Overriding Principle definition

Overriding Principle shall have the meaning set forth in Section 2.06(a) of this Agreement.
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Overriding Principle. Any dispute arising out of or relating to this Contract shall be resolved exclusively by the procedures set out in this Article 20. First, there shall be friendly discussions between Shareholders based on the basis that the Shareholders have agreed to establish the Company in order to generate the maximum profit for every party.
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Examples of Overriding Principle in a sentence

  • Without prejudice to the Overriding Principle, if the Borrower or the Target grants security over any debt owed to it by any other member of the Group it will be free to deal with, amend, waive or terminate those debts in the course of its business until the occurrence of a Declared Default which is continuing.

  • The Borrower shall not be required to grant Security over any of its assets except, subject to the other terms of these Agreed Security Principles (including the Overriding Principle), as set out in this Agreement.

  • TRW shall prepare the Consolidated Return for the taxable year that includes the Distribution Date and shall be entitled to amend any Consolidated Return for any prior taxable year in each case as deemed necessary in its sole and absolute discretion in order for TRW to realize the Tax Benefits resulting from the Transactions in accordance with the Overriding Principle.

  • All allocations of Tax Assets shall be made consistent with the Overriding Principle unless otherwise prohibited by controlling legal authority.

  • Without prejudice to the Overriding Principle, a member of the Group may grant security over its material insurance policies (excluding any third party liability or public liability insurance and any directors and officers insurance) in respect of which claims thereunder may be mandatorily prepaid, provided that the relevant insurance policy allows security to be so granted.

  • Without prejudice to the Overriding Principle, if the Issuer or a Guarantor grants security over its material fixed assets it will be free to deal with those assets in the course of its business until the occurrence of a Declared Default which is continuing.

  • Without prejudice to the Overriding Principle, if the Issuer or any other Guarantor grants security over its material fixed assets it will be free to deal with those assets in the course of its business until the occurrence of a Declared Default which is continuing.

  • Without prejudice to the Overriding Principle, if the Borrower or any other Guarantor grants security over its material fixed assets it will be free to deal with those assets in the course of its business until the occurrence of a Declared Default which is continuing.

  • The Developer shall use its best endeavours to procure that the Company promotes the Overriding Principle and carries on its business in order to ensure compliance with the terms of the Overriding Principle.