Employment. Nothing under the Plan or in this Agreement shall confer upon the Participant any right to continue in the employ of the Company or its subsidiaries or in any way affect the Company's right to terminate Participant's employment without prior notice at any time for any or no reason (subject to the terms of any employment agreement between the Participant and the Company or a subsidiary).
Employment. Penns Woods and JSSB hereby employ Executive, and Executive hereby accepts employment with Penns Woods and JSSB, on the terms and conditions set forth in this Agreement.
Employment. The Company hereby employs the Employee and the Employee hereby accepts employment with the Company on the terms and conditions set forth in this Agreement.
Employment. The Terms & Conditions do not confer upon Executive any right to continue in employment, nor shall it restrict Executive’s right to terminate employment at any time.
Employment. agrees to employ Executive in the position of Executive Vice President of , and Executive agrees to accept employment in this position, subject to the terms and conditions set forth in this Agreement, including the confidentiality, non-competition and non-solicitation provisions which Executive acknowledges were discussed in detail prior to and made an express condition of Executive’s promotion to Executive Vice President of . Executive acknowledges that the Board’s approval of Executive’s promotion to Executive Vice President of is conditioned upon Executive’s execution of this Agreement.
Employment. Employer agrees to employ Executive, and Executive agrees to employment by Employer on the terms and conditions hereinafter set forth.
Employment. agrees to employ Executive in the position of Executive Vice President of , and Executive agrees to accept employment in this position, subject to the terms and conditions set forth in this Agreement, including the confidentiality, non-competition and non-solicitation provisions which Executive acknowledges were discussed in detail prior to and made an express condition of his promotion to Executive Vice President of . Executive acknowledges that the Boards approval of Executives promotion to Executive Vice President of is conditioned upon Executives execution of this Agreement.
Employment. Except for directors or organizers, Optionee agrees to remain in the employ of, or otherwise affiliated with, the Company, or any subsidiary for at least one (1) year from the date the option is granted subject to prior termination at the discretion of the Board of Directors. This Agreement shall not obligate the Company or a Subsidiary to employ Optionee for any period, nor shall it interfere in any way with the right of the Company or a Subsidiary to increase or reduce Optionees compensation.
Application of Payments. Each prepayment pursuant to [[Section 2.4(e)(i), (ii), or (iii)])])]])])] shall, # so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in full, and second, to cash collateralize the Letters of Credit in an amount equal to 103% of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied in the manner set forth in [Section 2.4(b)(iii)].
Application of Funds. After the exercise of remedies provided for in [Section 9.02] (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to [Section 9.02]), any amounts received on account of the Obligations shall, subject to the provisions of [Section 2.16], be applied by the Administrative Agent in the following order:
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