AMENDMENT, TERMINATION AND WITHDRAWAL Sample Clauses

AMENDMENT, TERMINATION AND WITHDRAWAL. Termination – Should either party determine that this Agreement creates an undue burden on it, it shall give written notice to the Town Clerk of the other Town/s, at least 90 days prior to the convening a meeting of the legislative body to vote on whether or not the Agreement should be terminated. The notice shall be specific as to the reason or reasons for termination to allow the other legislative body input into the advisability of such a termination. If the initiating Town votes to terminate this Agreement, the termination will be effective 60 days after delivery of the notice to the remaining Town/Towns. The 60-day window will give the parties time to consult on any issues arising from the termination. Any issues arising from the termination unresolved at the end of the 60-day period may be subject to binding arbitration at the request of either Town/Towns. However, the decision to terminate shall not be subject to arbitration. Immediately from the date a Town authorizes withdrawal, that Town ceases to be entitled to any further distributions pursuant to Article II, Section 1, and all of that Town’s share of revenues will thereafter be distributed to the sponsoring Town. Any payments previously made to the withdrawing Town, however, are not subject to any recapture or set-off. Immediately from the date a Town authorizes withdrawal and a successful transfer of its economic interest occurs that Town’s representatives will no longer be part of the Advisory Board. A withdrawing Town may only convey its economic interest to another Connecticut municipality, which municipality would have the right to receive the payment stream of the withdrawing municipality providing however, in order to be entitled to representation on the advisory board, the acquiring municipality must apply and be approved by a majority of the advisory board. No participant may convey less that their full percentage interest in the project. The Town of Putnam as sponsoring entity shall have a right of first refusal to meet any offer to purchase the withdrawing party’s share. The terms of the right of first refusal are that when the withdrawing municipality receives an offer from another municipality to purchase its rights which offer is acceptable to the withdrawing municipality it shall convey such offer in writing to the Town of Putnam and the Town of Putnam shall have forty-five (45) days to meet the terms of and conditions of the proposed sale, the withdrawing party may convey its i...
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AMENDMENT, TERMINATION AND WITHDRAWAL. This 28E shall operate perpetually unless terminated by written notice from one party to another. Such written notice will not relieve either party from the financial obligation to maintain the operation of MUSCOM during the fiscal year in which notice of termination is given and for the fiscal year beginning the following July 1 if notice is given after April 1. In the event of termination of this agreement all participants in MUSCOM will retain any property they have purchased for communication services or that has been allocated to their respective departments.
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Related to AMENDMENT, TERMINATION AND WITHDRAWAL

  • Termination and Withdrawal After the fifth anniversary of the effective date of this Agreement, this Agreement may be terminated by a unanimous vote of the Incorporating Parties or their successors or assigns. If the Incorporating Parties vote to terminate this Agreement, they will file with the Commission and the PSC an explanation of their action and a proposal for an alternate plan for the safe, reliable and efficient operation of the NYS Transmission System. Except as otherwise provided in this Section 3.02, any Party may withdraw from this Agreement upon ninety (90) days prior written notice to the ISO Board. In the case of an Investor-Owned Transmission Owner, no further approval by the Commission is needed for such withdrawal from the ISO Agreement, if such Investor-Owned Transmission Owner has on file with the Commission its own open access transmission tariff. Any modification to this Article shall provide any Party with the right to withdraw from the Agreement pursuant to the unmodified provisions of this Article, within ninety (90) days of the effective date of such modification. If the tax-exempt status of LIPA’s Tax Exempt Bonds are jeopardized by LIPA’s participation in the ISO, LIPA may withdraw from this Agreement upon thirty (30) days prior written notice to the ISO Board; however, LIPA shall provide earlier notice whenever and as soon as it is reasonably practicable to do so. Any such notice shall contain an explanation in reasonably sufficient detail of the grounds for withdrawal. To the extent reasonably requested by LIPA, the ISO shall treat this explanation as confidential consistent with the ISO’s confidentiality procedures.

  • Amendment; Termination (a) This Addendum (including the Schedules hereto) may not be amended without the prior written consent of the Majority Japan Local Currency Banks hereunder and subject to the provisions of Section 8.01 of the Credit Agreement.

  • Effective Date; Termination; Cancellation and Suspension Section 5.01. This Agreement shall come into force and effect on the date upon which the Development Credit Agreement becomes effective.

  • Termination and Post-Termination Continuation of Services If either Party provides Notice of Termination pursuant to Section 6.3 and, by 11:59 p.m. Central Time on the stated date of termination, neither Party has requested negotiation of a new Interconnection agreement, then (a) this Agreement will terminate at 11:59 p.m. Central Time on the termination date identified in the Notice of Termination, and (b) the services and functions being provided by CenturyLink under this Agreement at the time of termination, including Interconnection arrangements and the exchange of Local Traffic, may be terminated by CenturyLink unless the Parties jointly agree to other continuing arrangements.

  • Term Termination and Suspension 18.1 This Agreement shall be effective from the Effective Date for the Term. The Service shall commence on the Commencement Date and continue until the Completion Date, whereupon this Agreement shall expire unless terminated earlier in accordance with its terms.

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • TERM OF AGREEMENT/TERMINATION The term of this Agreement shall commence on the date hereof and such term and this Agreement shall terminate upon the earlier to occur of (i) the Effective Time, and (ii) the date on which the Merger Agreement is terminated in accordance with its terms. Upon such termination, no party shall have any further obligations or liabilities hereunder; PROVIDED, HOWEVER, such termination shall not relieve any party from liability for any breach of this Agreement prior to such termination.

  • PROJECT TERMINATION AND SUSPENSION 15.1 This Agreement may be terminated during the Pre-Construction Phase by either party upon fifteen (15) days written notice should the other party fail substantially to perform in accordance with its terms through no fault of the party initiating the termination and the breach is not cured or a plan to cure the breach acceptable to the non-breaching party is not established within the fifteen (15) day period.

  • EFFECTIVE DATE, TERMINATION, AND RENEWAL 17.1 This Agreement shall become effective on the first day of May, AD., 2019, and shall continue in full force and effect until the thirtieth (30th) day of April, AD., 2022 and thereafter from year to year unless terminated upon written notice of either party within one hundred and twenty (120) days prior to any anniversary of the terminal date.

  • TERM, TERMINATION & SUSPENSION The Company may terminate this Agreement with You at any time for any reason, with or without cause. The Company specifically reserves the right to terminate this Agreement if You violate any of the terms outlined herein, including, but not limited to, violating the intellectual property rights of the Company or a third party, failing to comply with applicable laws or other legal obligations, and/or publishing or distributing illegal material. If You have registered for an account with Us, You may also terminate this Agreement at any time by contacting Us and requesting termination. At the termination of this Agreement, any provisions that would be expected to survive termination by their nature shall remain in full force and effect.

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