Conditions of Termination/Effect of Termination Sample Clauses

Conditions of Termination/Effect of Termination. In addition to expiration at the end of the term specified in Article 2, this Agreement may be terminated under any of the following circumstances:
Sample 1
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Conditions of Termination/Effect of Termination. As conditions to the transfer by the Lessor of any Item on the applicable Obsolescence Termination Date to the successful bidder pursuant to the last paragraph of Section 8.3 hereof, (a) any necessary Governmental Actions in connection therewith shall have been obtained by and at the expense of the Lessee Parties, (b) the Lessee shall on such Obsolescen Termination Date pay to the Lessor or, so long as the Indenture has no been discharged in accordance with its terms, the Indenture Trustee th sum of (i) any Accrued Basic Rent due with respect to such Item of Equipment as of such Obsolescence Termination Date and (ii) the excess if any, of the Termination Value for such Item of Equipment, computed of such Obsolescence Termination Date, over the net proceeds actually realized by the Lessor from any sale thereof, and (c) the Co-Lessee shall on such Obsolescence Termination Date pay to the Lessor or, so long as the Indenture has not been discharged in accordance with its terms, the Indenture Trustee the sum of (i) any Make Whole Premium Amount payable on such Obsolescence Termination Date pursuant to the Indenture, (ii) any other Rent (including any amounts for costs and expenses payable by the Co-Lessee as required in the immediately preceding paragraph) with respect to such Item of Equipment due and unpaid as of such Obsolescence Termination Date and (iii) any penaltie premium or other amounts payable under the Indenture or the Notes in connection with the principal amount of the Notes being prepaid on suc date (the amounts payable pursuant to clauses (b) and (c) collectively the "Obsolescence Termination Payment"). Upon payment by the Lessee a the Co-Lessee of their respective shares of all Obsolescence Terminati Payments as to any terminated Item of Equipment, the obligation of the Lessee Parties to pay Basic Rent with respect to such Item of Equipmen shall terminate, such Item of Equipment shall no longer be subject to this Lease and the Lease Term with respect to such Item of Equipment shall end. If, other than as a result of the Lessor's election to retain such Item of Equipment as provided for in Section 8.2 and the compliance by the Lessor and the Lessee Parties with their respective obligations in connection therewith, on or as of the Obsolescence Termination Date no sale of such Item of Equipment shall have occurred or the Lessee or the Co-Lessee shall not have complied in full with th Section 8.4, this Lease shall continue in full force and effect ...
Sample 1

Related to Conditions of Termination/Effect of Termination

  • Termination Effect of Termination 41 Section 8.01. Termination............................................................. 41 Section 8.02. Effect of Termination................................................... 42

  • Conditions of Termination a. COMPANY may terminate this Agreement in the event LESSEE breaches any of the terms, obligation, or provisions of this Agreement, or ceases to operate the Vehicle under the trade name(s) “ ”. b. This Agreement may be terminated at any time by mutual agreement of the parties. c. LESSEE may termination this agreement without cause at any time upon ____ days’ written notice to COMPANY. LESSEE agrees that for a period of ____ days from LESSEE’s notice that LESSEE intends to terminate or cancel this agreement, LESSEE will not operate a vehicle that could compete to service parties with whom COMPANY has written agreements, except as authorized under this Agreement, provided that this restriction will not prevent LESSEE from providing ground transportation services for the general public. d. If at any time COMPANY believes LESSEE cannot, will not, or has not been performing pursuant to the terms of this Agreement, COMPANY may (as an alternative to immediate cancellation) temporarily revoke LESSEE’s right to operate the Vehicle under this Agreement for a period of time sufficient to investigate COMPANY’s belief. Such temporary revocation by COMPANY’s shall not waive COMPANY’s right to terminate this Agreement as herein provided. e. LESSEE agrees to be tested for the illegal use of controlled substances, or for blood alcohol level. LESSEE may be tested on a random, volunteer, “reason to believe”, or post-accident basis. Refusal to test is breach of this Agreement and grounds for cancellation of this Agreement. f. This Agreement may be cancelled at any time by the COMPANY if COMPANY has a good faith belief that LESSEE may present an unreasonable risk of harm to passengers or others. g. LESSEE agrees that if LESSEE believes or contends COMPANY has breached, or is in any way breaching this Agreement, LESSEE shall immediately notify COMPANY in writing the facts giving rise to the alleged breach. If written notice is not given within 30 days of LESSEE’s awareness of those facts, LESSEE waives, for all purposes, any breach based upon those facts. h. After the initial term, this Agreement may be cancelled by COMPANY, without cause, with 30 days notice to LESSEE. i. If Lessee does not operate the Vehicle under this Agreement for a period of 30 days, COMPANY may terminate this Agreement without notice to LESSEE.

  • Notice of Termination; Effect of Termination Any termination of this Agreement under Section 7.1 above will be effective immediately upon the delivery of written notice of the terminating party to the other parties hereto. In the event of the termination of this Agreement as provided in Section 7.1, this Agreement shall be of no further force or effect, except (i) as set forth in this Section 7.2, Section 7.3 and Article 8 (miscellaneous), each of which shall survive the termination of this Agreement, and (ii) nothing herein shall relieve any party from liability for any willful breach of this Agreement. No termination of this Agreement shall affect the obligations of the parties contained in the Confidentiality Agreement, all of which obligations shall survive termination of this Agreement in accordance with their terms.

  • Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • Termination and Effect of Termination This Agreement shall terminate upon the date on which no Holder holds any Registrable Securities, except for the provisions of Sections 3.9 and 3.10, which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Registration Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section 3.9 hereof shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

  • Effect of Termination of Agreement Upon the Termination Date or the Expiration Date, as applicable, any amounts then owing by a Party to the other Party shall become immediately due and payable and the then future obligations of Customer and Provider under this Agreement shall be terminated (other than the indemnity obligations set forth in Section 13). Such termination shall not relieve either Party from obligations accrued prior to the effective date of termination or expiration.

  • Effect of Termination for Cause In the event the Executive’s employment shall be terminated for Cause pursuant to Section 5.1 hereof, the Company shall pay the Executive his salary through the date of termination.

  • Effects of Termination In the event of any termination of this Agreement as provided in Section 5.1, this Agreement (other than Section 3.2(b), this Section 5.2 and ARTICLE VI (other than Sections 6.1 and 6.2) and all applicable defined terms, which shall remain in full force and effect) shall forthwith become wholly void and of no further force and effect; provided that nothing herein shall relieve any party from liability for willful breach of this Agreement.

  • Effect of Termination Notice Where Network Rail or the Train Operator has served a Termination Notice on the other: (a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c); (b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and (c) this contract shall terminate on the later of: (i) the date and time specified in the Termination Notice for the contract to terminate (or such later date and time as the party which served the Termination Notice notifies to the other before the date and time so specified); and (ii) the date on which a copy of the Termination Notice is given to XXX.

  • Effect of Termination Survival If the Service Agreement is terminated, the Provider shall destroy all of LEA’s Student Data pursuant to Article IV, section 6.

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