Election By Company Sample Clauses

Election By Company. Executive’s employment may be terminated at any time by Company upon not less than 30 days written notice by the Board to Executive.

Election By Company. Within [**] ([**]) days following Company’s receipt of the Proposed Product Notice, Company shall provide Wistar written notice stating whether or not Company elects to develop and commercialize such Proposed Product on its own (“Proposed Product Election Notice”). If Company does not timely provide a Proposed Product Election Notice, Wistar shall be entitled to exclude such Proposed Product from the license hereunder to Company, or convert such license to a non-exclusive license with respect to such Proposed Product, and Wistar shall be free to further develop such Proposed Product internally or license the Licensed Patents, on an exclusive or non-exclusive basis, as the case may be, to any third party for the development and commercialization of such Proposed Product.

Election By Company. Executive's employment may be terminated at any time by the Company upon not less than ninety (90) days written notice by the Company to Executive. Upon such termination, the obligations of the Executive and Company under this Agreement shall immediately cease. In the event of termination pursuant to this paragraph, Executive shall be entitled to receive (i) any accrued and unpaid base salary and (ii) any and all accrued, earned but unpaid bonuses or benefits described in Section 4 to which Executive is entitled on the date of such termination. Additionally, in the event of termination of Executive's employment with the Company pursuant to this Section 5.2.4, the Company shall pay to Executive (i) In the event of Executive's termination within the first or second year of the Term, Two Hundred percent (200%) of Executive's Annual Salary for the remainder of the Term, payable on the date of termination; (ii) In the event of Executive's termination within the third or fourth year of the Term, One Hundred Fifty percent (150%) of Executive's annual salary for the remainder of the Term, payable on the date of termination; and (iii) In the event of Executive's termination within the fifth year of the Term, One Hundred Twenty Five percent (125%) of Executive's annual salary for the remainder of the Term, payable on the date of termination.. All other rights Executive has under any benefit or stock option plans and programs shall be determined in accordance with the terms of such plans and programs.

Election By Company. Company may terminate Executive's employment upon not less than 60 days written notice by Company to Executive. With the exception of the covenants included in section 3 above, upon such termination the obligations of Executive and Company under this Agreement shall immediately cease. In the event of a termination pursuant to this section, Executive shall be entitled to receive (i) any amount earned but unpaid pursuant to section 4(a), and (ii) compensation equal to Executive's annual salary for the remainder of the Term; PROVIDED, HOWEVER, that HESG may, in its sole discretion, elect to pay such remainder amount either (A) in one lump sum upon Executive's termination, or (B) at least bi-weekly. All other rights Executive has under any benefit or stock option plans and programs shall be determined in accordance with the terms and conditions of such plans and programs.

Election By Company. Company may terminate Executive's employment upon not less than ninety (90) days written notice by Company to Executive. With the exception of the covenants included in paragraph 11 below, upon such termination the obligations of Executive and Company under this Agreement shall immediately cease.

Election By Company. Subject to Section 3.07, the Company may elect, at its option at any time, to have Section 6.02 or 6.03 hereof applied to any or all of the IQ Notes, upon compliance with the conditions set forth below in this Article Six. Any such election shall be evidenced by a Board Resolution or in another manner contemplated by the Indenture, as supplemented hereby, with respect to such IQ Notes.

Election By Company. The Company shall, within five ------------------- days of receiving a notice from any Affected Lender pursuant to subsection (a) of this Section 2.12, elect (and shall notify such Affected Lender and the Administrative Agent of such election) to: (i) prepay in full all Eurocurrency Rate Advances in such Currency then outstanding, together with interest thereon, unless the Company, within five Business Days of notice from the Administrative Agent Converts all Eurocurrency Rate Advances of all Lenders then outstanding into Base Rate Advances in accordance with Section 2.09; or Credit Agreement ---------------- - 44 - (ii) if no Default shall have occurred and be continuing, require that such Affected Lender assign to the Company's designated assignee or assignees, in accordance with the terms of Section 9.07, all Advances then owing to such Affected Lender and all rights and obligations of such Affected Lender hereunder; provided that (A) each such assignment shall be either an assignment of all of the rights and obligations of the assigning Affected Lender under this Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or assignments which together cover all of the rights and obligations of the assigning Affected Lender under this Agreement, (B) no Affected Lender shall be obligated to make any such assignment as a result of a demand by the Company pursuant to this Section 2.12(b) unless and until such Affected Lender shall have received one or more payments from either the Borrowers or one or more assignees in an aggregate amount at least equal to the aggregate outstanding principal amount of the Advances owing to such Affected Lender, together with accrued interest thereon to the date of payment of such principal amount, all Commitment Fees and other fees payable to such Affected Lender and all other amounts payable to such Affected Lender under this Agreement (including, but not limited to, any increased costs or other additional amounts (computed in accordance with Section 2.11), and any Taxes, incurred by such Affected Lender prior to the effective date of such assignment and amounts payable under Section 9.04(a)) and (C) each such assignment shall be made pursuant to an Assignment and Acceptance; provided that such assignment shall not be effective if, after giving effect to such assignment, the aggregate amount of the Revolving Credit Commitments and Term Advances so assigned or termin...

Election By Company. Company may terminate Employee's ------------------- employment upon not less than thirty (30) days written notice by Company to Employee. With the exception of the covenants included in paragraph 3 above, upon such termination the obligations of Employee and Company under this Agreement shall immediately cease. In the event of a termination pursuant to this paragraph, Employee shall be entitled to receive (i) any amounts earned but unpaid up to the termination date pursuant to paragraph 3(a) and any declared but unpaid Annual Bonus, and (ii) compensation equal to the balance of the Employee's unpaid base salary only (as set forth in paragraph 3(a)) through the expiration date of the term, payable in accordance with Company's payroll procedures as if Employee's employment by Company had continued until the expiration of the term. All other rights Employee has under any benefit or stock option plans and programs shall be determined in accordance with the terms and conditions of such plans and programs.

Election By Company. Executive's employment may be terminated at any time by the Company upon not less than ninety (90) days written notice by the Company to Executive. Upon such termination, the obligations of the Executive and Company under this Agreement shall immediately cease. In the event of termination pursuant to this paragraph, Executive shall be entitled to receive (i) any accrued and unpaid base salary and (ii) any and all accrued, earned but unpaid bonuses or benefits described in Section 4 to which Executive is entitled on the date of such termination. Additionally, in the event of termination of Executive's employment with the Company pursuant to this Section 5.2.4, the Company shall pay to Executive (i) In the event of Executive's termination within the first year of the Term, Two Hundred percent (200%) of Executive's Annual Salary for the remainder of the Term, payable on the date of termination; (ii) In the event of Executive's termination within the second year of the Term, One Hundred Fifty percent (150%) of Executive's annual salary for the remainder of the Term, payable on the date of termination; and (iii) In the event of Executive's termination within the third year of the Term, One Hundred Twenty Five percent (125%) of Executive's annual salary for the remainder of the Term, payable on the date of termination.. All other rights Executive has under any benefit or stock option plans and programs shall be determined in accordance with the terms of such plans and programs.

Election By Company. In the --------------------------------------- event the company shall give the Employee notice of termination of the Employee's employment under this Agreement pursuant to Section 4(A)(iii), the Employee shall, subject to the provisions of Section 4(D)(iv) and (v), on the effective date of such notice automatically be on part-time employment status until the date that the Employee reaches age sixty-five (65).