Default and Termination of the Agreement Sample Clauses

Default and Termination of the Agreement. 9.1 If either Party consider the other Party to be in default of their obligations under this Agreement, they may notify the other Party in writing of the reasons they consider the other Party to be in default. If appropriate, matters shall be considered by the Parties at a meeting of the Group. The Parties shall make all reasonable efforts to agree a joint plan of action to remedy the situation. 9.2 Where, despite any action taken in accordance with condition 9.1, a Party still consider the other Party to be in default, they may give that Party notice specifying the default and the action to be taken to rectify it (“Default Notice”). The Default Notice shall state a period of time, being a reasonable period of time, in which the required action is to be taken and will accord with the requirements of paragraph 1.1. 9.3 If either Party is in default of their obligations under this Agreement and fail to comply with a Default Notice, the basis of the default will be referred by the Group back to the parent bodies, the Trust and the Authority, and either Party may give notice in writing, terminating this Agreement (“Termination Notice”). A Termination Notice shall take effect no earlier than six months from the date that any Default Notice is served. 9.4 If Termination occurs, the Parties undertake to remove all references to the other relating to this Agreement, from their respective products, signage and publicity. Notwithstanding this, the Trustees may continue to use the name “The New Forest Centre” in accordance with paragraph 6.1. 9.5 If a situation arises where either Party consider, in its absolute discretion, that no purpose would be served in serving a Default Notice, they may serve a Termination Notice. Such discretion is only expected to be exercised in exceptional circumstances, such as a significant reduction in the Authority’s funding, or incidences of fraud, corruption or dishonesty. 9.6 Termination of this Agreement shall have no effect on the liability of either Party, the payment of any sums arising under it, or any rights or remedies of either Party already accrued, prior to the date upon which termination takes effect.
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Default and Termination of the Agreement. 1. This Agreement may be suspended or terminated by Epicure upon simple notice in writing in the following cases: i. The Independent Epicure Consultant is declared bankrupt or insolvent, any assignment of his property is made, or he is placed under protective supervision; ii. The Independent Epicure Consultant becomes physically disabled to such an extent as to make him unable to perform as an Independent Epicure Consultant morally and adequately for a period of at least eight (8) consecutive months or a cumulative period of twelve (12) months during a total period of twenty-four (24) months; iii. The Independent Epicure Consultant regularly does not reach the minimal sales objectives as may be fixed from time to time by Epicure; iv. The Independent Epicure Consultant breaches his covenant contained in this Agreement or any policy contained in the Independent Epicure Consultant Business Guide. 2. If this Agreement is terminated or if the Independent Epicure Consultant voluntarily terminates this Agreement, the Independent Epicure Consultant acknowledges and agrees to forfeit all bonus compensation (as described in the Independent Epicure Consultant Business Guide) to which the Independent Epicure Consultant is entitled, but has not yet received, up to the time of Termination or resignation. If the Independent Epicure Consultant rejoins Epicure, he acknowledges and agrees that this bonus compensation will not be reinstated. If the Independent Epicure Consultant voluntarily terminates the agreement and wishes to re-join under another sponsor, the Independent Epicure Consultant further acknowledges and agrees that he will be required to wait for a period of one year from the date of his Termination prior to filing a new application. 3. The Independent Epicure Consultant is entitled to cancel this Agreement at any time and for any reason upon 60 days’ notice in writing to Epicure. 4. In any event where the present Agreement is terminated, the Independent Epicure Consultant hereby declares and acknowledges that under his status of Independent Epicure Consultant, he shall not be compensated in any way for the termination of the present Agreement.
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Default and Termination of the Agreement. 8.1 KH may in its absolute discretion terminate this Agreement, without prejudice to any other rights or remedy available to KH, and all amounts owing to KH will (whether or not due for payment) become immediately payable, if: (a) You breach a term of this Agreement, and the breach is either not capable of rectification or, if capable of rectification, is not rectified within 7 days of notice by KH of the breach; (b) any money payable to KH becomes overdue or, in KH’s reasonable opinion, You are or will be unable to make payment; (c) You become insolvent, bankrupt, convene a meeting with Your creditors or propose or enter an arrangement with creditors, or make an assignment for the benefit of Your creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of You or any of Your assets. 8.2 Without prejudice to any other right or remedy available to KH, if this Agreement is terminated under clause 8.1, Kentan may: (a) sue for recovery of all monies owing by you; and (b) repossess the Equipment (and is authorised to enter any premises where the Equipment is located to do so). 8.3 Termination of this Hire Agreement does not affect Kentan’s rights or remedies, including any rights of payment to any amounts to which it is entitled as at the date of termination. 8.4 KH may charge interest in accordance with clause 8.3 on any Outstanding Amount, which will accrue daily from the date when payment is due until the date of actual payment, at a rate of one percent (2.5%) per calendar month (compounded monthly). 8.5 You indemnify KH from and against all costs and disbursements incurred by KH in recovering any Outstanding Amount (including, but not limited to, internal administration fees, legal costs on a solicitor-client basis, and bank dishonour fees). 8.6 For a dispute arising under this Agreement (other than payments due to KH) both parties will try in good faith to settle the problem or dispute by negotiation, failing which the dispute will be referred to alternative dispute resolution through the office of the Hire and Rental Industry Association of Australia prior to litigation. 8.7 Any dispute concerning a Hire Charge must be notified by You to KH in writing within 7 days of the date of the Hire Agreement. All Hire Charges are otherwise deemed to be accepted by you. 8.8 The procedure for dispute resolution set out in this clause does not apply to legal proceedings for urgent interlocutory relief.
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Related to Default and Termination of the Agreement

