Consequences of Termination -- GE Not in Default Sample Clauses

Consequences of Termination -- GE Not in Default. In the event this ------------------------------------------------ Agreement is terminated by CCSI under Section 13.2, or by GE under Section 13.1: (a) GE's licenses under CCSI Technology pursuant to Article 6 shall continue in effect and CCSI shall promptly arrange with GE for a Third Party source of supply (as a vendor to CCSI) of the XONON Combustion System using the procedure set forth in Section 7.7 above which assures GE of a continuing and uninterrupted source of supply for the XONON Modules and/or XONON Components, and (b) GE's rights to [*] under Articles 6 and 7 as well as GE's rights to [*], rights to purchase and sole distribution rights under Article 7 shall all survive such termination. CONFIDENTIAL TREATMENT REQUESTED [*] IS USED TO INDICATE THAT A PORTION OF THE EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. Further, if GE terminates under Section 6.3 above because of failure on the part of CCSI to pay any Shortfall under Section 6.3 which CCSI is obligated to pay under said Section 6.3, CCSI shall immediately set up and license, at CCSI's cost, a Third Party source of Product under the procedure set forth in Section 7.7 above except in this case the Third Party shall be a vendor to GE, provided the Third Party license is limited to manufacture and sale of Products solely to GE at the [*] and not to Third Parties. In the event the Third Party source of supply established above under clause (a) as a vendor to CCSI fails to supply GE with Product in a timely fashion pursuant to this Agreement, then GE shall, upon written notice to CCSI, also have the right to have a Third Party Product vendor to GE established pursuant to the procedure set forth in the preceding sentence.
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Consequences of Termination -- GE Not in Default. In the event this ------------------------------------------------ Agreement is terminated by CCSI under Section 13.2, or by GE under Section 13.1: (a) GE's licenses under CCSI Technology pursuant to Article 6 shall continue in effect and CCSI shall promptly arrange with GE for a Third Party source of supply (as a vendor to CCSI) of the XONON Combustion System using the procedure set forth in Section 7.7 above which assures GE of a continuing and uninterrupted source of supply for the XONON Modules and/or XONON Components, and [*]. Further, if GE terminates under Section 6.3 above because of failure on the part of CCSI to pay [*], CCSI shall immediately set up and license, at CCSI's cost, a Third Party source of Product under the procedure set forth in Section 7.7 above except in this case the Third Party shall be a vendor to GE, provided the Third Party license is limited to manufacture and sale of Products solely to GE at the Discount Price and not to Third Parties. In the event the Third Party source of supply established above under clause (a) as a vendor to CCSI fails to supply GE with Product in a timely fashion pursuant to this Agreement, then GE shall, upon written notice to CCSI, also have the right to have a Third Party Product vendor to GE established pursuant to the procedure set forth in the preceding sentence.
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Related to Consequences of Termination -- GE Not in Default

  • Consequences of Termination Upon termination of this Agreement:

  • Consequences of a Servicer Termination Event If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.

  • Consequences of a Servicer Default If a Servicer Default shall occur and be continuing, either the Indenture Trustee or the Noteholders whose Notes evidence not less than a majority of the Outstanding Amount of the Controlling Class as of the close of the preceding Distribution Date (or, if the Notes have been paid in full and the Indenture has been discharged in accordance with its terms, by the Owner Trustee or the Majority Certificateholders as of the close of the preceding Distribution Date) by notice then given in writing to the Servicer and the Owner Trustee (and to the Indenture Trustee if given by the Noteholders or the Certificateholders) may terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Receivables or otherwise, shall pass to and be vested in the Indenture Trustee pursuant to and under this Section 7.02. The Indenture Trustee is hereby authorized and empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and related documents, or otherwise. The Servicer agrees to cooperate with the Indenture Trustee and the Owner Trustee in effecting the termination of the responsibilities and rights of the Servicer under this Agreement, including the transfer to the Indenture Trustee or the Owner Trustee for administration by it of all cash amounts that shall at the time be held by the Servicer for deposit, or that shall have been deposited by the Servicer in the Collection Account, or the Note Distribution Account or thereafter received with respect to the Receivables that shall at that time be held by the Servicer.

  • Consequences of an Event of Default (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:

  • Circumstances of Termination This Agreement and the employment relationship between COMPANY and EMPLOYEE may be terminated as follows:

  • Consequences of Event of Default In every such event (other than an event with respect to the Borrower described in clause (l) of Section 7.01), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (l) of Section 7.01, (i) the Commitments shall automatically terminate, and (ii) the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower.

  • Consequences of Termination of Employment The consequences of the Holder’s termination of employment during the Performance Cycle and before a Change in Control shall be as follows:

  • Termination Upon Default Upon the occurrence of an Event of Default (as defined below) by either party and the failure of such party to cure such default after notice and opportunity to cure as provided by Section 6.3 below, the nondefaulting party may terminate this Agreement at any time.

  • Termination on Default If any of the Parties are in breach or default of the terms or conditions contained in this Agreement and do not rectify or remedy that breach or default within 90 days from the date of receipt of notice by the other party requiring that default or breach to be remedied, then the other party may give to the party in default a notice in writing terminating this Agreement but without, in any way, limiting or affecting the rights or liabilities of the parties or either of them that have accrued to the date of termination. However, the party to whom notice of default has been delivered shall have the right to contest the termination in a court of law and any such termination shall not become effective until a final decision has been rendered by a court of competent jurisdiction that the alleged breach is actual and that the party to which a notice of default has been delivered, has not effectively cured the default.

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