyze and explain the function possibilities and design of vehicle and energy systems.
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Application of Principles. 3.2.3(a) These principles will apply consistently across all of the Company's operations.
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Application of Principles. 1. There shall be an annual review of the allocation of hours, if applicable.
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Application of Principles. The application of these principles is best illustrated by an example. In the hypothetical action P v S and NS, S settles with P for $500,000 while NS does not settle. The action proceeds to trial where P is successful and the total damages are assessed at $1,000,000. What is the effect of this decision, under a Xxxx Xxxxxx Agreement or a Pierringer Agreement where: a) liability is apportioned 50/50? b) liability is apportioned 80% to S and 20% to NS? c) liability is apportioned 20% to S and 80% to NS? The main difference between a Xxxx Xxxxxx Agreement and a Pierringer Agreement is that in a Xxxx Xxxxxx Agreement the liability of the settling defendant is capped; in a Pierringer Agreement it is fixed. This difference is illustrated by the following tables. They show the net amounts7 paid and received by the parties in our hypothetical $1000, 000 damage claim. Table 1 – Xxxx Xxxxxx Agreement Apportionment 50/50 80% S / 20% NS 80% NS / 20% S Plaintiff Receives $750,000 $600,000 $900,000 S Pays $250,000 $400,000 $100,000 NS Pays $500,000 $200,000 $800,000 Table 2 – Pierringer Agreement Apportionment 50/50 80% S / 20% NS 80% NS / 20% S Plaintiff Receives $1000,000 $700,000 $1,000,000 S Pays $500,000 $500,000 $500,000 NS Pays $500,000 $200,000 $500,0008 7 These net figures represent the end result and not necessarily the actual flow of funds. For example, under the Xxxx Xxxxxx 50/50 scenario, S would pay $500,000 initially but would recover $250,000 when the liability of NS was determined to be 50%. This leaves S with a net payout of $250,000. 8 If S had not settled, the 80/20 apportionment would have required NS to pay $800,000. However, the $500,000 payment made by S is treated as a partial recovery of P’s loss. To avoid double recovery by P the amount payable by NS is reduced accordingly. See Xxxxxx v Xxxxxxx and Xxxxxxxx, 2009 ONCA 383, par. 55. In all settlements, an assessment of the likely outcome of a trial is an important part of the decision to settle. In traditional settlements however, the litigation ends and the parties never know how close their assessment was. In Xxxx Xxxxxx and Xxxxxxxxxx settlements on the other hand, S gets the ultimate feedback on the wisdom of its settlement decision. The litigation proceeds between P and NS; and, apportionment of liability at trial includes a determination of the portion of the liability attributed to S. Where S settles for less than its proportionate share determined at trial, as the above tables illustra...
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Related to Application of Principles

  • Statement of Principles The Employer and the Union agree that there shall be no discrimination by the Employer or the Union against employees because of race, color, creed, religion, national origin, sex, age, or marital status. In addition, consistent with the other provisions of this Agreement, there shall be no unlawful discrimination against employees, as prohibited by the Rehabili- tation Act of 1973 or the Vietnam Era Veterans’ Readjustment Assistance Act of 1974.

  • Statement of Principle The parties acknowledge the following provisions are to protect the rights of employees during pregnancy and on their return to employment following parental leave.

  • Protection of Privacy Act You acknowledge that all or part of the information you are required to keep, may be information deemed to be under the control of the LDB and may be subject to the provisions of Freedom of Information and Protection of Privacy Act if a request is made to the LDB for such information.

  • Application of Proceeds The Collateral Agent shall apply the proceeds of any collection, sale, foreclosure or other realization upon any Collateral, including any Collateral consisting of cash, as follows: FIRST, to the payment of all costs and expenses incurred by the Administrative Agent or the Collateral Agent (in their respective capacities as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent or the Administrative Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among the Administrative Agent, any Swingline Lender and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution); THIRD, to the payment in full of all other Obligations (the amounts so applied to be distributed (subject to the first proviso to Section 3.01 and clause (B) of the first proviso to Section 4.01(a)) among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

  • Basic Principles The Electrical Contractor and the Union have a common and sympathetic interest in the Electrical Industry. Therefore, a working system and harmonious relations are necessary to improve the relationship between the Employer, the Union and the Public. Progress in industry demands a mutuality of confidence between the Employer and the Union. All will benefit by continuous peace and by adjusting any differences by rational common-sense methods.

  • Application of Laws 1. While entering, within, or leaving the territory of one Party, its laws and regulations relating to the operation and navigation of aircraft shall be complied with by the other Party’s airlines.

  • Application of other Rules If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to the present Agreement contain rules, whether general or specific, entitling investments by investors of the other Contracting Party to a treatment more favourable than is provided for by the present Agreement, such rules shall to the extent that they are more favourable prevail over the present Agreement.

  • Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties (a) Unless otherwise expressly provided in this Agreement or any Group Member Agreement, whenever a potential conflict of interest exists or arises between the General Partner or any of its Affiliates, or any member of the Board of Directors, on the one hand, and the Partnership, any Group Member or any Partner, on the other, any resolution or course of action in respect of such conflict of interest shall be permitted and deemed approved by all Partners, and shall not constitute a breach of this Agreement, of any Group Member Agreement, of any agreement contemplated herein or therein, or of any duty stated or implied by law or equity, if the resolution or course of action in respect of such conflict of interest is (i) approved by Special Approval, (ii) approved by the vote of a majority of the Outstanding Common Units (excluding Common Units owned by the General Partner and its Affiliates), (iii) on terms no less favorable to the Partnership than those generally being provided to or available from unrelated third parties or (iv) fair and reasonable to the Partnership, taking into account the totality of the relationships between the parties involved (including other transactions that may be particularly favorable or advantageous to the Partnership). The General Partner and the Board of Directors may but shall not be required in connection with the resolution of such conflict of interest to seek Special Approval of such resolution, and the General Partner or the Board of Directors, as the case may be, may also adopt a resolution or course of action that has not received Special Approval. If Special Approval is sought, then, notwithstanding any other provision of this Agreement or law that would otherwise apply, (x) the Conflicts Committee will be authorized in connection with its determination of whether to provide Special Approval to consider any and all factors as it determines to be relevant or appropriate under the circumstances and (y) it will be presumed that, in making its decision, the Conflicts Committee acted in good faith, and if Special Approval is not sought and the Board of Directors determines that the resolution or course of action taken with respect to a conflict of interest satisfies either of the standards set forth in clauses (iii) or (iv) above, then it shall be presumed that, in making its decision the Board of Directors, acted in good faith, and, in either case, in any proceeding brought by any Limited Partner or by or on behalf of such Limited Partner or any other Limited Partner or the Partnership challenging such approval, the Person bringing or prosecuting such proceeding shall have the burden of overcoming such presumption. Notwithstanding anything to the contrary in this Agreement or any duty otherwise existing at law or equity, the existence of the conflicts of interest described in the Registration Statement are hereby approved by all Partners and shall not constitute a breach of this Agreement or of any duty hereunder or existing at law, in equity or otherwise.

  • Application of clause (1) Clause 11 applies if the Buyer, Seller and each Financial Institution involved in the transaction agree to an Electronic Settlement using the same ELNO System and overrides any other provision of this contract to the extent of any inconsistency.

  • Application of Agreement 4.1 This Agreement applies to:

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