Underlying Principle Sample Clauses

The 'Underlying Principle' clause defines the fundamental concept or rationale that guides the interpretation and application of the agreement. It typically outlines the core values, intentions, or objectives that the parties aim to achieve through the contract, such as fairness, mutual benefit, or compliance with certain standards. By establishing this foundational context, the clause helps ensure that the contract is interpreted consistently and that any ambiguities are resolved in line with the parties' original intentions, thereby promoting clarity and reducing the risk of disputes.
Underlying Principle a. The Board and the Association agree that increased length of service in the employment of the Board entitles teachers to commensurate increase in the security of teaching employment. b. When for bona fide educational or budgetary reasons the Board determines that it is necessary to terminate the appointment of any teachers, the teachers to be retained on the teaching staff of the district shall be those who have the greatest seniority provided that they possess the necessary qualifications for the positions available.
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Underlying Principle. This Article applies only to employees on a continuing or probationary appointment. The Board and the Association agree that increased length of service in the employment of the Board entitles all employees covered by this agreement to a commensurate increase in security of employment. When the Board determines that it is necessary to terminate the appointment of any employee, the employees to be retained on the teaching staff of the District shall be those who have the greatest seniority, provided that they possess the necessary qualifications for the positions available.
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Underlying Principle. The senior-most employees who are qualified will be awarded the position for which they have bid. Therefore the process must begin and be completed by each employee in order of seniority until a successful candidate or candidates is/are identified. Circumstances may require that the first part of the selection process (Candidate Reviews) may be done concurrent with more than one employee, but they are to be independent of each other and the senior employee(s) receive(s) preference. There may be rare occasions when the second part (Practical Testing) may be done for more than one candidate at a time, with the same conditions. However, the final part (Trial & Orientation) shall not be performed by more than one candidate at a time, unless there are multiple vacancies, when the corresponding number of candidates may be simultaneously assessed. 1. CANDIDATE REVIEW -review of the Human Resources file -establishment of required qualifications -Supervisor’s assessment of prior work performance The use of the Job Description will be used to define the essential duties required, and outline the desired experience
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Underlying Principle. The senior-most employees who are qualified will be awarded the position for which they have bid. Therefore the process must begin and be completed by each employee in order of seniority until a successful candidate is identified. NOTE: Circumstances may require that the first part of the selection process (Candidate Reviews) may be done concurrent with more than one employee - they are to be independent of each other and the senior employee receives preference. There may be rare occasions when the second part (Practical Testing) may be done for more than one candidate at a time, with the same conditions. However, under no circumstances will the final part (Trial & Orientation) be performed by more than one candidate at a time.
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Related to Underlying Principle

  • Operating Principles The operations of the Bank shall be conducted in accordance with the principles set out below. 1. The Bank shall be guided by sound banking principles in its operations. 2. The operations of the Bank shall provide principally for the financing of specific projects or specific investment programs, for equity investment, and for technical assistance in accordance with Article 15. 3. The Bank shall not finance any undertaking in the territory of a member if that member objects to such financing. 4. The Bank shall ensure that each of its operations complies with the Bank’s operational and financial policies, including without limitation, policies addressing environmental and social impacts. 5. In considering an application for financing, the Bank shall pay due regard to the ability of the recipient to obtain financing or facilities elsewhere on terms and conditions that the Bank considers reasonable for the recipient, taking into account all pertinent factors. 6. In providing or guaranteeing financing, the Bank shall pay due regard to the prospects that the recipient and guarantor, if any, will be in a position to meet their obligations under the financing contract. 7. In providing or guaranteeing financing, the financial terms, such as rate of interest and other charges and the schedule for repayment of principal shall be such as are, in the opinion of the Bank, appropriate for the financing concerned and the risk to the Bank. 8. The Bank shall place no restriction upon the procurement of goods and services from any country from the proceeds of any financing undertaken in the ordinary or special operations of the Bank. 9. The Bank shall take the necessary measures to ensure that the proceeds of any financing provided, guaranteed or participated in by the Bank are used only for the purposes for which the financing was granted and with due attention to considerations of economy and efficiency. 10. The Bank shall pay due regard to the desirability of avoiding a disproportionate amount of its resources being used for the benefit of any member. 11. The Bank shall seek to maintain reasonable diversification in its investments in equity capital. In its equity investments, the Bank shall not assume responsibility for managing any entity or enterprise in which it has an investment and shall not seek a controlling interest in the entity or enterprise concerned, except where necessary to safeguard the investment of the Bank.

  • Governing Principles 1. The implementation of this Memorandum of Understanding shall in all aspects be governed by the Regulation and subsequent amendments thereof. 2. The objectives of the EEA Financial Mechanism 2014-2021 shall be pursued in the framework of close co-operation between the Donor States and the Beneficiary State. The Parties agree to apply the highest degree of transparency, accountability and cost efficiency as well as the principles of good governance, partnership and multi-level governance, sustainable development, gender equality and equal opportunities in all implementation phases of the EEA Financial Mechanism 2014-2021. 3. The Beneficiary State shall take proactive steps in order to ensure adherence to these principles at all levels involved in the implementation of the EEA Financial Mechanism 2014-2021. 4. No later than 31/12/2020, the Parties to this Memorandum of Understanding shall review progress in the implementation of this Memorandum of Understanding and thereafter agree on reallocations within and between the programmes, where appropriate. The conclusion of this review shall be taken into account by the National Focal Point when submitting the proposal on the reallocation of the reserve referred to in Article 1.11 of the Regulation.

  • Accounting Principles Where the character or amount of any asset or liability or item of income or expense is required to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, it shall be done, unless otherwise specified herein, in accordance with GAAP.

  • Funding Principles A Party which spends less than its allocated share of the Consortium Budget will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the Consortium Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.

  • Guiding Principles This Agreement shall create a liberal, facilitative, transparent and competitive investment environment in ASEAN by adhering to the following principles: (a) provide for investment liberalisation, protection, investment promotion and facilitation; (b) progressive liberalisation of investment with a view towards achieving a free and open investment environment in the region; (c) benefit investors and their investments based in ASEAN; (d) maintain and accord preferential treatment among Member States; (e) no back-tracking of commitments made under the AIA Agreement and the ASEAN IGA; (f) grant special and differential treatment and other flexibilities to Member States depending on their level of development and sectoral sensitivities; (g) reciprocal treatment in the enjoyment of concessions among Member States, where appropriate; and (h) accommodate expansion of scope of this Agreement to cover other sectors in the future.