COMPENSATION ON TERMINATION FOR FORCE MAJEURE Sample Clauses

COMPENSATION ON TERMINATION FOR FORCE MAJEURE. The provisions of Part 5 (Compensation on Termination for Force Majeure or Uninsurability) of Schedule 17 (Compensation on Termination) shall apply in respect of Compensation on Termination for Force Majeure.
Sample 1Sample 2
AutoNDA by SimpleDocs
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. On termination of this PPP Agreement under clause 60 (Termination for Force Majeure), the Municipality shall pay to the Private Party the aggregate of: 67.1 an amount equal to the Debt and all fees, costs, expenses, breakage costs and breakage premiums in connection with any Financing Agreement; 67.2 the Subcontractor Costs; 67.3 an amount equal to the Shareholder Loans (indexed to CPI) less any interest on the Shareholder Loans already paid to the Shareholders which, if a negative amount, shall be deemed to be zero for purposes of calculating the Termination amount; 67.4 an amount equal to all amounts paid to the Private Party in respect of Equity (indexed to CPI) less dividends already paid to the Shareholders which, if a negative amount, shall be deemed to be zero for purposes of calculating the Termination amount; and 67.5 retrenchment costs for employees of the Private Party that have been or will be reasonably incurred by the Private Party as a direct result of the termination of this PPP Agreement; 67.6 less, to the extent it is a positive amount, the aggregate, as at the Termination Date, of: 67.6.1 all credit balances on any bank accounts held by or on behalf of the Private Party on the Termination Date and the value of any right of the Private Party or the Lenders to receive insurance proceeds or any proceeds pursuant to letters of credit and of any such proceeds actually received by them (save where such credit balances or proceeds are paid to the Municipality and/or are to be applied in reinstatement) and sums due and payable from the Subcontractors and any other third parties; 67.6.2 sums due and payable from the Subcontractor and any other third parties to the Private Party; and 67.6.3 all amounts payable by the Lenders (or the counter-parties to the interest rate or exchange rate hedging arrangements provided for in the Financing Agreements) to the Private Party in connection with the early termination of such hedging arrangements as a result of prepayment of amounts outstanding under the Financing Agreements; 67.7 Interest at the rate of the Compensation Date Interest Rate shall be payable on the amount so determined with effect from the Determination Date to the Compensation Date. 67.8 If the aggregate of the amounts referred to above is less than zero, then, for the purposes of the calculation in this clause the aggregate shall be deemed to be zero.
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. REDACTED – Commercially Sensitive Information
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. 41.1 On termination of this Agreement under Clause 40 (Termination on Force Majeure), the Lead Authority shall pay to the Contractor the Force Majeure Termination Sum in accordance with Clause 44 (Calculation and Payment of Compensation on Early Termination). 41.2 The Force Majeure Termination Sum shall be the amount equal to: 41.2.1 the aggregate of amortised Capital Expenditure in respect of Contractor Assets and operating costs (calculated on an arm’s length basis) incurred as at the Termination Date, less
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. 55.1 On termination of this Contract under clause 54 (Termination on Force Majeure), the Councils shall pay to the Contractor in accordance with clause 60 (Calculation and Payment of Compensation on Early Termination) and clause 55.2 below, an amount equal to the aggregate of: 55.1.1 the Senior Debt; 55.1.2 an amount equal to the Junior Debt less an amount equal to the aggregate of payments of interest and principal made by the Contractor under the Subordinated Financing Agreements; 55.1.3 an amount equal to all amounts paid to the Contractor by way of subscription for shares in the capital of the Contractor less dividends and other distributions paid to the shareholders of the Contractor (save to the extent deducted under 55.1.2 above); and 55.1.4 redundancy payments for employees of the Contractor that have been or will be reasonably incurred by the Contractor as a direct result of termination of this Contract and any Sub-Contractor Breakage Costs. 55.2 If the amounts referred to in clause 55.1.2 and/or 55.1.3 are less than zero, then, for the purposes of the calculation in clause 55.1 they shall be deemed to be zero. 55.3 Such amount shall be determined and paid in accordance with clause 60 (Calculation and Payment of Compensation on Early Termination).
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. On termination of the Agreement pursuant to clause 35 (Termination as a Result of Force Majeure) the Council shall pay to the Partner the Force Majeure Termination Payment as set out in part 2 of schedule 21 (Termination Payments).
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. Amount On termination of this Agreement under clause 45.3 (Notification for Force Majeure45.5 (Unable to Agree), or clause 67.3.1.1 (Consequences) or clause 67.3.1.2 (Uninsurable RisksConsequences) the Authority shall pay to the Contractor the Force Majeure Termination Sum in accordance with clauses 55 (Miscellaneous Compensation Provisions) and 56 (Method of Payment). Subject to clauses 52.3 to 52.5 the Force Majeure Termination Sum shall be an amount equal to the aggregate of:
Sample 1
AutoNDA by SimpleDocs
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. Houseblock);
Sample 1
COMPENSATION ON TERMINATION FOR FORCE MAJEURE. 50.1 Subject to clause 50.2 below, on termination of this Agreement under clause 45, the Private Party shall pay to the Operations Subcontractor within 10 Business Days of receiving payment from the Municipality, the Subcontractor's Costs as agreed with the Municipality which shall be paid to the Operations Subcontractor once the monies due to the Lenders and by the Private Party have been fully and finally settled, less any amounts that the Private Party is entitled to set-off under this Agreement. 50.2 It is agreed that where the PPP Agreement terminates under clause [60] of the PPP Agreement, resulting in termination of this Agreement, then: 50.2.1 if the Operations Subcontractor claims the amounts contemplated in clause 50.1 from the Private Party, the Private Party shall be obliged to claim a corresponding amount from the Municipality in accordance with the provisions of the PPP Agreement, provided such claim is timeous and the Private Party is able to bring the claim in terms of the PPP Agreement; 50.2.2 subject to the Private Party complying with clauses 50.2, the Operations Subcontractor shall only be entitled to receive the amounts detailed in clause 50.1, which are payable by the Municipality under the PPP Agreement, from the Private Party if the Private Party receives payment under the PPP Agreement from the Municipality; 50.2.3 the Operations Subcontractor shall not be entitled to claim specific performance in respect of the payment of the amounts detailed in clause 50.1 which are payable by the Municipality under the PPP Agreement in circumstances where the Private Party has not received payment from the Municipality; 50.2.4 the Private Party shall pursue its claims against the Municipality fully to the extent the Lenders consent thereto. The Operations Subcontractor shall be entitled to payment from the Private Party on the Compensation Date; and 50.2.5 the Operations Subcontractor shall only be entitled to interest at the rate of the Compensation Date Interest Rate in terms of this clause 50, with effect from the Compensation Date until the date that such amount is paid in full, after the Private Party has paid, to its Lenders, such amounts as may be due and payable to its Lenders. Any payments made to the Operations Subcontractor, pursuant to this clause 50.2.5, shall be proportional to any corresponding payments of interest made or to be made to the D&C Subcontractor, in terms of the D&C Subcontract, and to the Shareholders of the Private ...
Sample 1

