Controlling Principal definition

Controlling Principal means Jay Shidler and/or Clay W. Hamlin III, or any trusts established by sxxx Xxxxxxx for the xxxxxxx xx xxeir immediate family members if such Person is a trustee of such trusts and able to effectively control the property and business of the trusts.
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Controlling Principal as described in Section XIV(E) of the Development Agreement;
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Controlling Principal means Xxx Xxxxxxx and/or Xxxx X. Xxxxxx III, or any trusts established by such Persons for the benefit of their immediate family members if such Person is the trustee of such trusts and able to effectively control the property and business of the trusts.
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Examples of Controlling Principal in a sentence

  • All of Franchisee’s Principals not required to sign this Agreement as a Controlling Principal also must execute such covenants.

  • Neither Franchisee nor any Controlling Principal shall take any action that would prejudice or interfere with the validity of Franchisor’s rights with respect to the Marks.

  • For that reason, the Court need not consider under what circumstances a person or entity that is a Controlling Principal but a nonsignatory to the relevant contracts might nevertheless be bound to the mandatory arbitration provision contained within those contracts.2. Principles of Agency Black Rock also argues that Plaintiffs are bound to the arbitration agreement under common law principles of agency.

  • Nor does Section 16.2 itself contain any provision stating it survives termination.In summary, there is no evidence that Black Rock timely designated any Controlling Principal, as required under Section 16.2. Under the plain text of the franchise agreements, therefore, Plaintiffs are not Controlling Principals.

  • Upon the permanent disability of Franchisee (if Franchisee is a natural person) or any Controlling Principal who is a natural person, Franchisor may, in its sole discretion, require such interest to be transferred to a third party in accordance with the conditions described in this Article within six (6) months after notice to Franchisee.

  • Upon the death or claim of permanent disability of Franchisee or any Controlling Principal, Franchisee or a representative of Franchisee must notify Franchisor of such death or claim of permanent disability within five (5) days of its occurrence.

  • Accordingly, neither Franchisee nor any Controlling Principal, nor any successor or assign of Franchisee or any Controlling Principal, shall sell, assign, transfer, convey, give away, pledge, mortgage or otherwise encumber any direct or indirect interest in this Agreement, in the Restaurant or in Franchisee without the prior written consent of Franchisor.

  • Upon the death of Franchisee (if Franchisee is a natural person) or any Controlling Principal who is a natural person (the “Deceased”), the executor, administrator or other personal representative of the Deceased shall transfer such interest to a third party in accordance with the conditions described in this Article within twelve (12) months after the death.

  • If Franchisee wishes to transfer all or part of its interest in the Restaurant or this Agreement or if a Controlling Principal wishes to transfer any ownership interest in Franchisee, pursuant to any bona fide offer received from a third party to purchase such interest, then such proposed seller shall promptly notify Franchisor in writing of each such offer, and shall provide such information and documentation relating to the offer as Franchisor may require.

  • If the parties cannot agree on a single arbitrator, Franchisor and Franchisee (or Controlling Principal, as applicable) shall each select one arbitrator.


More Definitions of Controlling Principal

Controlling Principal means any Principal who has been designated by Franchisee and approved by Franchisor as Franchisee’s Controlling Principal.
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Controlling Principal. – means and includes, collectively and individually, any Franchisee’s Principals who has been designated by Franchisor as a Controlling Principal.
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Controlling Principal. , in respect of a builder, means a person or combination of persons that either alone or together have a direct or indirect controlling interest in the builder. (“commettant contrôlant”) O. Reg. 321/03, s. 1; O. Reg. 33/05, s. 1 (1).
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Controlling Principal. – means the individual who has control or a controlling interest (control or controlling interest shall mean the power to influence the management decisions of the specified person and shall in any case be deemed to exist where such person holds twenty percent (20%) or more of the total ownership interest in the Franchisee), serves on any board of directors or comparable body of the Franchisee, or acts as an officer, general partner or manager thereof.
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Related to Controlling Principal

  • 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.

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

  • Outstanding Principal Balance As of the time of any determination, the principal balance of a Mortgage Loan remaining to be paid by the Mortgagor, or, in the case of an REO Property, the principal balance of the related Mortgage Loan remaining to be paid by the Mortgagor at the time such property was acquired by the Trust Fund less any Net Liquidation Proceeds with respect thereto to the extent applied to principal.

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with those used in preparing the financial statements referred to in Section 5.5.

  • 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.

  • Liquidation Principal The principal portion of Liquidation Proceeds received with respect to each Mortgage Loan which became a Liquidated Mortgage Loan (but not in excess of the principal balance thereof) during the Prior Period.

  • 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).

  • Outstanding Principal Amount means, in respect of a Covered Bond, its principal amount less, in respect of any Instalment Covered Bond, any principal amount on which interest shall have ceased to accrue in accordance with Condition 5.06 or otherwise as indicated in the Final Terms.

  • Aggregate Outstanding Principal Balance means, as of any date of determination, the sum of the Outstanding Principal Balances of each Class outstanding on such date.

  • 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.

  • Periodic Principal means, with respect to any Payment Date, the excess, if any, of the Outstanding Amount of Storm Recovery Bonds over the outstanding principal balance specified for such Payment Date on the Expected Sinking Fund Schedule.

  • Class A Monthly Principal shall have the meaning specified in Section 4.03(a).

  • Cumulative Outstanding Principal Amount means the aggregate principal amount of each series of Bonds issued and Outstanding from time to time in accordance with the provisions of this Ordinance, as reflected in the records maintained by the Registrar as provided in this Ordinance.

  • Collateral Monthly Principal means the monthly principal distributable in respect of the Collateral Interest as calculated in accordance with subsection 4.07(c).

  • Preliminary Principal Loss Amount means, for a Payment Date, an amount equal to the Principal Loss Amount computed without giving effect to clause (d) of the definition of Principal Loss Amount.

  • Pool Stated Principal Balance As to any Distribution Date, the aggregate of the Stated Principal Balances of the Mortgage Loans for such Distribution Date that were Outstanding Mortgage Loans on the Due Date in the related Due Period.

  • Recovery Principal With respect to any Payment Date, the sum of (a) the excess, if any, of the Credit Event Amount for such Payment Date, over the Tranche Write-down Amount for such Payment Date; and (b) the Tranche Write-up Amount for such Payment Date.

  • Class B Monthly Principal shall have the meaning specified in Section 4.03(b).

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Monthly Principal is defined in Section 4.1(d).

  • Assistant principal means a school administrator

  • Current Principal Amount With respect to any Certificate (other than an Interest Only Certificate) as of any Distribution Date, the initial principal amount of such Certificate, and reduced by (i) all amounts distributed on previous Distribution Dates on such Certificate with respect to principal, (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such Certificate, taking account of the Loss Allocation Limitation and (iii) in the case of a Subordinate Certificate, such Certificate's pro rata share, if any, of the applicable Subordinate Certificate Writedown Amount for previous Distribution Dates. With respect to any Class of Certificates (other than an Interest Only Certificate), the Current Principal Amount thereof will equal the sum of the Current Principal Amounts of all Certificates in such Class. Notwithstanding the foregoing, solely for purposes of giving consents, directions, waivers, approvals, requests and notices, the Class R-I, Class R-II and Class R-III Certificates after the Distribution Date on which they each receive the distribution of the last dollar of their respective original principal amount shall be deemed to have Current Principal Amounts equal to their respective Current Principal Amounts on the day immediately preceding such Distribution Date.

  • Class A Principal Percentage means, with respect to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class A Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and denominator of which is the Initial Invested Amount.

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.