  • Default and Termination (a) In the event that either Party (the “Non-defaulting Party”) determines that the other Party (the “Defaulting Party”) is in breach of any term or condition of this Agreement, unless the breach is a Substantial Breach, the Non- defaulting Party shall give the Defaulting Party fourteen (14) days from the day of written notification of the breach for the Defaulting Party to remedy the breach or if the breach cannot reasonably be cured within such period, provided the Defaulting Party proceeds to diligently remedy the default, such additional period of time as is reasonably required to remedy the breach, as determined by the Non-defaulting Party, acting reasonably. (b) In the event that: (i) the Non-defaulting Party determines that the Defaulting Party is in breach pursuant to Section 3.3(a); (ii) the breach was not a Substantial Breach at the time such breach occurred; and (iii) the Defaulting Party disputes the determination of the breach made by the Non-defaulting Party, the provisions of Schedule H shall apply with respect to the dispute. (c) In the event of a Substantial Breach, the Non-defaulting Party shall, without limiting any other rights it may have in law or equity, have the right to terminate this Agreement without cost, penalty, or process of law with a minimum of forty-eight (48) hours prior written notice to the Defaulting Party. (d) If the Service Provider materially defaults in the observation or performance of any term or condition of this Agreement, and fails to remedy such default within the period provided for herein, AHS shall be entitled, but not obligated, to take such steps as may be available or desirable to remedy such default, and all costs of AHS in that regard shall be paid by the Service Provider to AHS on demand. (e) The rights and remedies of the Parties as set forth in this Agreement are cumulative and shall in no way be deemed to limit any of the other provisions of this Agreement or otherwise to deny the Parties any other remedy at law or in equity which the Parties may have under any law in effect at the date hereof or which may hereinafter be enacted or become effective, it being the intent hereof that such rights and remedies of the Parties shall supplement or be in addition to or in aid of the other provisions of this Agreement and of any right or remedy at law or in equity which the Parties may possess.

  • Duration and Termination of the Agreement This Agreement shall become effective upon its execution; provided, however, that this Agreement shall not become effective with respect to any Portfolio now existing or hereafter created unless it has first been approved (a) by a vote of the Independent Trustees, cast in person at a meeting called for the purpose of voting on such approval, and (b) if required under the 1940 Act, by an affirmative vote of a majority of the outstanding voting shares of that Portfolio. This Agreement shall remain in full force and effect continuously thereafter without the payment of any penalty as follows: (a) By vote of a majority of the (i) Independent Trustees, or (ii) outstanding voting shares of the applicable Portfolios, the Trust may at any time terminate this Agreement with respect to any or all Portfolios by providing not more than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager and the Subadviser. (b) This Agreement will terminate automatically with respect to a Portfolio unless, within two years after its initial effectiveness with respect to such Portfolio and at least annually thereafter, the continuance of the Agreement is specifically approved by (i) the Board of Trustees or the shareholders of such Portfolio by the affirmative vote of a majority of the outstanding shares of such Portfolio, and (ii) a majority of the Independent Trustees, by vote cast in person at a meeting called for the purpose of voting on such approval. If the continuance of this Agreement is submitted to the shareholders of any Portfolio for their approval and such shareholders fail to approve such continuance as provided herein, the Subadviser may continue to serve hereunder in a manner consistent with the 1940 Act and the rules and regulations thereunder. (c) The Manager may at any time terminate this Agreement with respect to any or all Portfolios by not less than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Subadviser, and the Subadviser may at any time terminate this Agreement with respect to any or all Portfolios by not less than 90 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager. (d) This Agreement automatically and immediately will terminate in the event of its assignment. Upon termination of this Agreement with respect to any Portfolio, the duties of the Manager delegated to the Subadviser under this Agreement with respect to such Portfolio automatically shall revert to the Manager.