Related to COMPENSATION ON TERMINATION FOR FORCE MAJEURE

  • Compensation on Termination An Employee whose services have been terminated for any cause and who within three (3) months of separation is diagnosed by a physician as having tuberculosis, shall be entitled to the above compensation and the salary rate shall be based on the salary he was receiving at the time his services were terminated. The benefits of this provision may be extended for an additional three (3) months, provided that the former Employee concerned submits a x-ray plate taken within three (3) months after the termination of employment.

  • Termination for Force Majeure 15.5.1. The License Agreement may be terminated for Force Majeure Reasons as specified in Article -14.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be eff ected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity an d up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of t he ESC Region 8 and TIPS. Does vendor agree? Yes

  • Effect of Termination on Compensation In the event of the termination of this Agreement prior to the completion of the term of employment specified in Article 1, the Employee shall be entitled to the compensation earned by the Employee prior to the effective date of termination as provided for in this Agreement, computed pro rata up to and including that date. Except as otherwise provided in this Agreement, the Employee shall be entitled to no further compensation after the date of termination.

  • Termination for continuing Force Majeure Event Either Party may, by written notice to the other, terminate this Framework Agreement if a Force Majeure Event endures for a continuous period of more than one hundred and twenty (120) Working Days.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be effected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity and up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of the ESC Region 8 and TIPS. Does vendor agree? Yes

  • On Termination In the event this Agreement is terminated for any reason prior to the expiration of its original term or any renewal term, Owner shall indemnify, protect, defend, save and hold Manager and all of the other Indemnified Parties harmless from and against any and all claims, causes of action, demands, suits, proceedings, loss, judgments, damage, awards, liens, fines, costs, attorney's fees and expenses, of every kind and nature whatsoever (collectively, "Losses"), that may be imposed on or incurred by Manager by reason of the willful misconduct, gross negligence and/or unlawful acts (such unlawfulness having been adjudicated by a court of proper jurisdiction) of Owner.

