Common use of Cessation of Payments Clause in Contracts

Cessation of Payments. In the event that the Executive (i) files any charge, claim, demand, action or arbitration with regard to the Executive’s employment, compensation or termination of employment under any federal, state or local law, or an arbitration under any industry regulatory entity, except in either case for a claim for breach of this Agreement or failure to honor the obligation set forth herein, or (ii) breaches any of the covenants contained in this Agreement in a material respect, the Company shall be entitled to cease making any payments or providing any benefits due hereunder.

Cessation of Payments. In the event that the Executive (i) files any charge, claim, demand, action or arbitration with regard to the Executive’s employment, compensation or termination of employment under any federal, state or local law, or an arbitration under any industry regulatory entity, except in either case for a claim for breach of this Agreement or failure to honor the obligation obligations set forth herein, or (ii) breaches or has breached any of the covenants or representations contained in this Agreement in a material respectAgreement, the Company shall be entitled to cease making any payments or providing any benefits due hereunder.

Cessation of Payments. In the event that the Executive (i) files any charge, claim, demand, action or arbitration with regard to the Executive’s employment, compensation or termination of employment under any federal, state state, local or local foreign law, rule or regulation, or an arbitration under any industry regulatory entity, except in either case for a claim for breach of this Agreement or failure to honor the obligation set forth herein, or (ii) willfully breaches any of the covenants contained in this Agreement in a material respectAgreement, the Company shall be entitled to cease making any payments or providing any benefits due hereunder.

Cessation of Payments. In the event that the Executive (ia) files any charge, claim, demand, action or arbitration with regard to the Executive’s his employment, compensation or termination of employment under any federal, state state, local or local foreign law, or an arbitration under any industry regulatory entity, except in either case for a claim for breach of this Agreement or failure to honor the obligation obligations set forth herein, herein or (iib) breaches any of the covenants contained in or incorporated into this Agreement in a material respector the Restrictive Covenant, the Company shall will be entitled to cease making immediately cancel any payments outstanding RSUs or providing any benefits due hereunderPRSUs.