  • Term and Termination of the Agreement 9.1. The Agreement shall enter into force upon its signing by the Parties and shall remain in full force and effect until the Parties have fully and properly fulfilled their obligations (including, unequivocally in the case the term of any other agreement associated with the Agreement exceeds the term of the Agreement). 9.2. In the cases and under the conditions stipulated by the Agreement and/or Legislation, it is possible to terminate the Agreement before expiration of its term in whole or in part:

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Events of Default and Termination 9.1 Supplier Event of Default or Solar Pumpset Supplier Event of Default: 9.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure event or a breach by DISCOM of its obligations under this Agreement, shall constitute a Supplier Event of Default (“Supplier Event of Default/Solar Pumpset Supplier Event of Default”): (i) the Solar Pumpset Supplier transfers or novates any of its rights and/ or obligations under this Agreement, in a manner contrary to the provisions of this Agreement; except where such transfer:  is in pursuance of a law; and does not affect the ability of the transferee to perform, and such transferee has the financial capability to perform, its obligations under this Agreement or  is to a transferee who assumes such obligations under this Agreement and the Agreement remains effective with respect to the transferee; (ii) the Solar Pumpset Supplier becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or Any winding up or bankruptcy or insolvency order is passed against the Solar Pumpset Supplier, or the Solar Pumpset Supplier goes into liquidation or dissolution or has a receiver or any similar officer appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to law, Provided that a dissolution or liquidation of the Solar Pumpset Supplier will not be a Solar Pumpset Supplier Event of Default if such dissolution or liquidation is for the purpose of a merger, consolidation or reorganization and where the resulting company retains creditworthiness similar to the Solar Pumpset Supplier and expressly assumes all obligations of the Solar Pumpset Supplier under this Agreement and is in a position to perform them; or (iii) the Solar Pumpset Supplier repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from DISCOM/NREDCAP in this regard; or (iv) except where due to any DISCOM’s failure to comply with its material obligations, the Solar Pumpset Supplier is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Solar Pumpset Supplier within thirty (30) days of receipt of first notice in this regard given by DISCOM/NREDCAP; or (v) the Solar Pumpset Supplier repeatedly delays the commissioning of the Solar Pumpset Systems beyond the timelines or such extended timelines as specified in this Agreement (vi) Occurrence of any other event which is specified in this Agreement to be a material breach/default of the Solar Pumpset Supplier.

  • Suspension and termination of procedure 1. The disputing Parties may agree to suspend the work of the Panel at any time for a period not exceeding 12 months following the date of such agreement. In any event, if the work of the Panel has been suspended for more than 12 months, the authority of the Panel shall lapse, unless the disputing Parties agree otherwise. If the authority of the Panel lapses and the disputing Parties have not reached an agreement on the settlement of the dispute, nothing in this Article shall prevent a Party from requesting a new proceeding regarding the same matter. 2. At any time prior to the release of the Panel report, the Parties may agree to terminate the procedures before a Panel by jointly notifying the chair of the Panel on this respect.

