9Termination Clause Samples
The Termination clause outlines the conditions under which either party may end the agreement before its natural expiration. It typically specifies the events or breaches that can trigger termination, such as non-performance, insolvency, or mutual agreement, and may detail the required notice period and procedures for giving notice. This clause serves to provide a clear and structured process for ending the contractual relationship, thereby protecting both parties from ongoing obligations in situations where continuing the agreement is no longer viable or desirable.
9Termination. This Security Agreement shall continue in effect (notwithstanding the fact that from time to time there may be no Secured Obligations outstanding) until (i) the Note has terminated pursuant to its express terms and (ii) all of the Secured Obligations have been Paid in Full, and the Secured Party shall, in addition to any actions required under the Note, upon the request and at the expense of the Company, agree to release all of its liens and security interests hereunder and execute and deliver all UCC termination statements and/or other documents reasonably requested by the Company evidencing such termination.
9Termination. This Agreement will be terminated and of no force or effect, the parties hereto will have no liability hereunder (other than with respect to monies due and owing by Parent to the Rights Agent), and no payments will be required to be made, upon the upon the earliest to occur of (such time, the “Termination”)
(a) payment by the Rights Agent to each Holder of the last of the Milestone Payments (if any) required to be paid under the terms of this Agreement, (b) the delivery of a written notice of termination duly executed by ▇▇▇▇▇▇ and the Acting Holders and (c) December 31, 2040. For the avoidance of doubt and notwithstanding the foregoing, the right of any Holder to receive the Milestone Payment with respect to any Milestone, and any covenants and obligations of Parent and the Company (other than pursuant to Section 2.4(d)), shall be irrevocably terminated and extinguished if such Milestone is not achieved before the Termination. Notwithstanding the foregoing, no such termination shall affect any rights or obligations accrued prior to the effective date of such termination.
9Termination. This Agreement terminates upon the first to occur of:
(a) the date this Agreement is terminated by the written approval of: (i) the Board; (ii) the Founders and (ii) a Preferred Majority;
(b) the date that is immediately prior to a Qualified IPO;
(c) the time that one Person becomes the beneficial owner of all of the Shares; and
(d) the date of a Sale Transaction unless otherwise agreed in writing by a Shareholder Majority; except that the provisions of Sections 6.7, 8.1, and 8.2 continue upon a termination of this Agreement.
9Termination. This Agreement shall terminate 10 years after the Effective Date, unless extended in writing by the Parties. In addition, this Agreement shall terminate 5 years after the Effective Date in the event that the TUMF Improvements as specified in the Credit Agreement is not commenced within 5 years of the Effective Date.
9Termination. This Agreement will be terminated and of no force or effect, the parties hereto will have no liability hereunder (other than with respect to monies due and owing by the Buyer Entities to the Rights Agent or the Representative), and no payments will be required to be made, upon the earliest to occur of (a) the mailing by the Rights Agent to the address of each Holder as reflected in the CVR Register of all CVR Payment Amounts (if any) required to be paid under the terms of this Agreement, (b) the delivery of a written notice of termination duly executed by the Buyer Entities and the Acting Holders, or (c) subject to Section 4.4, the Expiration Date (only to the extent that a Legacy Assets Transaction does not occur prior to the Expiration Date). For the avoidance of doubt and notwithstanding anything to the contrary, nothing herein shall terminate or otherwise negatively affect any of the rights or remedies of the Representative Group with respect to the Holders pursuant to this Agreement or otherwise.
9Termination. This Agreement shall terminate at the end of the Effectiveness Period, except that Articles IV and V and this Article VII shall remain in effect in accordance with their terms.
9Termination. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Loan Guaranty as to future Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by ▇▇▇▇▇▇, (b) no such revocation shall apply to any Obligations in existence on the date of receipt by Lender of such written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Lender, (d) no payment by any Borrower, any other Guarantor, or from any other source, prior to the date of Lender’s receipt of written notice of such revocation shall reduce the maximum obligation of any Guarantor hereunder, and (e) any payment, by any Borrower or from any source other than a Guarantor which has made such a revocation, made subsequent to the date of such revocation, shall first be applied to that portion of the Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligation of any Guarantor hereunder.
9Termination. This Agreement shall terminate on the earlier of (i) the election of the JCF Majority Interest or (ii) with respect any Stockholder, (A) the dissolution or liquidation of such Stockholder or (B) such date as such Stockholder may sell all of its Shares entitled to registration rights without regard to volume or manner of sale restrictions under Rule 144 under the Securities Act, during a 90-day period; provided, that notwithstanding any such termination, Section 3.4 shall survive any expiration or termination of this Agreement. Termination of this Agreement shall not relieve any party for the breach of any obligations under this Agreement prior to such termination.