Principal Liability Sample Clauses

Principal Liability. Any signatory for a proprietary company Customer will be and remain personally responsible for the due performance of the Customer’s obligations as if the signatory was the Customer. If required by the Supplier, the signatory will procure the execution by all Customer company directors of a guarantee to be prepared by or on behalf of the Supplier.
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Principal Liability. That to give full effect to the provisions of this Guarantee and Indemnity the Guarantors hereby waive all rights inconsistent with the provisions of this Guarantee and Indemnity and which the Guarantors might otherwise as surety be entitled to claim and enforce, and the Guarantors declare that the Bank shall be at liberty to act as though the Guarantors were the principal debtors for all sums guaranteed by the Guarantors as aforesaid;
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Principal Liability. Each Principal and the respective Shareholder that such Principal controls, from time to time, shall be jointly and severally liable under this Agreement.
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Principal Liability. 14 5.13 Amendment............................................................................... 15
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Principal Liability. Each Principal agrees to be liable for the payment and performance by himself and his Authorized Users, and any Trading Party Controlled solely by him, and its Authorized Users, of their obligations hereunder. Each Principal further agrees to be liable for the payment of his Pro Rata Share of any Minimum Fees owed by any Trading Parties other than Principals under this Agreement. In addition, any other Person who becomes an equity owner in any Trading Party, other than as an owner of a Subordinate Interest, (such Person, a "New Equity Owner") shall become a party to this Agreement for the purposes of agreeing to be responsible for such Person's Pro Rata Share, if any, of any Minimum Fees owed by such Trading Party under this Agreement and shall place a corresponding amount of property into the Execution Escrow Account established pursuant to the Escrow Agreement (it being understood that each Principal shall remain liable to PSC for his Pro Rata Share of the Minimum Fees). For the purposes of determining liability of the Principals to PSC, the term "Pro Rata Share" shall mean: Burch 17.6470%, Jamail 41.1765% and Kershner 41.1765%. For the purpxxxx of determining the amounts each Xxx Xxxity Owner shall contribute to the Execution Escrow Account (which contributed amounts shall be the respective amounts for which each New Equity Owner is liable to PSC in respect of the Minimum Fees) and the relative amounts each such New Equity Owner shall owe to the Principals with respect to any Minimum Fees, such New Equity Owner's Pro Rata Share shall equal such New Equity Owner's equity interest (other than any Subordinate Interest) in the Trading Party. For the purposes of this Section, the term "Subordinate Interest" shall mean an equity interest that is designated as a "Class B" or subordinate interest or is otherwise subordinate to the equity interest (other than a general partnership or similar equity interest) having the greatest relative rights and privileges. No Principal shall have any liability under this Agreement except as specifically provided in this Section. No Person whose only equity interest in a Trading Party is a Subordinate Interest shall be required to become a party to this Agreement or to incur any liability hereunder.
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Principal Liability that to give full effect to the provisions of this Guarantee and Indemnity: -
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Principal Liability. Without limiting the other limitations on liability set forth in this Article IX, Xxx Xxxx shall not be liable for more than 70% of any indemnifiable Loss that may be recovered by the Purchaser Indemnified Parties, and Xxxxx Xxxxx shall not be liable for more than 30% of any indemnifiable Loss that may be recovered by the Purchaser Indemnified Parties.
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Related to Principal Liability

  • Individual Liability The obligations of each Company/Trust, including those imposed hereby, are not personally binding upon, nor shall resort be had to the private property of, any of the Directors/Trustees, shareholders, officers, employees or agents of the Company/Trust individually, but are binding only upon the assets and property of the Company/Trust. Any and all personal liability, either at common law or in equity, or by statute or constitution, of every such Director/Trustee, shareholder, officer, employee or agent for any breach by the Company/Trust of any agreement, representation or warranty hereunder is hereby expressly waived as a condition of and in consideration for the execution of this Agreement by the Company/Trust.

  • Legal Liability For teachers having any legal proceeding brought against them for libel or slander in respect of any statements relating to the employment, suspension or dismissal of any person by the Board, published at a meeting of the Board or a committee thereof, or for assault in respect of disciplinary action taken in the course of duty, the Board shall pay the legal costs or any part thereof incurred by such teachers in successfully defending such legal proceeding as referred to above. If found guilty, the teacher shall bear said legal expenses.

  • Total Liability Subject to section 9 and section 10, LogRhythm’s total cumulative liability in connection with this Agreement, the Products, Cloud Services and any related services, whether in contract or tort (including negligence) or otherwise, will not exceed a sum equal to 1.25 times the amount of fees (including Support Services Fees (if any)) paid or payable by Customer to Authorized Reseller during the twelve (12) month period preceding the events giving rise to such liability or five thousand British pounds (GBP£5,000), whichever is the higher.

  • Criminal Liability If the Principal/Owner obtains knowledge of conduct of a Bidder or Contractor, or of an employee or a representative or an associate of a Bidder or Contractor which constitutes corruption within the meaning of IPC Act, or if the Principal/Owner has substantive suspicion in this regard, the Principal/Owner will inform the same to law enforcing agencies for further investigation.

  • Excess/Umbrella Liability Excess/umbrella liability insurance may be included to meet minimum requirements. Umbrella coverage must indicate the existing underlying insurance coverage.

  • Civil Liability 47.01 If any civil action is brought against any employee covered by this Agreement for an alleged tort committed by the employee in the performance of their assigned duties, (a “workplace claim”) then:

  • Environmental Liability Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect:

  • Excess Liability Developer will purchase and maintain excess liability insurance in an amount not less than $5,000,000.

  • Umbrella Liability The Umbrella / Excess Liability must be at least as broad as the underlying general liability and automobile liability policies. Limits – Each Occurrence $1,000,000 General Aggregate $1,000,000

  • No Additional Liability Nothing in this Coordination Agreement shall impose any liability or obligation on the part of any party to this Coordination Agreement to make any payment or disbursement in addition to any liability or obligation such party has under the Program Documents, except to the extent that a party has actually received funds which it is obligated to disburse pursuant to this Coordination Agreement.

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