Due to Cause Sample Clauses
The "Due to Cause" clause defines the circumstances under which a party may take certain actions, such as terminating an agreement or withholding performance, when a specific event or breach occurs. Typically, this clause outlines what constitutes a valid cause—such as material breach, insolvency, or failure to meet obligations—and the process for invoking the clause, which may include providing notice or an opportunity to cure the issue. Its core practical function is to allocate risk and provide a clear mechanism for addressing significant problems in the contractual relationship, ensuring that parties have a structured way to respond to serious issues.
Due to Cause. In the event Grantee’s employment is terminated by the Corporation or any Affiliate for Cause, the remaining Restricted Units shall be forfeited at the time of such termination, and Grantee shall disgorge any profit, gain or other benefit received in respect of the lapse of restrictions on any prior Restricted Units for a period of twelve (12) months prior to the termination of his employment for Cause. In the event Grantee’s employment is terminated by the Corporation or any Affiliate for Cause, the provisions of this paragraph will apply notwithstanding any assertion (by Grantee or otherwise) of a termination of employment for any other reason enumerated under this Section.
Due to Cause. If you are removed from the Board for cause prior to [One-year anniversary of grant date], this Award shall terminate and all Restricted Stock Units awarded hereunder shall be forfeited and canceled. For purposes of this Agreement, “cause” shall mean gross negligence or willful misconduct in the performance of your duties as a Director, or final conviction of a felony or of a misdemeanor involving moral turpitude.