  • Termination for Catastrophe In event of Catastrophic Damage, this contract may be modified un- der B8.32, following rate redetermination under B3.32, or terminated under this Subsection. Such termination shall not be considered a termination under B8.34.

  • Duration/Termination 1. This License Agreement is concluded for an indefinite period, subject to termination in accordance with the provisions of article 6.2 and 6.

  • Compensation Upon Termination Upon termination of the Executive’s employment within twenty-four (24) months following a Change in Control of the Corporation, unless such termination is because of the Executive’s death, or by the Corporation for Cause or Disability or by the Executive other than for Good Reason, the Corporation shall pay to the Executive the following: (i) The Corporation shall pay the Executive his full salary (whether such salary has been paid by the Corporation or by any of its subsidiaries) through the Date of Termination at the rate in effect at the time Notice of Termination is given and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any plan or other arrangement of the Company, at the time such payments are due (and in any event within 90 days after the Separation from Service); (A) The Corporation shall pay to the Executive an amount equal to 1.5 multiplied by the Executive’s annualized includable compensation for the base period, within the meaning of Section 280G(d)(1) of the Code, provided, however, that if any of such payment is or will be subject to the excise tax imposed by Section 4999 of the Code or any similar tax that may hereafter be imposed (“Excise Tax”), such payment shall be reduced to a smaller amount, even to zero, which smaller amount shall be the largest amount payable under this paragraph that would not be subject in whole or in part to the Excise Tax after considering all other payments to the Executive required to be considered under Sections 4999 or 280G of the Code. Such payment shall be referred to as the “Severance Payment.” The Severance Payment shall be made in a lump sum within 90 days after the Separation from Service. (B) In the event that the Severance Payment is subsequently determined to be less than the amount actually paid hereunder, the Executive shall repay the excess to the Corporation at the time that the proper amount is finally determined, plus interest on the amount of such repayment at the Applicable Federal Rate. In the event that the Severance Payment is determined to exceed the amount actually paid hereunder, the Corporation shall pay the Executive such difference plus interest on the amount of such additional payment at the Applicable Federal Rate at the time that the amount of such difference is finally determined. (C) In the event that the amount of the Severance Payment exceeds or is less than the amount initially paid, such difference shall constitute a loan by the Corporation to the Executive, or by the Executive to the Corporation, as the case may be, payable on the fifth (5th) day after demand (together with interest at the Applicable Federal Rate). (D) The amount of any payment provided for in this subparagraph shall not be reduced, offset or subject to recovery by the Company or the Company’s Successor by reason of any compensation earned by the Executive as the result of employment by another Corporation after the Date of Termination, or otherwise. (ii) The Corporation shall also pay to the Executive all legal fees and related expenses incurred by the Executive in connection with this Agreement, whether or not the Executive prevails (including, without limitation, all such fees and expenses, if any, incurred in contesting or disputing any such termination or in seeking to obtain or enforce any right or benefit provided by this Agreement). (iii) The Corporation shall maintain in full force and effect, for the Executive’s continued benefit until the earlier of (A) the death of the Executive; (B) the Executive’s commencement of full-time employment with a new Corporation; or (C) twenty-four (24) months following the Operative Date, all life insurance, medical, health and accident, and disability plans, programs or arrangements in which the Executive was entitled to participate immediately prior to the Operative Date, provided that the Executive’s continued participation is possible under the general terms and provisions of such plans and programs. In the event that the Executive’s participation in any such plan or program is barred, the Company shall arrange to provide the Executive with benefits substantially similar to those which the Executive is entitled to receive under such plans and programs. In the case of any insurance provided the Executive pursuant to this subparagraph (iii), each premium therefor shall be paid after, but no later than 30 days after, the Corporation’s receipt of the invoice for such premium. No coverage shall be provided to the Executive under a self-insured medical plan of the Corporation after the Separation from Service; provided that such coverage may be provided during the period of time during which the Executive would be entitled to continuation coverage under such plan pursuant to Section 4980A of the Code if the Executive elected such continuation coverage and paid the applicable premiums. Except for coverage permitted by the preceding sentence, no benefits shall be provided pursuant to this subparagraph (iii) other than through the purchase of insurance by the Corporation. (iv) The Executive shall not be required to mitigate the amount of any payment provided under the Agreement by seeking other employment or otherwise. It is specifically understood that any compensation the Executive receives from the Corporation or any other person for services rendered prior to or after termination of employment, such as a payment under any deferred compensation plan maintained by the Corporation, will not reduce or offset the benefits to which he is entitled hereunder.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!