  • Default, Disruption and Termination H1 Termination on Change of Control and Insolvency H2 Termination on Default H3 Break H4 Consequences of Termination H5 Disruption H6 Recovery upon Termination H7 Force Majeure

  • Duration and Termination of Agreement This Agreement shall become effective with respect to each Portfolio on the later of (i) its execution and (ii) the date of the meeting of the Board of Trustees of the Trust, at which meeting this Agreement is approved as described below. The Agreement will continue in effect for a period more than two years from the date of its execution only so long as such continuance is specifically approved at least annually either by the Trustees of the Trust or by a majority of the outstanding voting securities of each of the Portfolios, provided that in either event such continuance shall also be approved by the vote of a majority of the Trustees of the Trust who are not interested persons (as defined in the Investment Company Act) of any party to this Agreement cast in person at a meeting called for the purpose of voting on such approval. Any required shareholder approval of the Agreement or of any continuance of the Agreement shall be effective with respect to any Portfolio if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the Investment Company Act) of shares of that Portfolio votes to approve the Agreement or its continuance, notwithstanding that the Agreement or its continuance may not have been approved by a majority of the outstanding voting securities of (a) any other Portfolio affected by the Agreement or (b) all the portfolios of the Trust. If any required shareholder approval of this Agreement or any continuance of the Agreement is not obtained, the Subadviser will continue to act as investment subadviser with respect to such Portfolio pending the required approval of the Agreement or its continuance or of a new contract with the Subadviser or a different adviser or subadviser or other definitive action; provided, that the compensation received by the Subadviser in respect of such Portfolio during such period is in compliance with Rule 15a-4 under the Investment Company Act. This Agreement may be terminated at any time, without the payment of any penalty, by the Trustees of the Trust, by the vote of a majority of the outstanding voting securities of the Trust, or with respect to any Portfolio by the vote of a majority of the outstanding voting securities of such Portfolio, on sixty days' written notice to the Adviser and the Subadviser, or by the Adviser or Subadviser on sixty days' written notice to the Trust and the other party. This Agreement will automatically terminate, without the payment of any penalty, in the event of its assignment (as defined in the Investment Company Act) or in the event the Advisory Agreement between the Adviser and the Trust terminates for any reason.

  • EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT a. The effective date of this Agreement with respect to each Fund shall be the date set forth on Exhibit A hereto. b. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect with respect to each Fund for a period of two years from the date of its execution, and thereafter shall continue in effect only so long as such continuance is specifically approved at least annually by (i) the Board of Directors of the Company or by the vote of a majority of the outstanding voting securities of the applicable Fund, and (ii) by the vote of a majority of the directors of the Company who are not parties to this Agreement or "interested persons," as defined in the 1940 Act, of Adviser or of the Company cast in person at a meeting called for the purpose of voting on such approval. c. This Agreement may be terminated with respect to any Fund at any time, without the payment of any penalty, by the Board of Directors of the Company or by the vote of a majority of the outstanding voting securities of such Fund, or by Adviser, upon 60 days' written notice to the other party. d. This agreement shall terminate automatically in the event of its "assignment" (as defined in the 1940 Act). e. No amendment to this Agreement shall be effective with respect to any Fund until approved by the vote of: (i) a majority of the directors of the Company who are not parties to this Agreement or "interested persons" (as defined in the 0000 Xxx) of Adviser or of the Company cast in person at a meeting called for the purpose of voting on such approval; and (ii) a majority of the outstanding voting securities of the applicable Fund. f. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities or shares of a Fund shall mean the lesser of (i) the vote of 67% or more of the voting securities of such Fund present at a regular or special meeting of shareholders duly called, if more than 50% of the Fund's outstanding voting securities are present or represented by proxy, or (ii) the vote of more than 50% of the outstanding voting securities of such Fund.

  • Amendment and Termination of Agreement (a) We may amend any provision of this Agreement by giving you written notice of the amendment. Either party to this Agreement may terminate the Agreement without cause by giving the other party at least thirty (30) days' written notice of its intention to terminate. This Agreement will terminate automatically in the event of its assignment (as defined in the 1940 Act). (b) In the event that (i) an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970 is filed against you; (ii) you file a petition in bankruptcy or a petition seeking similar relief under any bankruptcy, insolvency, or similar law, or a proceeding is commenced against you seeking such relief; or (iii) you are found by the SEC, the NASD, or any other federal or state regulatory agency or authority to have violated any applicable federal or state law, rule or regulation arising out of your activities as a broker/dealer or in connection with this Agreement, this Agreement will terminate effective immediately upon our giving notice of termination to you. You agree to notify us promptly and to immediately suspend sales of Portfolio shares in the event of any such filing or violation, or in the event that you cease to be a member in good standing of the NASD. (c) Your or our failure to terminate this Agreement for a particular cause will not constitute a waiver of the right to terminate this Agreement at a later date for the same or another cause. The termination of this Agreement with respect to any one Portfolio will not cause its termination with respect to any other Portfolio. 11.

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