Common use of Rights and Obligations of the Principal Clause in Contracts

Rights and Obligations of the Principal. 3.2.1 The Principal is obligated to promptly accept the Agent's reports, all the documents provided thereby and everything performed thereby in accordance with the Agreement. The Parties establish that the Principal's acceptance of the Preliminary Report shall not constitute any direct or indirect 4 <PAGE> approval, from the part of the Principal, in respect of the due performance by the Agent of the rules contained in clauses 2.2 and 4.2 hereof concerning the ratio between the amount of the Agent's expenses incurred upon the performance of the Principal's order and the amount of the Principal's obligations on the payment of the Principal's Debt.

Rights and Obligations of the Principal. 3.2.1 The Principal is obligated to promptly accept the Agent's reports, all the documents provided thereby and everything performed thereby in accordance with the Agreement. The Parties establish that the Principal's acceptance of the Preliminary Report shall not constitute any direct or indirect 4 <PAGE> approval, from the part of the Principal, in respect of the due performance by the Agent of the rules contained in clauses 2.2 and 4.2 hereof concerning the ratio between the amount of the Agent's expenses incurred upon the performance of the Principal's order and the amount of the Principal's obligations on the payment of the Principal's Debt.