Pro rata contract language

If the case does go to court no offer or facts stated to be without prejudice can be disclosed as evidence. It is used to ensure that there are no hidden details that could affect the deal. The parties acknowledge that the limitations set forth in this Section are integral to the amount of consideration. The Promissory Notes, and the claims of the Secured Parties in respect of the indebtedness, obligations and liabilities of Debtor thereunder, shall be pari passu in right of payment with respect to each other. Your browser does not allow automatic adding of bookmarks. Can mean that breaking some terms in a long-running contract results in the contract having been broken from the start. View our privacy policy , cookie policy and supported browsers.

This allows the debtor to trade in the assets freely, but if the debtor fails to make repayments then the floating charge becomes a fixed charge known as crystallisation over all the stock at that time. Don't forget that England and Scotland have different legal codes, and this may need to be specified. The first is where a party refuses to comply with a contract and this amounts to a breach of contract. Real Estate Investing. If you are the boss, or accountable for a contractual outcome, you must understand contracts and their meaning. Assume there are only four shareholders who hold 50, 25, 15 and 10 shares, respectively. Now usually only applied to insurance contracts where the underwriters are those who agree to bear all or part of the risk in return for the premium payments.

Secure Operating Systems. In the event that NetSuite is unable to substantially restore such functionality, Customer shall have the right to terminate the Agreement and receive a pro-rata refund of the license fees paid under the Agreement for use of the Service which was paid for by Customer but not yet furnished by NetSuite as of the date of such termination. Assume there are only four shareholders who hold 50, 25, 15 and 10 shares, respectively. Is it permissible for an employer to offer a pension scheme only to full-time employees? Download PDF.

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Topics A-Z. Pro-Rata Portion" is the amount determined by the formula: the compensation payment received by Employee pursuant to section 4 b hereof, multiplied by the Pro-Rata Percentage. Secure Operating Systems. This Agreement shall be governed in accordance with the laws of the State of California and any controlling U. Secure Data Center. So any agreement or statements will bind the company they make as if a properly appointed director made them.
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The Company may revoke credit, and may impose finance fees for any account that is more than thirty days past due. Compare Accounts. Also known as a non-disclosure agreement. When you are trying to decide how to divide up the profits you can use a pro rata formula to get a good answer. Not all shares can be redeemed, only those stated to be redeemable when they were issued.
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The Client will also be charged a prorated partial month charge according to the service plan selected for the number of days remaining in the calendar month from the time of initiation of service until the end of the month in which service is initiated. Encrypted User Authentication. Good practice Case studies Good practice manual. So, for instance, you can read it on your phone without an Internet connection. For example, most car manufacturers give franchises to sell their cars to local garages, who then operate using the manufacturer's brand.
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About this resource Status This resource is kept under review and updated in line with developments. Model policies and documents Policy for operating part-time working Part-time worker's bank holidays contract clause Part-time worker's benefits contract clause Part-time worker's commencement of employment contract clause Part-time worker's company cars contract clause Part-time worker's holiday contract clause Part-time worker's hours of work contract clause Part-time worker's job title and duties contract clause Part-time worker's overtime contract clause Part-time worker's pension contract clause Part-time worker's remuneration contract clause. Therefore, it is important that you ask your solicitor or adviser to explain any language or terminology that you do not understand. When the bondholder sells the bond before the next coupon date, he or she is still entitled to the interest that accrues up until the time the bond is sold. For this purpose, 1 "Common Stock" means all capital stock of the Company, however designated, that participates in any liquidation or dissolution of the Company without limit as to per-share amount; 2 any sale of securities or other rights that are convertible into, exercisable for or exchangeable for Common Stock "Convertible Securities" shall be treated as a sale of the underlying Common Stock; and 3 the Pro Rata Portion shall be calculated on the assumption that all Convertible Securities held by the Stockholder or the Purchaser shall have been converted, exercised or exchanged.
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The essential purpose of this provision is to limit the potential liability of the parties arising from this Agreement. This Agreement does not create any joint venture, partnership, agency, or employment relationship between the parties, although NetSuite reserves the right to name Customer as a user of the Service. Any documents delivered to this address are considered to be legally served on the company. Pro rata calculations are also used to determine the amount of interest that will be earned on an investment. This creates the contract. Accrued interest is the total interest that has accumulated on a bond since its last coupon payment. A company can be a consumer for contracts not related to its business - especially for goods or services it buys for its employees.
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